FINRA Posts Loss for 2015 as Costs Rise, Fines Drop 30%
Revenue from fines weakened to $93.8 million, while costs grew to over $1 billion on technology projects.
Morgan Stanley Expanding Philanthropy Efforts for Clients
The wirehouse says it dives deep with private clients who want to make a difference, as it did at recent event.
How a UK Advisor, Strategist Handled Brexit
London-based Raymond James wealth manager Matthew Hunt and his colleague, Chris Bailey, say their clients aren’t panicking as "the dust settles."
FINRA Fines Deutsche Bank $6M for Bad, Late Trading Data
The failures in the firm's blue sheet data systems involved over 1 million trades from 2008 to 2015.
Fidelity Fires Latest Shot in Index Fund Fee War
Fidelity's cut to expense ratios on 27 index funds comes several months after Vanguard announced a round of expense cuts.
Wells Fargo, Advisors Say Rollout of New Tech Tool Is ‘Big Win’
Recently launched dashboard brings different applications together so advisors have one view of client account information.
Beyond 401(k)s, Merrill Boosts Offerings to Corporate Clients
The wirehouse has created a new executive post to increase banking, wealth management and "financial wellness" services for corporate clients and their employees.
Stifel Sells Independent, Custodial Units of Sterne Agee
The deal comes about one year after it bought Sterne Agee for $150 million.
Brexit Sends Banks, BDs Reeling
Analysts say that the British vote will hurt the earnings of big banks and BDs, but one contrarian says it's time to buy the sector.
SEC Deals Merrill a $425M Wallop; Other Firms Could Be Next
The regulator says the wirehouse failed to safeguard investors' cash and other holdings; other broker-dealers must self-report customer protection violations by Nov. 1.