wealth management

(Newser) - Investment bank Morgan Stanley announced it would buy the online brokerage E-Trade for roughly $13 billion, one of the biggest deals on Wall Street since the financial crisis. The deal also is the latest chapter in Morgan Stanley's transformation from a scrappy, deal-doing, stock-trading investment bank to a more...

(Newser) - Prosecutors in Colorado want Martin Joel Erzinger to keep his job as a financial manager to the ultra-wealthy—so they dropped felony charges against him in a hit-and-run case. Erzinger, 52, will instead face two misdemeanor charges for allegedly hitting bicyclist Dr. Steven Milo on July 3 and then fleeing...

(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...