Despite the market's current volatility, the love affair between ultrawealthy investors and hedge funds is still torrid, according to a new survey by the Institute for Private Investors, a New York-based association for very wealthy families and their advisers.
Building wealth beyond dollars for clients is more challenging and gratifying than peppering their holdings with the latest hot stock pick or designing a soundly diversified portfolio.
Certified public accountants who serve small businesses are poised to offer 401(k) plans to their clients, said Chandra Bhansali, president of AccountantsWorld LLC, an online company that provides payroll assistance to 110,000 accountants.
More children could be trapped by the dreaded "kiddie tax" this year.
The economy added 94,000 jobs in November, according to a Department of Labor report.
Hedge fund returns fell November, reflecting declines in the major stock markets, the credit crunch and concerns about business slowdowns.
Two organizations want insurers to have the option of being regulated federally or by the states.
Hedge fund assets have increased by 11% in the past six months, according to HFM.
Billionaire Joseph Lewis has raised his stake in Bear Stearns to 8.01%, according to a filing with the SEC.
Consumer sentiment stabilized in November after a steep decline in October, according to the RBC CASH Index.
