Stifel snags $935 million adviser team from Merrill Lynch

Stifel Financial Corp. announced Friday that an adviser team managing $935 million in client assets is leaving Merrill Lynch to join the firm’s broker-dealer subsidiary, Stifel Nicolaus & Co. Inc. The team, which consists of four long-time Merrill Lynch advisers, marks the third group of…

Firms, regulators, plaintiffs’ bar set to determine whether Reg BI protects investors

One of the first major actions Securities and Exchange Commission Chairman Jay Clayton took after assuming his post in 2017 was to release on June 1, 2017, a request for comment on conduct standards for investment advisers and brokers. The investment advice reform regulatory package…

401(k) trading didn’t hurt returns for participants in Q1: Report

Most 401(k) participants didn’t touch their accounts during the volatile first quarter — but those who made trades didn’t necessarily suffer lower returns, a recent paper suggests. Less than 9% of participants traded within their accounts during the first three months of 2020, a rate…

More ‘doubt’ about this broker-dealer’s future

For the second year in a row, Newbridge Securities Corp., a small to midsize broker-dealer with a history of compliance problems, has released a tough portrait of its financial health. At the end of 2019, the firm had an accumulated deficit of $9.2 million and…

Timing a Social Security claim when you have children

With the high incidence of divorce and remarriage these days, it’s not unusual to hear stories about families headed by older fathers — some old enough to claim Social Security — with school-age children at home. When it comes to timing benefits for minor dependents,…