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Ketchum suggests brokers falling short in discussing risk
Finra chief says fixed income, structured products demand straight talk to clients.
UBS should hive off wealth management unit, shareholder says
In a letter to UBS staff and shareholders, Knight Vinke said the bank should split up its investment bank and wealth management units.
What should you expect from your broker-dealer?
A new whitepaper from Summit Brokerage Services, Inc. Total assets that you personally manage or advise * Download whitepaper Share your research with the investment community and stand out as a thought-leader. For more information on posting your research on our website, contact Ayana Reid at
Morgan Stanley wealth management shines
James Gorman once set a 20% margin target for Morgan Stanley's wealth management operation — then lowered it. Given the stellar 1Q performance of the unit, maybe he should go back to the original goal.
Pay up to play: Securities exam fees to increase June 1
Fees for securities licensing exams will increase as of June 1, the North American Securities Administrators Association Inc. announced today. Broker and investment adviser candidates who take the Series 63 exam will be charged $115, up from $96 currently. The Series 65 fee will be $155, up from
The Takeaway: Hold your horses on preferred stock
PortfolioGoldman Sachs: Forget gold, nat gas is the new safe haven. ( The Tell )That Reinhardt-Rogoff research that's been used to justify an avalanche of austerity around the world? There may have been a small error ( Next New Deal )Some good values in the oil & gas patch based on quantitative
Court backs brokerages in forcing employees to hold accounts in-house
Appeals court in California says brokerage firms can force employees to hold accounts in-house, that flexibility in in trading policies rules.
The Takeaway: ECB caves on Cyprus bailout
PortfolioECB caves in on Cyprus bail out, will provide liquidity rather than rob its own citizens to protect hedge fund bondholders. The market likes it. ( Business Insider )Should you buy Claymore's new spin-off ETF? ( ETFdb )The BizMore on Raymond James's new RIA-like platform. ( RIABiz )Senate
New normal getting old: Another year of slow growth for U.S.
At Pimco, we have long believed that the global economic recovery from the financial crisis of 2008 was to be subpar despite the historic amount of stimulus applied in 2009. The “new normal” recovery, as we described it then (see Pimco Secular Outlook, “A New Normal,” May 2009), was fraught with
Finra collecting conflict data from 14 firms
The brokerage industry's regulator is collecting information from 14 large firms regarding potential conflicts of interest related to compensation and product sales in an effort to flag problems and highlight best practices. “We're looking both to identify anything that we think is a serious
Finra's broker-comp proposal raises hackles
Two large industry groups have slammed a Finra proposal that would require greater disclosure of incentive bonuses.
RJ retires Keegan brand early
Completes integration of Morgan Keegan financial advisers and their clients onto the company's technology platform
So long, Morgan Keegan
Raymond James Financial Inc. has completed the integration of Morgan Keegan advisers and their clients to the company's technology platform ten months after closing on the acquisition of the brokerage. It simultaneously announced the retirement of the Morgan Keegan & Co. Inc. brand a year ahead of
Analyst, big-time fund managers tout BofA shares
Improved capital levels at Bank of America Corp., the second-largest U.S. lender, have led Meredith Whitney and other analysts to tout the stock. Lansdowne Partners Ltd., the largest European hedge fund that invests in equities, purchased 26.5 million shares in the fourth quarter, spending more
Senator pushes SEC's Walter on fiduciary rule
New Senate banking committee leader says uniform fiduciary duty should be a priority.
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Mary Beth Franklin, InvestmentNews
Harley Gordon, CLTC