As more products that aim to deliver regular payouts in retirement hit the market, many advisers are taking a wait-and-see approach before recommending them to their clients.
Although Fidelity Investments and Janus Capital Group Inc. recently designated multiple managers for specific portfolios, neither firm is abandoning their individual-portfolio-manager system.
It used to be that when Bill Miller, the vaunted value manager at Legg Mason Inc. of Baltimore, gave his view of the market, it would be hard to find folks who would disagree with him.
Because Congress was slow to take up legislation to protect taxpayers with moderate income from having to pay the alternative minimum tax, it is likely that the Internal Revenue Service will have to delay processing 50 million taxpayers, the acting chief of the agency told the nation's accountant association last week.
The subprime-mortgage meltdown, which has triggered a larger meltdown throughout the credit markets, is the latest example of grand-scale faulty logic and short-term thinking.
Many mutual fund trustees would like to repeal the Securities and Exchange Commission's 12(b)-1 regulation that allows mutual funds to use fund assets to pay for marketing, a Washington lawyer who represents mutual funds reports.
Morgan Stanley CEO John J. Mack has identified Zoe Cruz, a co-president, as the leading candidate to succeed him.
J. Andrew Kalbaugh is the new chief executive of Mutual Service Corp. of West Palm Beach, Fla.
Consumer confidence fell this month to the lowest level in more than two years, according to the RBC Cash Index.
An increase in exports helped push the U.S. trade deficit for September down to $56.5 billion.
