Ameriprise Financial Services has long been accused of possessing a culture that’s more concerned with sales commissions than compliance. The latest allegations against the company from the New Hampshire Bureau of Securities Regulation...
Stan O’Neal opened Merrill Lynch’s earnings call by not beating around the bush: The firm had a net loss of $2.3 billion, due largely in part from $7.9 billion in write-downs related to exposure to sub-prime mortgages and...
The barriers to going independent are shrinking. Don’t believe it? Check out Mraz, Amerine & Hirschler & Associates, a new RIA in Modesto, Calif., a firm launched by three wirehouse advisors who left Morgan Stanley earlier this month with ...
The SEC has filed a complaint against a former LPL rep and branch manager, who, the SEC says, had been engaging in one of the oldest broker tricks in the book: Stealing his clients money.
How’s Billy’s 529-plan coming? More gloomy news for parents is good news for financial advisors: Tuition continues to rise at an inflation-topping rate, according to the annual survey by the non-profit organization College Board.
By announcing the likelihood of a multibillion-dollar write-down in its third quarter a few weeks ago, Merrill Lynch prepared investors for dismal earnings. One day before their release, just how bad those earnings will be is fueling the rumor mill.
Many users of the popular tenant-in-common (TIC) investment vehicle in commercial real estate are hoping they have the stamina to withstand a double blow
It may be better to fight than to make a deal when the Financial Industry Regulatory Authority’s (FINRA) enforcement division comes calling, according to an annual study of disciplinary proceedings by the Washington D.C. office of the law...
So Citigroups’ third quarter profits are down 57 percent, net income fell to $2.38 billion compared with $5.51 billion in the same quarter last year. The stock price has been at a near standstill since 2004. Investors are calling for Chuck...
If you run a registered investment advisory (or work for an RIA as an investment advisor representative) and haven’t been paid a visit by the SEC in a while, here is a fun fact to know and tell: Forty percent of RIAs examined in 2006...
