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.
NEW YORK — In light of new regulations requiring greater disclosure on executive pay, directors are scrambling to justify every nickel spent on perks for the top ranks.
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.
Around this time of year, secondary schools typically hold a “career day,” and mothers and fathers are coaxed from their workplaces to participate in a “show and tell” with the next generation.
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.
With the specter of millionare clients’ assets slipping through its fingers in a hot rollover market, Fidelity Investments is placing its high-net-worth strategy squarely on the shoulders of registered investment advisers.
Like their clients, advisers and registered representatives are getting older and often worry about their futures.
A short but significant provision in President Bush’s proposed fiscal 2008 federal budget has cemented his status as the college savings plan industry’s new best friend.
