Govt Says You Are Consumer AND Investor
The latest leak on the Obama administration’s financial regulatory revamp plan, which will be officially revealed Wednesday, calls for the creation of a Consumer Financial Protection Agency. The Wall...
View ArticleObama Plan Could Speed Transition To Financial Advising
Buried on page 71 of the 88 page Regulatory Reform proposal announced yesterday by the Obama administration is a suggestion that Wall Street brokers should be held to the same standard as independent...
View ArticleCall It What You Want, It’s A Kickback
If we were talking about Billy Bob’s Securities Inc. or some boiler-room operation, this would be mildly interesting and not too shocking. But it is Ameriprise Financial, a nationwide financial...
View ArticleIndividuals Dipping Toes Back Into Markets
As evidenced by profits Wall Street banks and trading forms have been logging, the professional investor has clearly returned to the markets. Now, we are seeing more evidence that individuals are as...
View ArticleLimited Democracy Suits Fed Well
The chairman of the Federal Reserve hosts a town hall meeting. Some in Congress want the ability to analyze interest rate decisions after the fact. More than just central bank scholars are raising...
View ArticleA Novel Idea – Get Paid For Performance
Putnam Investments is looking to regain some of its past might by cutting some of its fund fees to attract new business. But the real news to me in the company’s press release announcing the management...
View ArticleWhat Gorman & Krawcheck Have In Common
James Gorman and Sallie Krawcheck have a couple of things in common. Both are heading up two of the largest retail brokerage operations in the country, now that Krawcheck was named today as head of the...
View ArticleHobbled Wall St. Provides Ameriprise Opportunity
Welcome to the big leagues, Ameriprise Financial. Already one of the largest financial advisory firms in the U.S., Ameriprise today became one of the largest asset-managers as well with the acquisition...
View ArticleNext Smart Thing UBS Should Do – Bring Back PW
It may have been an acquisition that made sense on paper. But the purchase of PaineWebber by UBS never really worked the way the Swiss bank had hoped. The bank, with a big private banking business in...
View ArticleWelcome Back, Don Marron
Donald Marron has his fingers back in a business he knows very well – broker-dealers. Overnight, the former head of PaineWebber (when it was a publicly traded company) agreed to buy several...
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