TD Waterhouse avoided a lawsuit from Charles Schwab yesterday by issuing a public apology for a negative portrayal of the firm in its ads. The underlying truth: These are trying times for the online brokerage industry.
Under a recent Department of Labor (DOL) directive, revenue-sharing arrangements between mutual funds and advisors to employee benefit plans are likely to remain in place. However, they will no longer be used to pad profits
Advisors gunning for millionaire clients now have 1.3 million more prospects to choose from—and a blueprint for what they’re looking for, according to a new survey.
Morgan Stanley has inserted language into its advertising contracts with key media organizations: If you write “objectionable” stories, don’t run our ads for a minimum of 48 hours, according to the May 16 issue of Advertising Age
The opening session of the Investment Company Institute’s General Membership meeting in Washington, D.C., yesterday felt a lot like a reality TV show. The ICI broadcast video interviews of actual fund shareholders discussing their take on...
Bonds aren’t meant to be risky investments, especially not those issued by blue-chip companies. So when GM and Ford, two industrial stalwarts, had their bonds downgraded to junk last week, people took notice.
Morgan Stanley’s embattled CEO Philip Purcell tried to shore up shareholder support and squelch the almost daily flood of media speculation over the firm’s future Tuesday with his first public address since the controversy over his...
Joel Marks is in a race to get big before he gets crushed. Marks, vice chairman and COO of independent broker/dealer Advanced Equities in Atlanta, more than tripled the size of his independent advisor force with two acquisitions in the past year...
About a year-and-a-half ago, John Marshall surveyed his client roster and decided it was time to go after the really big bucks. The likeliest avenue, he figured, was gathering prospects through referrals from existing accounts. Marshall, an...