More insurers are offering riders that include long-term-care coverage in life insurance policies.
Merrill Lynch, Morgan Stanley, Smith Barney and Charles Schwab are being sued for allegedly illegally forcing clients into lower paying deposit accounts, enabling the firms to reap “billions” in extra profits.
Wachovia Corp.’s planned $6.8 billion purchase of A.G. Edwards Inc. could make an already competitive sales game even tougher for U.S. mutual fund firms, some analysts said.
The SEC plans to decide by the end of the year whether to reform 12(b)-1 fees or eliminate them altogether, and proponents of both alternatives are poised to try swaying its decision.
The IRS has put a damper on a tax saving strategy that has been used by some investors with fee-based accounts.
IRVINE, Calif. — Smith Barney reps are wondering when they’ll get their payments from the wage-and-hour lawsuit the firm agreed to settle in May 2006 for $98 million.
Wal-Mart Stores Inc. is taking another crack at expanding its financial services business by partnering with a discount- brokerage platform that potentially could move the world’s largest retailer closer to the financial advice business.
Rydex Investments has been in discussions with some suitors about being acquired, according to industry sources.
WASHINGTON — The Senate Finance Committee has taken the unusual step of asking for public comment on a legislative proposal for a bill that would require brokers and mutual funds to report the cost bases of their customers’ securities transactions.
NEW YORK — Although most millionaires feel that their wealth is “extremely secure,” many still have not found the kind of financial advice that suits their needs. According to the annual wealth survey by The Phoenix Cos. Inc. of Hartford, Conn., 34% of millionaires young and old lacked a primary financial adviser.
