If Edward Jones reps are dismayed by the firm's record-setting SEC fine and the subsequent dismissal of their managing partner, Doug Hill, they're doing a good job of covering up. They've told us not to be alarmed or anything, and we're not, one...
Edward Jones announced in an SEC filing settling its revenue-sharing charges that managing partner Doug Hill would resign from his position at the end of 2005 (see story at right). The company has not announced his replacement. Hill took over from...
As Americans donate to tsunami disaster-relief efforts, the brokerage industry is chipping in as well. According to the SIA, there is no organized, industrywide effort to raise relief funds, but individual firms are doing their part.
What, no more golf balls? No free fancy lunches? Dinner? No drinks? Financial advisors who grew accustomed to the little and sometimes not so little treats that mutual fund wholesalers lavish on them may have noticed a certain lack of swag lately...
To virtually no one's surprise, regulators have begun scrutinizing how 529 plans are peddled. In December, the SEC and NASD sent a letter of inquiry to Edward Jones and American Funds, requesting information on how those firms sell the college...
When Edward Jones was accused last year of steering clients to certain mutual fund families without disclosing that the firm received multimillion-dollar payments from those funds, it denied the charges.
As effective as cost-cutting can be, there comes a point in every business diet when there is no more fat to cut. Such is the case now in the brokerage industry.