Broker Dealers
Read about the industry's top broker-dealers, including news, analysis, commentaries and more.
Piper Jaffray Q2 Results Show Earnings Disappointment on Fixed Income Weakness
By Joyce HansonPiper Jaffray announced net income of $7.4 million, or $0.36 per diluted common share, for the second quarter ended June 30, 2010, compared to net income of $11.6 million, or $0.59 per diluted common share.
July 21, 2010
SEC to Give 12b-1 Fees a Structural RevampThe Securities and Exchange Commission (SEC) said Wednesday, July 21, it planned to do away with 12b-1 fees as they are currently structured.
July 21, 2010
Schwab Study: RIA Mergers and Acquisitions Accelerated in First HalfThe independent RIA industry experienced strong merger-and-acquisition (M&A) activity during the first half of 2010, according to data compiled by Schwab Advisor Services.
July 21, 2010
Call for Papers: Applying the Fiduciary Standard in a Brokerage SettingThe Boston University Review of Banking & Financial Law and The Committee for the Fiduciary Standard announced a "call for papers" to address applying the fiduciary standard to brokers who provide advice to individual investors.
July 21, 2010
Morgan Stanley Raises Profits as Wealth Unit Sees OutflowsMorgan Stanley Smith Barney said Wednesday, July 21, that its global wealth management clients withdrew net $5.5 billion during the second quarter
July 21, 2010
BlackRock Doubles Q2 Net Income, but Client Outflow Problems PersistBlackRock reported Q2 2010 net income of $432 million, up $214 million from a year ago and up $9 million from the first quarter.
July 20, 2010
TD Ameritrade Net New Assets: Up 30% vs. Last YearThe average fee-based balance for the April-June quarter was $62.4 billion, up from $59 billion a year ago and $59.5 billion in the previous quarter, online-broker TD Ameritrade reported
July 20, 2010
BNY Mellon Boosts Earnings on Lower Clearing IncomeRevenue from clearing services to broker-dealers and RIAs was $369 million in the most-recent period, down 8% from last year but up 1% from the first quarter.