Hey Big Spenders, Warren Buffett May Have His Eye on You

Sep 13, 2016

(Bloomberg Gadfly) -- Warren Buffett induced chuckles earlier this year when the octogenarian said he wasn't convinced he'd be any likelier to reach the ripe old age of 100 by replacing his beloved Coca-Cola with water or his...

RIAs Are Not Without Conflicts

Sep 12, 2016

A new analysis by the Institute for the Fiduciary Standard found that the Form ADVs of nine large financial services firms, including Edward Jones and Merrill Lynch, have more conflicts of interest than those of the 135 registered investment...

Stifel, SEC Reach Deal over Wisconsin School Investments

Sep 12, 2016

Stifel Financial's brokerage unit has reached a deal with the SEC to resolve claims it misled five Wisconsin school districts about the risks of sinking $200 million in investment products linked to the financial crisis.

Lynn Tilton Sues U.S. SEC Again, Calls Cases Unconstitutional

Sep 12, 2016

Lynn Tilton, the New York financier accused by the U.S. Securities and Exchange Commission of defrauding her investors, has sued the regulator to stop it from pursuing unfair in-house enforcement cases against her and others.

Bill Gross Wants Pimco, Lawyers Punished for 'Bad-Faith' Tactics

Sep 12, 2016

Bond fund manager Bill Gross said Pacific Investment Management Co and its lawyers should be punished for unfairly impeding him from pursuing his $200 million lawsuit against the asset management firm, which he co-founded.

Cerulli: Home Office to Usurp RPM as Preferred Advisor Model

Sep 12, 2016

Home-office portfolios often outperform advisor-controlled ones, according to a Cerulli Associates report. Couple that with decreased compliance risk, and it’s likely the home-office model will become more prevalent in a post-DOL world...

BlackRock Seeks More Scrutiny of Burgeoning Robo-Advice Market

Sep 12, 2016

(Bloomberg) -- BlackRock Inc. urged regulators to increase scrutiny of robo-advisers as customers flock to automated services, lured by low fees and ease of use...

DOL Rule a Bad Neighbor for State Farm

Sep 12, 2016

Moving on. | Copyright Tim Boyle, Getty Images State Farm is tweaking its product offerings available to its agents, and the Department of Labor’s fiduciary rule is partly to blame. Currently about 12,000 of the insurer’s agents are licensed t...

Bank of America Agrees to Pay Ex-Merrill Lynch Brokers $12.8 Million

Sep 09, 2016

Former Merrill Lynch advisers who were fired after Bank of America merged with the brokerage in 2008 won back some of the deferred compensation on which they had missed out.