NEW YORK — Advisers with clients who need life insurance for tax minimization and wealth transfer may want to consider a new policy geared to that market.
IRVINE, Calif. — In response to complaints from brokers, Smith Barney has tweaked the final version of its new pay plan.
After eight months of negotiations, LPL Financial Services Inc. last Thursday finalized the details of its acquisition of three broker-dealers owned by Pacific Life Insurance Co. of Newport Beach, Calif.
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.
After eight months of negotiations, LPL Financial Services Inc. this morning finalized the details of its acquisition of the majority of the broker-dealers owned by Pacific Life Co. of Newport Beach, Calif.
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.
Add class action litigation to the regulatory controversies, bad press and other woes plaguing insurers that sell equity index annuities.
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.
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.
WASHINGTON — As a result of rising securities trading volumes, the Securities and Exchange Commission is cutting the fees it charges for trades and registration filings by more than 50% for the remainder of the fiscal year that ends Sept. 30.
SAN FRANCISCO — Thomson Financial’s recent acquisition of a Belgian software company is a clear indication of its desire to appeal to higher-end financial advisers, analysts say.
NEW YORK — Citigroup Inc. and Blackstone Group Holdings LP have launched a $5 billion fund to invest in India’s infrastructure — a positive development for a country that lags behind China in attracting foreign investment, one observer says.
WASHINGTON — Department of Labor guidance allowing money managers to offer investment advice directly to 401(k) plan participants could squeeze the bottom lines of leading independent-advice providers Financial Engines Inc. and Morningstar Associates LLC, but it’s a big win for mutual fund companies.
NEW YORK — The Hartford (Conn.) Financial Services Group Inc. wants more financial advisers to sell retirement plans.
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.
The Charles Schwab Corp.’s decision last week to position Walter W. Bettinger II as the likely successor to its founder and chief executive caught some financial advisers by surprise.
Two of the biggest names — and personalities — until recently associated with Royal Alliance Associates Inc. now are attempting to build national firms.
Financial intermediaries could be left holding the bag in the unraveling of what is being characterized as possibly the longest-running Ponzi scheme in U.S. history.
When banks and brokers first started offering health savings accounts, clients could choose any investment they wanted for their account funds — as long as it was a certificate of deposit.
After spending the past three years cozying up to securities regulators at NASD, independent-contractor broker-dealers are fearful that state regulators pose an increasing threat.
