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Senator Tim Johnson (R- S.D.), incoming Senate Banking Committee Chair, began floating an amendment last week that would eliminate from Senate regulatory reform legislation the application of a fiduciary standard to investment advice provided by...
Multiple publications have reported recently that the massive switching of firms in the advisor population will subside this year, and that 2010 will be about staying put and focusing on growing your books. For top producers, wirehouse recruiting...
While some growth managers seek companies that are reporting the most rapid earnings gains, Janus Fund (JDGAX) avoids the highflyers. Instead, the fund favors predictable blue chips. The aim is to find dominate businesses that can grow steadily...
The FT reports today that “overseas investors bought up Japanese equities at the fastest pace in three years in January as global asset managers rebalanced portfolios towards the country’s equity market from underweight positions.” For more...
UBS’ U.S. wealth management division posted income of CHF $178 million in the fourth quarter of 2009, up 62 percent versus the year ago quarter. Clients continued to withdraw significant assets from the firm both in the U.S. and around the...
At last week’s TD Ameritrade Institutional’s national conference last week, there was much discussion about China. Is China’s growing economic might good for the U.S.? For the world? Is China, giving its despotic government...
UBS’s Wealth Management Americas division is aiming to bolster the Swiss bank’s brokerage, internally announcing significant management changes on top of a substantial reorganization: It consolidated three brokerage regions into two...
The New York Attorney General’s office today charged Bank of America CEO Ken Lewis with fraud for failing to disclose material details about Merrill Lynch in its merger with the brokerage. The move takes the case one step further than the...
Bank of America plans to add 2,000 new brokers in 2010, mostly trainees. One analyst says Merrill may want these hires to help with BofA’s cross-selling efforts.