Industry News

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NEWS INDUSTRY NEWS NOV 21, 2007
Conference Board sees slowing economy

Seven of the 10 indicators were in negative territory, led by building permits and initial claims for unemployment insurance.

NEWS INDUSTRY NEWS NOV 20, 2007
Housing starts up but permits plummet

Construction of new homes rebounded in October, increasing for the first time since June.

NEWS INDUSTRY NEWS NOV 20, 2007
Eaton Vance profits soar 59%

The Boston-based money manager reported earnings of $61.4 million, or 47 cents per share.

NEWS LIFE INSURANCE AND ANNUITIES NOV 20, 2007
Woods to retire from LIFE Foundation

Mr. Wood's retirement ends a 13-year career at the Life and Health Insurance Foundation for Education.

NEWS LIFE INSURANCE AND ANNUITIES NOV 20, 2007
Gary Wendlandt named NYLI vice chairman

He joins chief executive Sy Sternberg and Ted Mathas, chief operating officer on the board.

NEWS INDUSTRY NEWS NOV 20, 2007
Sinking dollar sends oil sky high

The dollar slid to a new low against the euro today, sending the price for a barrel of crude oil to a new record high.

NEWS BROKER DEALERS NOV 19, 2007
How to prepare for NASD arbitration

One of the most useful ways for the registered representative to envision the [arbitration] process is to realize that it is a marathon and not a sprint.

NEWS WIREHOUSES NOV 19, 2007
Indies seeking an edge in fight for breakaway reps

Registered investment adviser and independent-contractor-broker-dealer firms looking to attract high-producing wirehouse brokers are increasingly seeking to differentiate themselves in a crowded and competitive marketplace.

NEWS LIFE INSURANCE AND ANNUITIES NOV 19, 2007
Birthday gift annuities relieve worries

Children don't always grow up to be the responsible types we hope for. My client Anne is divorced, with a traditional individual retirement account valued at $1 million.

NEWS LIFE INSURANCE AND ANNUITIES NOV 19, 2007
Swiss Re takes $878M subprime hit

The October loss stems from a pair of credit default swaps written by the firm’s Credit Solutions unit.

NEWS INDUSTRY NEWS NOV 19, 2007
LPL buying spree yields robust results

The firm reported income of $53.3 million over the first nine months of the year, compared to $20.4 million a year ago.

NEWS LIFE INSURANCE AND ANNUITIES NOV 19, 2007
NAILBA announces board picks

Doug Mishkin, president and chief executive officer of Algren Associates, will head up the executive board as chairman.

NEWS INDUSTRY NEWS NOV 19, 2007
Builders' confidence at 22-year low

Home builders’ confidence stayed at basement levels in November, due to an increased inventory of unsold homes.

NEWS INDUSTRY NEWS NOV 16, 2007
U.S. capital flows fall in September

Monthly capital flows to the U.S. fell by $14.7 billion in September, marking the second consecutive monthly decline.

NEWS LIFE INSURANCE AND ANNUITIES NOV 16, 2007
Labor Life Insurance fined $20 million

Union Labor Life Insurance Co. today settled with the Department of Labor, paying $20 million over alleged violations of federal employee benefits law.

NEWS INDUSTRY NEWS NOV 15, 2007
LSE's profits reach $79M for half year

the U.K. exchange reported operating profit up 41% to $78.6 million, and earnings per share up 48% to $0.73.

NEWS LIFE INSURANCE AND ANNUITIES NOV 15, 2007
National Financial grows annuity platform

National Financial Services has added seven insurance carriers to the company’s annuity program for B-Ds

NEWS INDUSTRY NEWS NOV 15, 2007
Consumer price index rises 0.3%

The CPI has increased 3.6% over the first 10 months of the year, compared to a 2.5% gain in all of 2006.

NEWS LIFE INSURANCE AND ANNUITIES NOV 15, 2007
The Hartford names group reinsurance VP

Mr. DiDonna will lead about 150 people specializing in reinsurance, product development, actuarial services and underwriting.

NEWS INDUSTRY NEWS NOV 14, 2007
Economy cooling after strong third quarter

Retail sales increased just 0.2% in October, following an increase of 0.7% in September.