Another round in the highly politicized battle over who will oversee investment advisers is brewing. The House of Representatives plans to hold a hearing on Sept. 13 on provisions of Dodd-Frank that govern the regula...
Nancy Martignago, a sales assistant for Merrill Lynch in the firm’s Fort Worth, Tex. office, filed a class action lawsuit on Jun. 9 against Merrill in the Southern District of New York for unpaid overtime...
Morgan Stanley financial advisors should expect more cost-cutting in the global wealth management division in coming quarters—possibly in the guise of cuts to staff or financial advisors. On a second-quarter...
BofA's Global Wealth and Investment Management, which includes Merrill Lynch, reported $506 million in net income for the quarter. Merrill Lynch contributed the bulk of revenues, with $3.5 billion, up from $3.1...
SIFMA sent a letter to the SEC Thursday that recommends a new fiduciary standard that would be more rules-based and that would depend on individual client contracts for its application.
Under an SEC order issued today, it will require considerably more wealth or assets for an investor to qualify to pay an investment adviser performance fees. The higher thresholds, mandated by Dodd-Frank reform, are...
