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...

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...