Wealth management

TD Ameritrade Institutional has introduced a set of practice management initiatives, in a bid to win over a major share of business from so-called breakaway brokers and advisers leaving large independent advisory firms.

ETF Securities, the largest provider of exchange-traded commodity products in Europe, crossed over into the U.S. less than six months ago and is already gaining a following in an industry largely controlled by an elite group of veterans.

Bill Gross, Morningstar's Fixed-Income Manager of the Decade, works 3,000 miles from Wall Street. Perhaps it was that distance that helped him and his Pimco colleagues anticipate the housing crisis.

A report by First Command Financial Services Inc. says Americans increased savings and slashed debt in the fourth quarter.

Some 70% of people over the age of 65 will need long-term care at some point in their lives, and that gets very expensive if you're not prepared for it.

A securities arbitration panel has ordered Raymond James & Associates Inc. to pay $12.1 million to Wells Fargo Advisors LLC for alleged adviser raiding.

A former watch company owner who held offshore accounts at UBS AG has pleaded guilty to failing to tell U.S. tax authorities about $10 million of offshore assets.

Banks stand to benefit from President Obama's proposal that workers be automatically enrolled in individual retirement accounts.

State Street Corp. announced Thursday that it has reached settlements to resolve investigations into losses incurred by and disclosures made around active fixed-income strategies managed by State Street Global Advisors.

James Gorman, Morgan Stanley's new president and chief executive, has outlined ambitious targets for its global wealth management division, which includes the newly integrated Morgan Stanley Smith Barney.

Wire houses will continue to dominate the adviser industry for the foreseeable future, according to a report from Cerulli Associates.

Bank of America Corp. is reportedly going on a spending spree to add more financial advisers

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In an effort to match competitors, Fidelity Investments has reduced commissions for online U.S. equity trades made by retail investors and financial advisers.

TD Bank Financial Group said Wednesday it is "transitioning out of" its financial advice business.

MetLife is in talks to buy one of American International Group Inc.'s largest international life-insurance units, but MetLife's top executive says his company does not need such deals to grow.

Some analysts said Bank of New York Mellon's latest deal is a defensive move to box out Northern Trust from becoming a top competitor in asset servicing.

While some banking companies continue to hoard capital, Bank of New York Mellon Corp.'s top executive said expansion remains its top priority. But some analysts said its latest deal is clearly a defensive move to box out Northern Trust Corp. from becoming a top competitor in asset servicing.

Citigroup Inc. plans to sell or split off its $10 billion Citi Private Equity unit, expanding the list of money management businesses the company is disposing of to reduce debt, people familiar with the matter said.

Many large money managers have been divesting in the past few years to focus on core businesses, but Invesco Ltd. retained its trust unit, Atlantic Trust. The decision is paying handsome dividends.