Loss of Tax-Exempt Status Could Hurt Banks With Muni Exposure
Meredith Whitney’s warnings about a wave of bankruptcies two years ago didn’t kill munis, but will ending their tax-exempt status push these securities over the fiscal cliff?
Sandy Rips Through East Coast: The Aftermath
Some coastal areas saw record storm-surge flooding, while strong winds knocked out power to more than 7 million customers in 15 states.
New Hire Roundup: U.S. Bank Names Jeppson CIO of Private Client Group
This week in new hires, Mary Martuscelli joined The Private Client Reserve as west region president, and Moss Adams announced a transition in leadership.
New Hire Roundup: TD Ameritrade Institutional Adds Dario
Also this week in new hires, Joseph Nader joined Wescott Financial Advisory Group; Will Proctor went to a new spot at Neuberger Berman; and more.
6 U.S. Cities That Fell Off the Fiscal Cliff—and Survived
AdvisorOne looks at six municipalities that filed for bankruptcy but climbed their way back to solvency.
Bull Kiesel, Bear Shilling Clash Over Housing
"If housing goes down 20%, I will back up the truck and likely PIMCO will, too," Kiesel says. Shilling predicts "recessionary kinds of things" in the next three to four years.
TD Ameritrade’s Sales Chief Vows to Keep Pounding Fiduciary ‘Advocacy Drum’
Peter Dorsey says he will work on continuing to attract breakaway brokers to TDAI custody platform; sees ongoing trend on ‘tuck-ins.’
New Hire Roundup: Dowling & Yahnke Advance 4; Key Private Bank Launches Delaware Trust
Among the hiring action this week: Dowling & Yahnke announced four promotions; Key Private Bank launched a Delaware trust company; Patrick Goshtigian joined EP Wealth Advisors; Jane Bachmann and Eugene Miller went to Citi Private Bank.
Health Care Costs to Top $10,000 Per Worker for First Time in 2012
Despite the fact that health care costs are projected to rise at a slower rate in 2012 than they did in 2011, according to Aon Hewitt, the per-employee expense to companies will pass $10,000 for the first time in 2012. Employee expenses are on the rise as well.
FINRA’s Suspension of Advisor for ‘Unbalanced’ Tweets Offers Warning
In a case that speaks to the limits put on social media, FINRA suspended the founder of Titan Securities for using Twitter to make "overwhelmingly positive" predictions about one of her own stock holdings.