One day last month, while the Dow Jones Industrial Average was sinking over subprime-mortgage concerns, financial adviser Frank McGovern was relaxed, and the phones of his McLean, Va., office were quiet.
China’s involvement with Africa has skyrocketed in recent years, and it is forcing U.S. investors to re-examine their views on the continent as an investment destination.
Two insurers, hoping to attract baby boomers heading into retirement, have introduced variable annuity products that guarantee a hefty 7% return on the holder’s investment in each of the first 10 years of the contract.
Jerry Castellini is quick to acknowledge that his investment firm’s specialty, large-cap-growth stocks, has been “the single worst-performing asset class” since he co-founded CastleArk Management LLC in 1999.
As floor traders clad in jackets and ties vanish from the New York Stock Exchange, they are being replaced by people like Sam Johnson, a technology whiz kid who goes about his business wearing jeans and cowboy boots.
An industry-friendly 401(k) fee bill could be drafted soon in the House Ways and Means Committee to avoid some of the more-onerous provisions of an earlier bill.
Diane Mix Birnberg, president of Chicago-based Horizon Cash Management LLC, didn’t plan it this way.
The college savings plan industry once again has unveiled a wide array of marketing campaigns for the back-to-school season, with many plans emphasizing the benefits of 529 plans in light of upcoming changes in the “kiddie tax.”
Despite widespread incredulity from the public about the weird details of hotel empress Leona Helmsley’s will, some advisers know that bizarre bequests are not uncommon, having watched their own clients seek to rule their families from beyond the grave.
The subprime-mortgage crisis, pushed along by the high-profile collapse of two Bear Stearns Cos. Inc. hedge funds this summer, is turning out to be a boon for money managers looking to pick up bargains.
