Despite being the daughter of one of the most influential men in the history of the financial services industry, Carrie Schwab Pomerantz's early childhood was more Main Street than Wall Street. Unlike many scions of finance, she was schlepping...
When the mutual fund scandals broke in September 2003, New York Attorney General Eliot Spitzer and other politicians described the misdeeds in black-and-white terms. According to the original story line, the villains were mainly mutual funds who...
Henry Ford famously offered to deliver his Model T in any color, so long as it was black. Customers in the securities industry have roughly the same amount of choice when it comes to settling disputes it's arbitration or nothing. This is...
When clients are helping their kids adjust to the work that comes with the first few weeks of school, it's a great time to remind them that they have some homework of their own to do: tax preparation. Advisors often start discussing year-end tax...
A decade ago, when Doug Nani was a rookie rep at Legg Mason Wood Walker in Providence, R.I., the firm started a merchant banking division. Little did Nani know that the move would end up providing him with a lucrative way to supplement his...
Ever since socially responsible investing began as a protest against the Vietnam War and as a lever to force U.S. multinationals to stop doing business in South Africa the concept has been viewed with suspicion in most parts of the investment...
Perhaps you've encountered a situation like this: A client loses money in his account but the performance report he receives shows a positive return. The client is understandably perplexed by this and requests an explanation. After kicking around...
By now, financial advisors know the drill. They are supposed to be evolving into wealth managers. This upgrade helps advisors better connect with existing clients, attracts more high-net-worth prospects and improves profitability by broadening the...
ON ITS WEB SITE, THE NASD SAYS THE HEART OF ITS MISSION IS TO ENFORCE SECURITIES LAWS IN A VIGOROUS, FAIR AND EFFECTIVE MANNER. ASK ANY BROKER/DEALER EXECUTIVE OR COMPLIANCE CHIEF AND THEY WOULD LIKELY GROAN, VIGOROUS, YES, BUT FAIR? Executives of...
Despite the recent onslaught of negative regulatory and media attention to variable annuities, sales of these products have not suffered. In fact, they have continued to grow over the past three years, even as sales of fixed annuities have slipped...
