Desperately Seeking Advisors For RR’s 28th Annual Outstanding Advisor AwardsJan 9, 2008 12:27 PM We, the editors of Registered Rep. magazine, are officially opening our annual hunt for the best in the business. That’s right, we’re asking for nominations for the Outstanding Advisor Awards ... Breaking Up Is Hard To DoMay 9, 2008 10:39 AM, By Nancy N. DiCostanzo Despite calls by numerous shareholders to break up Citigroup and spin off poorly performing businesses, it looks like CEO Vikram Pandit will be taking his cues from Al Green today: Let’s stay together. As reported by the New York Post, today's analyst and investor meeting will not involve Pandit announcing plans to dump Citigroup's integrated bank model.... UBS Needs A Lift TicketMay 8, 2008 3:09 PM, By Nancy N. DiCostanzo The New York Post reported today that UBS is facing serious scrutiny by the SEC and the DOJ to determine whether or not the bank aided clients in committing tax evasion from 2000 to 2007. Maybe Wesley Snipes was a client?... LPL Financial Heats Up The RIA WorldMay 5, 2008 8:00 AM, By Halah Touryalai Charles Schwab, Fidelity, TD Ameritrade and Pershing will soon have a new and powerful rival to worry about, while the hybrid broker/independent RIA model should get a major boost. The largest independent b/d in the U.S., LPL Financial, announced today it’s going to launch an RIA custodian later this year, which will serve both hybrid and fee-only investment advisors who operate independent RIAs. LPL currently has about 12,000 Series-7 advisors under its massive b/d umbrella.... Banc Of America Dishes Out $10 Million For Fiduciary ViolationsMay 1, 2008 4:50 PM, By Halah Touryalai Bank of America Corp. just got about $10 million poorer. Its broker/dealer, Banc of America Investment Services Inc., settled charges today that it failed to disclose that it favored mutual funds affiliated with the firm. ... FINRA Fines American FundsApr 30, 2008 4:08 PM, By David A. Geracioti Every rep loves American Funds: The fund family—the nation’s largest, with $1 trillion in assets—offers decent performance for relatively inexpensive fees. ... Citi Hedge Fund Blow Up Hurts Clients—And Sends Advisors PackingApr 29, 2008 5:48 PM, By John Churchill While Smith Barney tries its darnedest to hold on to the money of wealthy clients that were invested in two of the firms’ failing hedge funds (subscription required), it’s also having a hard time keeping some of its best brokers. With all the uncertainties and troubles facing Citi, the firm’s prized retail brokerage operation has become a favored target of recruiters, say recruiters. ...
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