04/02/2012

Lawsuits test UBS advice on offshore bank accounts

Tax lawyers describe the suits, emerging from a crackdown by federal authorities on Swiss banks, as the first of their kind in the United States to assert that Swiss bankers made improper assertions to their U.S. clients about the tax implications of thei

04/02/2012

Merrill Lynch Anniversary Reminds Wall Street of Ethics

Amid the incessant drumbeats of protesters and strident manifestos upon resignation, amid the debates over the Volcker rule and the Buffett tax, the words of Charles Merrill serve to remind the financial community of the quiet power of doing well by doing

04/02/2012

Raymond James Closes Morgan Keegan Acquisition

Raymond James Financial announced today that it has completed its acquisition of Morgan Keegan, creating one of the country’s largest full-service wealth management and capital markets firms not headquartered on Wall Street.

03/30/2012

Wirehouses Lose Top Spot in High-Net-Worth Market for First Time

While the high-net-worth market share of wirehouses slipped to 45% from a peak of 56% in 2007, and is projected to fall to 42% by 2014, both of the industry segments with which wirehouses compete in this space—traditional private client groups and m

03/30/2012

Canada lags on fiduciary duty, fee transparency

As returns dwindle and financial markets lurch from crisis to crisis, more investors are focusing on how much they are paying for financial advice and products that aren't living up to expectations.

03/28/2012

TV Journalist Starts Woman-Owned Advisory Firm in Manhattan

Back in 2010, Financial Planning featured Wong Ulrich on its cover with a story she authored about the changing face of financial planners. In the piece she argued that more planners of color are needed to serve the growing ranks of wealthy minorities.

03/28/2012

Citigroup Study Shows Asian Rich Topping North American

The number of Asians with at least $100 million in disposable assets overtook North America’s tally for the first time as the world’s “economic center of gravity” continued moving east, Citigroup Inc.’s private bank said.

03/28/2012

Citigroup Study Shows Asian Rich Topping North American

The number of Asians with at least $100 million in disposable assets overtook North America’s tally for the first time as the world’s “economic center of gravity” continued moving east, Citigroup Inc.’s private bank said.

03/26/2012

Morgan Stanley wants to buy out Citi from wealth JV

Morgan Stanley is interested in buying all of Citigroup Inc's stake in their wealth management joint venture this year in what could be a roughly $10 billion deal, said people familiar with Morgan Stanley management's thinking.