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.
Upon implementation of the Pension Protection Act one year ago, sponsors of 401(k) plans gained the opportunity to limit their liability for advice given to participants under eligible investment advice arrangements.
Reluctant as we are to call for the establishment of another self-regulatory organization, we have concluded it is the best structure for the regulation of the investment advisory industry.
