Perhaps the single most common lament I hear from my stockbroker clients is They can't do that to mecan they? And more often than not, my reply is They can, they will, and they have. In that spirit, let me present you with some recent Financial...
With asset-based fees providing less revenue, advisors are embracing a wider variety of pricing models these days. According to a Schwab presentation from this year's Impact conference called Pricing Practices in Evolving Ultra-Wealth Marketplace...
The Securities Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) announced Wednesday that they expect to release a report within two weeks that explains the regulatory responsibilities of each agency and recommends...
The SEC charged former GunnAllen financial advisor Frank Bluestein with fraud, alleging that he lured elderly investors into a $250 million Ponzi scheme conducted through E-M Management Co. According to the complaint, over a five-year period...
SEC Chairman Mary Schapiro announced the release today of the Office of the Inspector General’s report on the Bernard Madoff fraud. In short, the SEC screwed up in every way possible. Along with the announcement, Schapiro outlined how the...
The economic crisis has damaged revenues, business plans and most importantly, the trust of wealth management clients. According to an extensive survey conducted by PriceWaterhouseCoopers and released at the end of July, advisors who succeed in...
Turnover at the wirehouses has accelerated in the current market. In the first quarter, UBS and Wells Fargo Advisors were net winners of advisors, but every firm lost heads in the second quarter. (Granted, Wachovia/Wells Fargo just lost one.) UBS...
Over the last 10 years, if you had simply preserved your wealth, that would be considered achievement. But are these last 10 years unusual? A longer term perspective shows that actual real returns earned by investors, on average, have been pretty...
