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Bank Brokerage

  • Bank Annuity Sales Finally Stabilize

    September 2, 2010

    Fixed annuities, which experienced a sales boom last year in banks, stem the bleeding, while variable annuities finally start trending upward, Kehrer-Limra says.

  • Community Bank Investment Programs on the Upswing

    September 1, 2010

    Community banks reported investment program income of $110.1 million for the first quarter, up from 4.6% in '09's fourth quarter and a 12.6% jump from the first quarter of '09.

  • Bair Promises Quick Turnaround for FDIC Resolution Rules

    September 1, 2010

    The FDIC chairman said the agency would soon publish an interim rule on its new resolution authority over systemically important banking companies and certain nonbanks.

  • Rebuilding Citi

    September 1, 2010

    Citi's switch last year to a fee-only program that targets wealthier clients caused many bank brokers to leave, but some advisors, like Owen Watstein, a super-producer working out of a branch on Manhattan's tony Upper East Side, is gung-ho about the opportunity to grow his recurring revenue business.

  • Ohio Funds Can Proceed With Case Against BofA, Merrill Lynch

    August 31, 2010

    A New York Federal District Court has “substantially denied” Bank of America Merrill Lynch’s motions to dismiss a September 2009 case filed by Ohio Attorney General Richard Cordray on behalf of five pension funds.

  • PNC Steers Savings-Focused Virtual Wallet Toward Spending

    August 31, 2010

    PNC is betting that its Virtual Wallet account, which has always focused on teaching consumers to be better savers, can also teach them to be better spenders.

  • Banks Grow 2Q Life Sales by 19%

    August 27, 2010

    Premiums in life insurance of all stripes was up across the board in the second quarter, but term life couldn’t keep pace with last year’s record run.

  • Bank Advisors Split on Fiduciary Standard

    August 26, 2010

    While some advisors complain a fiduciary standard would be an unnecessary compliance expense, others say being able to raise client expectations is a plus.

  • FINRA Fines Zions Bancorp unit $225,000

    August 26, 2010

    The securities industry regulator fined a Zions Bancorp unit $225,000 for failing to disclose a potential conflict of interest in online auctions for certificates of deposit.

  • U.S Trust Makes Eight Wealth Appointments

    August 23, 2010

    As part of an ongoing spate of new hires over the past few months, Bank of America's U.S. Trust unit added eight wealth management executives to its team on Friday.

  • Bank Reps’ June Production Beats Expectations

    August 23, 2010

    Indicators suggested bank-based advisors’ revenue would slip in June, but average production went up.

  • Wells' Private Bank Binds Clients with Elder Service

    August 19, 2010

    The service, available to private bank clients, aims to help older people maintain their independence and quality of life.

  • Raymond James Lawsuit Dismissed

    August 17, 2010

    Raymond James Financial won the dismissal of a class-action lawsuit on Monday after the judge in the case said the complaint was too long and didn’t contain enough facts.

  • Bank Holding Companies' Insurance Sales Rise

    August 10, 2010

    P&C leads bank-holding-company insurance sales upward in a soft market’s sixth year.

  • Lighthouse Financial Stops Trading, Up For Sale

    August 6, 2010

    Mini-prime broker Lighthouse has notified its 22 hedge fund clients that they can no longer execute new orders.