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NEWS INDUSTRY NEWS MAR 05, 2007
Helping RIAs hand off to the next generation

A newfangled model for helping independent investment advisory firms transition ownership to the next generation of employees has attracted two of the industry’s more established financial planning businesses.

INVESTING ETFS FEB 26, 2007
ETFs seek appeal among hedge funds

The Vanguard Group Inc., which long has espoused the virtues of buy-and-hold investing, is encouraging hedge funds — which rank among the most frenetic of investors — to invest in its exchange traded funds.

RETIREMENT LIFE INSURANCE AND ANNUITIES FEB 26, 2007
Class action litigation looms as new hurdle for EIA insurers

Add class action litigation to the regulatory controversies, bad press and other woes plaguing insurers that sell equity index annuities.

NEWS BROKER DEALERS FEB 26, 2007
Yet another CEO parts ways with the Pacific Select Group

Yet another chief executive of a Pacific Select Group LLC broker-dealer is leaving his respective firm, making for a near-complete overhaul in top management of the four broker-dealers in the Pacific Select network.

NEWS INDUSTRY NEWS FEB 26, 2007
Bill to push auto IRA enrollment

At least seven members of Congress, including the chairman of the Senate Finance Committee, are planning to reintroduce legislation that would require many small businesses not offering retirement plans to enroll their employees in individual retirement accounts automatically.

INVESTING MUTUAL FUNDS FEB 26, 2007
Waddell coy on prospects for a sale

Waddell & Reed Financial Inc., an asset management firm started by two World War I pilots, is winning its turnaround battle so far, but some observers say that the upshot ultimately will be to fix it or sell it.

RETIREMENT LIFE INSURANCE AND ANNUITIES FEB 26, 2007
Lifetime-guarantee annuities could end up biting insurers

Industry leaders are concerned that insurance companies are taking on too much risk from annuities that offer guaranteed-withdrawal benefits for the life of the client. Financial services leaders worry that if baby boomers live longer than projected or a downturn hits the market, the financial strength of insurance companies could be threatened.

RETIREMENT TAX FEB 26, 2007
Start maximizing clients’ IRA contributions

Two tax laws scheduled to take effect in the near future will combine to create new opportunities for your clients to convert their traditional individual retirement accounts and company plan balances to Roth IRAs.

NEWS INDUSTRY NEWS FEB 26, 2007
Wholesaling efforts are falling short, report says

NEW YORK — Asset management firms that employ wholesalers are not reaching their full sales potential and can do a lot more to form stronger relationships with financial advisers, according to a report released earlier this month by kasina LLC.

NEWS BROKER DEALERS FEB 26, 2007
Royal alums aim to build national firms

Two of the biggest names — and personalities — until recently associated with Royal Alliance Associates Inc. now are attempting to build national firms.