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Estate sale of the century
March 16, 2010
Turns out the King of Pop was also the King of Debt. Michael Jackson left his heirs an estimated $400M bill. What to do if you're Jackson's estate attorneys? Sign a recording deal, of course.
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Investments
SEC's Aguilar says target date recommendations coming soon
The Securities and Exchange commissioner says "vague and confusing" language describing target date funds led to investor confusion when investments performed poorly during the market downturn.
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Your Practice
A delicate situation: Acquiring practices of the deceased
Is it appropriate to try to acquire the clients of a fellow financial adviser who died without a successor?
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RIAs
Neuberger Berman taps J.P. Morgan Clearing as new custodian
Move expected to occur during the second quarter, and will affect approximately 50,000 client accounts.
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Regulation
Wall Street bigs asked to sign off on fiduciary duty
The Committee for the Fiduciary Standard takes a different tack in its bid to eliminate the broker-dealer exclusion
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Broker-Dealers
Ex-bank president first to be charged with bailout fraud
The former president of a small community bank has become the first person ever charged with trying to defraud the bailout program.
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Wealth & Retirement
UBS tax evasion probe expands to three new countries
UBS AG of Switzerland said Monday that authorities in Britain, Canada and Australia are investigating the bank's offshore business in the wake of revelations that it helped U.S. customers evade their taxes for years.
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Insurance
Insurance regulators to probe annuities sold to third parties
Insurance regulators state legislators plan to tackle the thorny issue of insurable interest with regard to annuity sales, preparing the groundwork for changes that could discourage stranger-originated-annuity transactions.
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Portfolio Manager Perspectives
Leader Capital's John Lekas: Environment ideal for floating-rate bonds
To deal with a rising-rate environment, the fund manager has built a 44% position in bonds that have yields that adjust in relation to the London Interbank Offered Rate.
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Shop talk
Advisers' biggest mistakes: Too much delegating
In 2006, the adviser learned the folly of being too far removed from the day-to-day management of his business.
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Print Edition
- TD Ameritrade ups RIA focus
- Kohl's oversight proposal is panned
- A delicate situation: Acquiring practices of the deceased
- High anxiety for clients amid tax time
- Putnam CEO Bob Reynolds off to a strong start, but challenges remain
- Too close for comfort: Dallas planner describes day a client shot two reps
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