Wilmington Trust Corp. reported a wider-than-expected second-quarter loss of $116 million, or $1.33 a share, thanks largely to souring construction loans that continue to plague the regional bank.
New York Life Insurance Co. was the top seller of fixed annuities during the second quarter, with $1.74 billion, according to Beacon Research Publication Inc.
My colleagues in the business press lavish an extraordinary amount of space on the world's richest people,which is altogether fitting and proper, considering how much they can teach us about the important matters of life.
Citi Private Bank, the private-banking unit of Citigroup Inc., continues its aggressive recruiting from U.S. Trust and has now lured a total of 10 bankers from the Bank of America unit since the end of April.
U.S. Trust Corp., the private banking unit of Bank of America Corp., has hired five senior-level wealth management experts as part of the firm's bid to hire more than 200 advisers and bankers this year.
Groups argue the Harkin amendment would undermine the goal of strengthening the standard of care for investors.
The second quarter opened up with high hopes and generally positive expectations for the remainder of the year.
There is plenty of uncertainty surrounding the estate tax. The only sure thing is that Congress will punt the issue to next month — or perhaps beyond the fall elections. Nevertheless, a rough picture of what will happen is starting to emerge.
For years, wealthy retirees from high-tax states in the Northeast and Midwest have been streaming to sunny, low-tax Florida. That stream is now turning into a flood.
Annuity sales skyrocketed during the second quarter at Prudential Financial Inc., thanks to a push to expand distribution relationships in the bank and wirehouse channels.
Berkshire Hathaway Inc., the company run by billionaire Warren Buffett, may have to set aside $8 billion in collateral for derivatives under proposed changes to U.S. financial regulations, a Barclays Capital analyst said.
MetLife stays at the top, with Prudential and TIAA-CREF right behind
The oracle's yearly note to Berkshire-Hathaway shareholders was once a big event in investor circles. Now, it's lost its luster. Blame familiarity.
Defined-contribution plans are adding self-directed brokerage accounts as a way of giving participants more choices even as some plans reduce the number of core investment options.
The oldest baby boomers, many of whom are expecting to retire soon, will likely not have enough money to carry them through their twilight years.
A Kirkland financial planner who looted her clients' investment accounts was sentenced to six years and eight months in prison by a federal judge who praised her for cooperating after she got caught.
Fear of market gyrations taking hold among affluent young investors; is the 'conservatism' embedded?
Axa also failed to use product comparisons that lower the surrender and death benefit value by the investment fund charges when considering hypothetical rates of return.
