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Raising five kids in any U.S. metro area means big bucks if you want the best in education a challenge well known to one affluent family who faced a total bill of about $2 million spread around among private schools, private colleges, books...
Consider the Curious and Rather Grotesque Case of Gary J. Gross, a financial advisor from (where else?) Boca Raton, Fla. Gross' U4 is close to 100 pages long, and lists 35 customer complaints (33 of them settled) amassed at several firms over the...
Playing hopscotch from one firm to another, without losing all of your clients, may soon get a little easier. That is, if the SEC's proposed amendment to privacy policy rules, also known as Regulation S-P, is approved. The SEC made the proposal on...
Just over a year ago, fee-based brokerage accounts got the ax when the Financial Planning Association (FPA) successfully sued the SEC to overturn the Merrill rule. As of October 1, 2007 non-advisory managed-account programs could no longer charge...
If you are a retail financial advisor at UBS and have client assets stuck in the auction-rate securities market, your new ad slogan might be: “UBS, You Are Pissed At Us.” That’s because the Wall Street Journal’s website is...
As former New York Governor Eliot Spitzer learned this week—after being ousted for clandestine trysts with expensive call girls—prostitution is illegal. Spitzer was not the first (nor the last) high-profile person to enjoy expensive...
Eliot Spitzer, who’s dramatic demise over the past few days has been covered backwards and forwards by every media outlet in the country, is not getting a lot of sympathy from Wall Street reps or executives. Many of them are celebrating the...
Q:My independent firm told me that I am responsible for reporting I get from my clients to the firm's compliance officer. Not surprisingly, since Labor Day, I've had more clients complaining (sometimes with notes or in emails, about the markets...
Deal making in the wealth-management space has been rampant lately, and some holding companies and individual RIAs are beginning to see opportunities in Europe. Focus Financial Partners, a two-year-old holding company with 15 RIA partners and over...
