Advisors seem more optimistic about the economy than their own clients, according to a Charles Schwab survey of 1,200 RIAs who manage a combined $234 billion in client assets. ...
UBS Wealth Management Americas saw further net client asset outflows in the first quarter, but the pace slowed to $6.53 billion from the roughly $10.98 billion of client assets withdrawn in the fourth quarter. Improving market conditions softened the blow as total client assets hit $721.6 billion in the brokerage unit of the Swiss banking giant, a 4 percent increase from the fourth quarter. ...
U.S. corporate profits jumped 30.6 percent in the fourth quarter versus the previous year, primarily driven by the financial sector, which accounted for 85 percent of that increase....
Eager to raise cash and get out from under taxpayer loans, PNC Financial Services Group is looking to sell its custody and clearing division, PNC Global Investment Servicing to Bank of New York Mellon. ...
I don’t get it. I thought Treasury Secretary Tim Geithner said the government would earn -— as in profit —- from its TARP loans about $20 billion. So why all this nonsense about punitively taxing bankers’ bonuses and massive new taxes on big financial institutions to recoup taxpayer bailouts? For more, please go to VonAldo.com, the blog of Registered Rep. Editor-in-Chief David A. Geracioti...
Things were looking up for Charles Schwab in August, with new client assets, brokerage account openings and daily average trading up versus July. But the firm is bracing itself for a few bumps in the road....
The independent channel has long been advertised as The Next Big Thing. With its 95,000 or so advisors, the independents are the largest subset in the...
According to London's Daily Telegraph demand for gold has fallen to a six-year low, and jewelry buyers and electronic producers might be to blame. Buyers...
Benjamin F. (Tad) Edwards hired Michael Petiford and Tim Reese from Wells Fargo to join his newly formed St. Louis-based broker/dealer. Edwards is the...
Bears have become increasingly confident that the current equity market rally 49 percent in the S&P 500 from the March trough is due for a substantial...
Sure, stocks have been on a tear since March. But the S&P 500 is still off by 7 percent over the last 12 months. Not surprisingly, assets held at wealth...
In a story titled Picking an RIA that ran in our August issue, we incorrectly stated that HighTower Advisors managed $3 billion in client assets. In fact...
Hedgie Gets $62M Fine: Michael Lauer, head of Lancer management Group and Lancer Management Group II, two Connecticut-based hedge funds, was ordered on...
Positive bank earnings announcements from Wells Fargo, Goldman Sachs and then Citigroup provided enough juice to propel the stock market through a sixth...
Ah, nevermind about those asset sales. AIG is no longer planning on selling businesses to pay back the government’s $85 billion loan, Bloomberg reports. Instead the company may give stakes in some businesses directly to the government. ...
The Baltic Dry Index, which tracks the cost of shipping goods and commodities like coal and iron ore around the globe, has fallen to six-year lows in...
Profiles and fact sheets of independent broker/dealers and registered investment advisories (RIAs), an outsourcing guide, listings of compliance/regulatory consultants, securities lawyers, recruiters, back-office technology offerings and asset management platform providers.
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