With the first wave of boomers starting to spend down that nest egg, one recent academic study suggests the government should create incentives for boomers to spend it as carefully as they saved it—by offering tax-breaks and/or credits on...

The NASD said on Monday that it has fined two brokerage firms—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...

In a rare move, Charles Schwab said on Friday that it has postponed its fall business update with analysts, citing “scheduling difficulties.” A company official confirmed that the biannual meeting—originally set for Nov. 16—...

In a broadcast Thursday afternoon to the firm’s U.S. financial advisors, retail head James Gorman announced the rollout of a new compensation program for 2007—one that will increase the firm’s spending on compensation by tens of...

A large number of money managers still haven’t figured out how to tap the registered investment advisor (RIA) market to sell their funds, according to research published Monday by Kasina, a mutual fund consulting firm in New York...

Brokers generally like their jobs, but seem to have channel-envy. At least that’s what Fidelity unit National Financial found in its survey of brokers conducted this summer.

On Thursday, the NASD slapped a small independent broker/dealer with a $50,000 fine and sanctions for overcharging more than 1,500 customers who decided to follow their brokers to another firm. McLaughlin, Piven and Vogel Securities, a New York...

The NASD today made a statement: Brokers who try to game the system will be severely smote. Today the NASD fined Paul Saunders, a registered rep, CEO and majority owner of James River Capital Corporation (JRCC) in Richmond, Va., $2.25 million...

Too many clients fail to insure their collections, often because they don't want to create records of their valuables' worth; sometimes because they just don't get around to it.

The rift in the investment-advisor industry came into sharp focus Tuesday, when the CFP Board announced that it has put off making proposed changes to its Code of Ethics until January 2007 in order to consider the heated reactions of industry...