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Protecting elderly investors is high on the priority list of the SEC, judging from speeches and notices to members. And it made it clear today firms that tolerate brokers who exploit elderly clients will pay.
It's a fact: The biggest financial advisors, in terms of assets under management, are wirehouse advisors. Actually, when we began this top advisor list back in September 2002, only a couple of spots were filled by regionals (Legg Mason, for...
The fund industry doesn't have a pricing crisis yet. But if it doesn't take some action, it will. Over the past several years, individual firms have taken a few stabs at creating more consumer-friendly pricing slashing 12b-1 fees on certain shares...
Many years ago our research on the affluent led us to investigate wealth management teams. We turned our focus to teams simply because it became obvious that it was difficult (if not impossible) to manage the entirety of an affluent client's...
Brookstreet reps that had to flee their firm as it collapsed under the weight of millions of dollars in margin calls are still wondering when or if they'll see their last paycheck. Oh, and then there's the matter of that unpaid hotel bill...
Most of the time when you acquire or buy a business, you place your bets and take your chances (caveat emptor, as they say). But that's not the way it works on Wall Street. If you're not careful about what you buy, you could wind up with the...
Broker/Dealer management loves separately managed accounts. Individual financial advisors love separately managed accounts. By using outside asset managers to pick stocks, the theory goes, b/ds and their reps are able to concentrate on gathering...
That's Why They Call It Prison, Frank Frank Gruttadauria was sent back to prison in August after he apparently went for a walk right out the front door of the facility where he's serving a seven-year sentence for stealing $115 million from clients...
