An influential House committee today approved a comprehensive package of retirement legislation that includes a provision that would permit only independent financial advisers to counsel 401(k) participants on their investment decisions.
A pair of key lawmakers are expected to introduce a bill on retirement reform later this week that could have substantial implications for investment advisers, 401(k) service providers and the majority of employer-sponsored retirement plans.
Wary investors have been steadily moving assets out of safe — but incredibly low-yielding — money market mutual funds in significant numbers since the U.S. markets bounced off of their lows in early March.
Make way for the 1,600-pound gorilla in the money management industry.
Clearbrook Financial LLC has lured a 22-year Merrill Lynch & Co. veteran to serve as its new chief executive.
BlackRock Inc. confirmed this morning that it's in talks with Barclays PLC to acquire the London-based company's $1 trillion money management unit, Barclays Global Investors.
Two of the primary pillars of retirement security are not just on the ropes, but actually on life support.
Smith Barney is not letting at least one of its brokers break away without a fight.
DWS Investments is lowering sales charges and break points on some of its mutual funds, a move that could foreshadow industrywide price cutting to attract disillusioned investors, according to observers.
Just when market conditions appear to be stabilizing, financial advisers now have something else to keep them awake at night: Both Social Security and Medicare are on a pace to disappear even sooner than expected.
