The forces that drove the retirement marketplace in 2007 — the automatic enrollment and default option provisions of the Pension Protection Act of 2006, the aging baby boomers and a focus on the rollover market — will continue to shape product launches this year.
In January, 74,986 American workers were laid off, an increase of 69% from December’s total of 44,416.
Raymond James' asset-management unit and its bank could be worth close to $4 billion, according to Barrons.
Strong earnings and sound investment portfolios will keep the life insurance industry stable this year, according to Moody’s Investors Service.
Research shows that women are more vulnerable to poverty in old age than men for several reasons, including their longer life spans, shorter and interrupted working careers, and lower earnings.
If Charles Massimo had it to do all over again, he still would choose to leave Smith Barney and become an independent broker.
Despite a tough stock market and a $3 million bond write-off, Ameriprise Financial Inc. managed to increase its earnings substantially last quarter — thanks in part to sales of proprietary products.
Operational complexity was identified as the second-leading factor holding back the growth of 529 plans.
U.S. employers cut 17,000 jobs in January, according to a report released by the Department of Labor.
Democrat leaders hope to add changes the House’s $146 billion version, but acknowledged they do not have 60 votes necessary to do so.
The factory sector grew in January, marking the 75th straight month of expansion according to the latest ISM report.
Net income for the New York Mercantile Exchange increased 50% to a record $63.5 million in the last quarter.
The American Council of Life Insurers has added James Szostek as the director of pensions in the taxes and retirement security department.
The firm’s parent company, National Financial Partners, will replace Jeff Montgomery from within.
Sales by advisers were rated the most effective method of marketing 529 plans, according to a survey.
The number of U.S. workers filing new claims for unemployment benefits rose in late January to its highest level since October 2005.
A total of 222,184 consumer complaints were reported to the NAIC last year, a 3.6% fall from 2006.
MBIA, the troubled Armonk, N.Y.-based bond insurer, posted a $2.3 billion loss and a write-down of $3.5 billion.
Brian Duperreault replaces Michael Cherkasky, who left the New York-based insurance broker in December.
