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2Q a mixed bag for big firms
The second quarter was a mixed bag for three financial services industry giants that posted earnings last week. Fighting bond market head winds, Raymond James Financial Inc. posted modest profit gains for its fiscal third quarter ended June 30, just missing analyst estimates. Net revenue of $1.11
Five IBDs in $7M settlement over nontraded-REIT sales
Sales of nontraded real estate investment trusts once again have come under the scrutiny of securities regulators as William Galvin, the secretary of the Commonwealth of Massachusetts, last week announced settlements with five leading independent broker-dealers to make $6.1 million in restitution
Ameriprise 401(k) lawsuit set for January court date
Ameriprise workers filed suit in 2011, claiming firm profited from costly plan options
Can ETFs plug the river of outflows at Columbia Funds?
Fund firm plans to offer 17 active exchange-traded funds; weighed down by sagging interest in mutual funds
Two Ameriprise advisers traded on info gleaned from AA meeting: SEC
The SEC claims two Ameriprise advisers made a killing by trading on inside information about an upcoming merger. Where did they come across the info? At an Alcoholics Anonymous meeting, says the commission.
Guggenheim said to weigh bid for Deutsche Bank's fund biz
Guggenheim Partners LLC is among the companies preparing to bid for Deutsche Bank AG's asset-management divisions.
Ameriprise eyes recruiting boost from 'wirehouse fatigue'
Despite a tumultuous year, Ameriprise shifted into 'aggressive growth mode' with a 40% hike in recruiting.
Ameriprise workers sue over company's own 401(k) funds
Claim employer put retirement assets in proprietary funds that incurred $20M in excess costs
New Ameriprise commercials take more conservative tone
Tommy Lee Jones is Ameriprise Financial's new pitchman in ads that take a more conservative tone
Ameriprise, Lincoln have strong VA hedging programs: Moody's
Ameriprise Financial Inc. counts on controlled distribution and Lincoln National Corp. 'goes Greek' to hedge variable annuities.
Ladenburg bonuses should ease retention headaches at SAI
Buyer of Securities America offers carrot to the unit's brokers to entice them to stick; 'most of the advisers will stay put'
Two top Securities America advisers bolt for rival LPL Financial
'Stay bonus' be damned: LPL's gain is Securities America's loss as two top producers depart
‘Significant' rep exits at Securities America
Commonwealth, Cambridge snag brokers who purportedly generated 5% of beleaguered B-D's revenue last year; new owner soon?
UBS, Morgan Stanley subpoenaed over reverse convertibles
Georgia requested information from UBS, Morgan Stanley and Ameriprise Financial in its probe over whether the firms broke the state's securities laws in sales of structured notes called reverse convertibles.
Ladenburg, Cetera in the hunt for Securities America: Sources
Firms said to be on short list of acceptable buyers; PE outfit also thought to be lurking about
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February 27, 2014