When entrepreneur David Barrett couldn't find an investment firm he trusted to manage several million dollars, he created his own.
Insurance agents and advisers are hawking annuities without grasping the adverse impact on clients' estate plans, industry observers said.
Ameriprise posted strong returns, while E*Trade took a larger-than-expected plunge into negative territory.
First-time jobless claims fell by 1,000 to 301,000, the lowest level since early September.
For all of 2007, the median sales price of an existing single-family home fell 1.8%.
Franklin Resources reported a 21% increase in profits while Janus Capital Group experienced a 29% drop in earnings.
The new benefit will go with UBS’s target retirement funds and other investment options.
Piper Jaffray's earnings fell 27% with net income falling to $15.1 million while Jefferies reported a loss of $24.2 million.
Asian stocks bounced back while European securities slumped following the Federal Reserve's interest-rate cut.
Although they are pessimistic about the U.S. economy, they are optimistic about their own company's prospects.
The subprime-credit debacle caused the firms' profits to fall sharply in the fourth quarter.
John Koehler will lead a group of nine specialists, each one focusing on advanced planning techniques.
Treasury Secretary Henry Paulson this morning expressed optimism that a temporary growth plan can be enacted quickly.
In an surprise move, the Federal Reserve cut interest rates from 4.25% to 3.50%.
The typical American financial adviser is 50.4 years old, works with 250 to 500 clients and manages $25 million to $100 million in assets.
As subprime-related losses mount, the word itself has proved to be a winner.
Moody's downgrade of FMR Corp.'s debt rating reflects an unseen mountain of unrated debt the company has accumulated in recent years, according to the rating agency.
A 2008 recession could last longer and be more severe than any since the end of World War II, say economists.
Asset management might be at the heart of what drives an individual toward financial advice, but savvy financial planners are realizing that it takes more than asset management to bring lasting value to the advisory relationship.
Willis Group Holdings, the London-based insurance broker, is talking takeover with Marsh & McLennan, CNBC reported.
