Financial-advisory businesses have been growing at a breakneck pace for the past five years. But suddenly, they’re having a much harder time managing that growth, according to a recent study released by Moss Adams. In 2005, the annual median...

Three foreign firms plan to make their final bids for Putnam Investments ahead of the Thanksgiving holiday, The Wall Street Journal reports, citing people familiar with the bidding process. The trio includes U.K. asset manager Amvescap, parent of...

In a move that has long been speculated about, Charles Schwab announced Monday that it had agreed to sell its private banking arm, U.S. Trust, to Bank of America for $3.3 billion. In a research report, Wachovia analysts said the deal will give...

The “risk-assessment unit” of New York Stock Exchange Regulation issued a memo today to remind member organizations of their duty not to screw clients out of hard-earned 401(k) money.

If individual investors could manage money like Bill Miller, they could all sleep better knowing that their twilight years would be spent in hammocks beneath palm trees in tropical locales. Unfortunately, the famed fund skipper’s genius hasn...

Businesses are going to need help from financial advisors as they choose default investments for their 401(k) or other defined-contribution plans, according to recent research from Putnam Investments. Under Pension Protection Act legislation...

Now that Democrats have swept into Congress, what does this mean for your high-net-worth clients? It’s hard to say, but if the party’s six-point agenda is any indication (which called for everything from “better American jobs and...

Merrill Lynch confirmed on Monday that it is considering relocating from its headquarters in New York’s World Financial Center when its lease runs out in 2013. The world’s largest brokerage firm is mulling the move because its current...

BOCA RATON, FLA. – Purveyors of stocks and bonds officially joined forces this week to form one of the most powerful lobbying groups on Capitol Hill. The former Securities Industry Association (SIA) kicked off its newly consummated marriage to the...

If you work on Wall Street, chances are you stand to make a killing in bonus pay this year….unless, that is, you’re a broker or a financial advisor. If you fall into the latter group, you might be justified in going green with envy...