financial adviser

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Epstein's Only Named Client Absolutely Savages Him

'My trust in him was grossly misplaced,' says Leslie Wexner

(Newser) - Jeffrey Epstein is a fraudster as well as a sex offender, according to retail mogul Leslie Wexner. The billionaire founder of L Brands, parent company of Victoria's Secret, was the financier's only named client for many years in an arrangement seen as highly unusual . In a letter to...

Financial Advisers Might Have to Start Giving You Sound Advice

Rule will require all of them to work in their clients' best interest

(Newser) - Americans trying to save for retirement might be pleased to learn that a new law expected next year will require something that sounds obvious: All financial advisers will be required to work in their clients' best interests. As Vox explains, that is "amazingly" not the case now. Two kinds...

Obama Adviser Romer Quits Amid Feud With Summers

She's frustrated over lack of access to Obama, says report

(Newser) - The National Journal sniffs out some infighting among the Obama economic team and reports that adviser Christina Romer will resign. Her official title is chair of the Council of Economic Advisers, and she's supposedly miffed that she doesn't have as much access to the president as main financial adviser Larry...

Brokers Ditch Big Firms, Hang Out Shingles

Exodus sees decline in big Wall Street's share of client money

(Newser) - Independent financial advisers are gaining on the big Wall Street firms in managing personal assets, as more brokers leave companies they see as unreliable or tarnished. Those heading for the exits are taking many of their clients with them, creating a net outflow in 2009 of about $188 billion in...

Stewart's Hit Job Won't Keep 'Clueless Pundits' Off TV

(Newser) - Jon Stewart’s takedown of Jim Cramer and CNBC is indicative of a real, if fleeting, sea change in our attitudes about the economy, Thomas Frank writes in the Wall Street Journal. “The applause Mr. Stewart has received for his j’accuse is the sound of the old order...

Help Jim Cramer—Arcade Style
 Help Jim Cramer—Arcade Style 
Mar 17, 2009 2:41 PM CDT

Help Jim Cramer—Arcade Style

New game lets you fend off Mad Money host's critics

(Newser) - Jim Cramer is facing his share of critics, from Jon Stewart to Fox Business, the San Jose Mercury News reports. Now you can help him defend himself in a new web video game: Jim Cramer’s Crashsteroids. Steer Cramer’s sneering mug as he takes aim at his detractors in...

'I Save a Lot of People Money': Cramer to Stewart

(Newser) - Jim Cramer is once again on the defensive, as Jon Stewart seemingly can’t stop finding damning Mad Money clips, Gawker reports. Appearing on this morning's Today show, Cramer was subjected to a CNBC snippet that ran on the Daily Show last night, from January 2008, where the host literally...

Money Guru: None of Us Really Knows What to Do
Money Guru: None of Us Really Knows What to Do
OPINION
Mar 1, 2009 2:45 PM CST

Money Guru: None of Us Really Knows What to Do

Pundits should hedge their bets and speak with caution

(Newser) - Financial pundits don’t know everything, and don't trust those who act like they do, Joel Lovell writes in the Washington Post. The GQ money expert acknowledges anxiety over dispensing information that may not be true at all. “It makes me feel like a bit of a fraud,”...

Madoff Scandal Turns Up Heat on Financial Advisers

Loophole lets Madoff types profit from bad advice, they say

(Newser) - Wall Street advisers and brokers are tussling over the details of a looming regulatory overhaul as Washington takes steps to prevent another Bernard Madoff scandal, Bloomberg reports. Advisers want brokers who counsel clients to be subject to the same oversight they’re under; currently, their brokerage counterparts can profit by...

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