Poor planning leaves his heirs with unnecessary legal fees and an onerous tax bill The way his terrible estate plan is unraveling, if the late James Brown, the “Godfather of Soul,” could see from wherever he is, he wouldn’t be screaming his most-famous three words: “I feel good.”
Sixteen years ago, Jessica Abrams’ life revolved around her pony. To buy the horseshoes and other accessories she needed for shows, the then 14-year-old baby-sat several days a week and carefully saved.
Pension funds would be adversely affected if taxes on private-equity were raised, said witnesses.
The biggest B-D is buying Independent Financial Marketing Group from Sun Life Financial.
In a marketing and business coup, Pershing has hired Mark Tibergien, a leading consultant in the industry.
Fidelity debuted a Web-based tool designed to help advisers create and manage retirement income plans for their clients.
Senate hearings on taxing-carried interest begin tomorrow, but reports predicting its impact are out now.
The firm has added services for shareholders that invest in its $100,000 no-load, low cost mutual funds.
Nationwide Financial Services Inc. has kicked off enhancements to its Lifetime Income Rider.
NEW YORK — NEXT Financial Group Inc., which is in the middle of a scrap with the Securities and Exchange Commission over its use of confidential client information when recruiting representatives, is getting strong support in some corners of the independent-contractor brokerage industry.
NEW YORK — Recent market volatility is unlikely to curb investors’ appetite for collateralized debt obligations and other complex securitized-debt products despite the risks, wealth management executives said.
SAN FRANCISCO — After years of being heralded as the next big thing in banking, reverse mortgages have come into their own, morphing from a mom-and-pop industry to big business in just the last six months.
DETROIT — Financial advisory firms that concentrate on holistic planning and leave the investment management to outside professionals are seeing the benefits in real dollar terms, according to a recent study.
NEW YORK — Another independent broker-dealer has shut its doors, months after one of its brokers got in trouble with regulators.
IRVINE, Calif. — Wachovia Securities LLC’s whirlwind tour of brokers at A.G. Edwards & Sons Inc. has helped calm anxieties about the merger of the two firms, but it hasn’t kept some representatives from abandoning ship. A 40-city tour by six Wachovia executives, including Wachovia chief executive Danny Ludeman and his counterpart at A.G. Edwards, Bob Bagby, is scheduled to conclude this week.
CHICAGO — Pension consultants and third-party administrators want bundled providers, including industry giants such as Vanguard and Fidelity, to disclose their revenue-sharing arrangements with affiliated service providers, but the bundled providers are balking.
Leasing often represents the alternative to making an investment in a non-financial asset. In many cases when the asset is essential, such as with a car or home, we can perform a buy-versus-lease analysis to determine which approach to take. Here I examine leasing’s strengths and weaknesses, and evaluate its uses for the car or home.
IRVINE, Calif. — Credit market turmoil has soured the outlook for the securities industry through next year. The fallout from the subprime-mortgage mess continues to roil much of Wall Street’s product origination and trading side.
PHILADELPHIA — Even though he was aware that it would violate their contracts, Gary Black, chief executive of Janus Capital Group Inc., told the company’s portfolio managers last October that they would receive pay cuts, according to a lawsuit filed last month.
CHICAGO — Financial advisers play a big role in directing individual retirement account rollovers. Fully 67% of individuals who completed a rollover during the two-year period through April did so with the help of a professional adviser, according to a study released Aug. 23 by Spectrem Group in Chicago.
