February 9, 2012

Garden State facing withering backlog of foreclosures

New Jersey must work through a backlog of 50,000 to 100,000 unprocessed foreclosures because of delays caused by an investigation into how lenders handled the filings, said Richard Constable, acting commissioner of the state Community Affairs Department.Foreclosures slowed to about 10,000...

February 8, 2012

California Dems eye college fees that are up 145% since 2004

Look to end tax loophole for businesses, use proceeds to provide more financial aid to students

• 529 plans

February 8, 2012

Wealth management a bright spot for UBS in 2011

By Andrew Osterland

The Wealth Management Americas division of UBS AG had a tough fourth quarter.The Swiss bank reported this morning that revenues in the division were off 5% from the third quarter, with earnings down 24% to $125 million.Then again, the wealth management unit's performance was not nearly as...

• UBS AG,
• UBS Wealth Management

February 7, 2012

Student loans the 'next debt bomb' for U.S., attorneys warn

By Liz Skinner

Courts reluctant to discharge loans, often forcing graduates to pay off enormous sums; parents increasingly on the hook, too

• 529 plans

February 7, 2012

Baucus' targeting of stretch IRAs a reach, say critics

Claim plan to rejigger taxes on inherited accounts could hurt savers with older spouses; 'a nonstarter'

• Individual retirement accounts (IRAs)

February 7, 2012

Goldman snaps up fixed-income shop

By Robert Steyer

Goldman Sachs Asset Management said Tuesday it will acquire Dwight Asset Management, a stable value money manager, from Old Mutual Asset Management, according to a GSAM news release.GSAM made the acquisition to increase its defined contribution presence, the news release said. Terms of the...

• defined contribution plans,
• Goldman Sachs & Co.

February 7, 2012

Big threat for big wealth managers? Their local bank

By Lavonne Kuykendall

Community and regional banks nabbing clients from wirehouses and larger financial institutions; 'easy to buy assets'

February 5, 2012

Matson: Advisers often play along with bad strategy to keep clients happy

By Lavonne Kuykendall

Spooked investors may be unwilling to invest in the stock market, but many financial advisers aren't trying to change their clients' thinking on the subject. Indeed, some advisers are happy to play along, keeping clients in cash or chasing trends such as gold, one adviser...

• ING Group

February 3, 2012

Treasury's lifetime-income proposals lean heavy on education

By Darla Mercado

Observers find proposals to be well intended, but say workers have a lot to learn on annuities

• 401(k)

February 3, 2012

Clients with Alzheimer's pose 'scary' legal risks

By Andrew Osterland

Advisers unable to meet fiduciary obligation to clients with reduced capacity; 'document, document, document'