Fiduciary Rule to Snag BDs on IRA Rollovers
The DOL is likely to hold broker-dealers who chase IRA rollovers to the same fiduciary standards retirement advisors must meet, ERISA attorney Fred Reish says.
Brent Crude Futures Rise From 4-Year Low; WTI Oil Rebounds
Brent crude climbed from the lowest level in almost four years on speculation prices decreased more than justified.
S&P 500 Pares Biggest Loss Since 2011; Bonds Trim Rally
Jittery markets go through wild ride but recover at close. S&P lost 3% but ended day down 0.8%.
BofA Posts Small Q3 Loss; Merrill Reps Near $1.1M in Average Production
The wealth-management operations report a pretax profit of 27.4% on net income of $813 million.
Stimulus Bets Send S&P to Biggest About-Face Since 2011
Equities slumped on Thursday amid concern over Europe’s economy.
New Hire Roundup: Vanguard’s McNabb to Serve Additional Term at ICI
Meanwhile, Dynasty Financial Partners announced a new partnering with Nova Wealth Advisors.
Best Finance Tweets of the Month: September
On Sept. 1, Scotland was weighing self-rule, Derek Jeter was ruling baseball and Bill Gross was reigning over PIMCO. A different era, it was.
S&P 500 Companies Spend 95% of Profits on Buybacks, Payouts
Companies in the Standard & Poor’s 500 index really love their shareholders. Maybe too much.
Top Portfolio Products: Ivy, ProShares & TIAA-CREF Launch Funds
Fund shops zoom in on mid-cap, managed futures, emerging-markets debt and lifecyle strategies.
El-Erian Talks Jobs, Particularly Bill Gross’
Mohamed El-Erian, former PIMCO CEO, was surprised to hear the news of Gross’ departure.