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adviser
Latest Headlines
Latest Headlines
Fiduciary vs. suitability debate comes to a head
Investment advisors and brokers are watching the industry change before their very eyes. It could change a lot more depending on how the SEC handles some big issues. The biggest of these is the "fiduciary standard vs. suitability" issue, which has defined the adviser vs. broker debate for a de
FINRA orders Citi to pay $11 million in arbitration
Citigroup Global Markets was ordered by an arbitration panel to pay more than $11 million to resolve allegations it mishandled the accounts of Larry Hagman, the actor of Dallas fame. About $10 million will go to a charity of Hagman's choice. Citigroup must also pay $460,000 in legal fees and arbit
Breakaway brokers leave for advisory firms, not to start firms
There are still plenty of brokers at traditional wirehouses that are leaving for greener pastures. These days, they're more likely to join an existing registered investment advisory firm rather that start their own firms, notes Investment News .
This suggests the maturity of the RIA industr
Bank of America board re-make continues
Bank of America continues to re-make its board of directors. The latest: Former Morgan Stanley co-president Robert Scully, 59, has been added the board. He becomes the 14th member of a board that has been whittled down from 18.
Scully is a wizened veteran of the industry. At Morgan Stanley, he
The meaning of Suze Orman
Not too long ago, Suze Orman was the bête noire of the financial advice industry. Lots of brokers and RIAs had less than kind words for this personal finance guru, given her skepticism about the value of what they do. But the financial crisis has kicked her popularity into the stratosphere. Viewer
Former Amaranth trader faring much better now
Remember Brian Hunter, who went from earning $80 million as an energy trader for Amaranth to the rogue's hall of shame when his massive bets on a big fall in natural gas prices didn't turn out well? Well, after some fits and starts, he's faring much better now. Hunter joined Peak Ridge Capital
C&L: Executive Moves
> Wachovia taps Jim Kimball regional president for Northern California
> Rob Ebert tapped as head of equity sales at Deutsche Bank
> Dan Sparks to step down as mortgage chief at Goldman Sachs
> JP Morgan Chase offers Jeffrey Mayer
> Merrill Lynch
Godfather of Soul woes hit Morgan Stanley
In 1999, Morgan Stanley  underwrote $26 million in Pullman bonds for soul legend James Brown, backed by the royalty income from his music. It also managed various accounts held by the estate. However, the New York Times reports that Brown's estate now is suing the investment bank, saying
Will directors pay for financial company sins?
Annual meeting season is upon us, and a big theme this year will be whether shareholders will vent any real anger at large bank directors. Shareholders have plenty to be mad about. So far, union-backed CtW Investment Group has been the most aggressive in voicing a desire to unseat audit and risk
Will JP Morgan keep Alan Schwartz?
At what remains of Bear Stearns , CEO Alan Schwartz isn't exactly inspiring warm and fuzzy feelings. The top executives are incensed that he let JP Morgan Chase steal the firm. Employees are pissed, as most face an uncertain job market. As for Schwartz himself, CNBC reports that JP Morga
