Bank of America Corp.s Merrill Lynch brokerage won final court approval of a $160 million settlement of a lawsuit in which it was accused of denying black financial advisers the same opportunities as their white counterparts.
Planned changes to the advisors compensation include an increase in the production hurdles on its cash grid.
A quarter of households aged 50-59 are "advice opportunity" households, a new study by Cerulli Associates shows.
The ongoing debate over community bank consolidation also extends to big shareholders. While most prefer to see deals, there are a few who argue that well-run banks can stay independent.
The new hires are part of the wealth managers campaign to boost its sales force and add private and mortgage bankers and other professionals in key wealth markets by the end of 2014.
Efforts to curb public-employee power in states such as Wisconsin, Indiana and Michigan, may embolden other municipalities, leave workers more vulnerable and prompt unions to new tactics of opposition.
The independent broker-dealer got into hot water over unsuitable fund sales, according to FINRA.
Exclusive: In the wake of its CEO's bike crash, a series of changes at San Francisco's Presidio Group has put expansion plans on hold and left the firm working to rechart its course.
Former Bear Stearns managing director Roberto Bobby Ruiz was sentenced Tuesday to two years in federal prison for his role in a massive El Paso County corruption case that led to numerous convictions of public officials.
CEO Laurence D. Fink, who last year said he would invest 100% of his personal wealth in equities, said pension funds wont meet their liabilities unless they put more money in stocks.
For United Capital's newest advisor, it was the tools that closed the deal.
The largest U.S. banks are pushing back against the Fed's ambitious vision to build a ubiquitous electronic retail payments network that would move money far faster than banks do today.
The firm plans to reward advisors who team up to focus on goals-based planning.
Half of U.S. households remain at risk of being unable to maintain their standard of living in retirement, despite the surge in stock market and housing prices.
Sixty percent of CFOs believe the state of the U.S. economy will remain stagnant or worsen during the next six months, according to a new survey by Grant Thornton.
Deutsche Bank AG, Europes biggest investment bank by revenue, barred multi-party chat rooms at its fixed-income and currency trading businesses as regulators continued punishing banks for alleged rate-rigging.
Deutsche Bank AG and Royal Bank of Scotland Group are among six companies fined a record 1.7 billion euros ($2.3 billion) by the European Union for rigging interest rates linked to Libor.
The overall advisor population has been sliding -- and a new study finds that only one category of advisors is expanding to fill the gap.
Wall Street banks, which already shut proprietary trading units that helped fuel record profits, are girding to learn next week how much revenue the Volcker rule may cut from the $44 billion they say comes from market-making.
The firm sweetened awards for financial planning and increased pressure on its lowest producers.