James Daniel knew what he wanted, and it was more independence. So, last year, after three years with Ameriprise in Alpharetta, Ga., Daniel decided he was ready to make The Big Move: He would drop his Series 7 and go out on his own as a registered...
The NASD fined Chase Investment Services and MetLife Securities for failing to establish internal controls to supervise the sale of 529 college savings plans. The two firms were fined $500,000 apiece and ordered to reimburse customers who were...
The expense ratios of the lifecycle funds cited in Spinning Their Wheels (October 2006) represented gross expense ratios and not the net expense ratios that are normally used when examining fund fees. Two of the fund names were also cited...
Mark Sutton, chairman and CEO of U.S. operations for UBS, has announced his resignation after 16 months in the position. Sutton says he plans to pursue other business opportunities and personal interests. Robert Wolf, chairman of the firm's...
Last year, Leven Brown, a Scottish stockbroker with Edinburgh-based Bell Lawrie rowed solo 5,000 miles across the Atlantic in five months. Now the 34-year-old descendent of Christopher Columbus, and recent father, is going to cross the pond again...
Christine Moriarty, a certified financial planner based in Bristol, Vt., recalls one client, a computer business owner, who had been trying to live on a tight budget without any form of long-term planning. He was wreaking havoc on himself. He had...
BROKERAGE SMALL BUSINESS ACCOUNTS INADEQUATE Serving small businesses is a top priority for brokerage firms these days, but you wouldn't know it from the quality of their offerings, says one recent study. Corporate Insight, a research and...
Apparently, apart from spoiling kids' morals, rock and roll (videos) also ruined their financial discipline. Well, no, maybe not. But, due to poor spending and savings habits, the finances of the MTV Generation are in much worse shape than those...
Registered Rep. recently caught up with Debby McWhinney and spoke with her about the rivalry between the registered investment advisor (RIA) firms that Schwab caters to and Wall Street wirehouses. Here is an excerpt: Registered Rep.: With a lot of...
I recently worked on a court case where a series of small but horribly egregious errors were made in client financial plans. Twelve clients who had invested an aggregate $10 million with a broker at a national wirehouse were suing the broker after...
