Bloomberg

Bloomberg
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MUTUAL FUNDS MAY 07, 2007
Is quest for income old-fashioned alchemy or magic elixir?

BOSTON — The Charles Schwab Corp., T. Rowe Price Group Inc. and OppenheimerFunds Inc. are among firms exploring ways to add a guarantee to life cycle funds — providing investors with an income stream in retirement.

INDEPENDENT BROKER DEALERS MAY 07, 2007
INVEST buys PFIC Securities contracts

INVEST Financial Corp. of Tampa, Fla., this morning said it has acquired the contracts of nearly 400 bank-based registered representatives of PFIC Securities Corp. of Franklin, Tenn., a subsidiary of Morgan Keegan & Co. Inc. of Memphis.

LIFE INSURANCE AND ANNUITIES MAY 07, 2007
Equity index annuity insurers are facing more lawsuits

New accusations against equity index annuity sellers may lead to regulatory grief comparable to what property-casualty firms suffered during the contingent- commission scandal a couple of years ago, industry observers say.

REGULATION AND LEGISLATION MAY 07, 2007
Separately managed account quandary

While advisers want their separately managed accounts made available on unified managed account systems, SMA managers fear that that will result in a loss of control over how their products are marketed.

RETIREMENT PLANNING MAY 07, 2007
Financial services companies open purse strings for top execs

Many top executives at large financial services companies saw a big jump in pay last year.

REGULATION AND LEGISLATION MAY 07, 2007
New service agreement at TD Ameritrade causes flap

Amid protest from its advisers that they are being asked to assume too much liability, TD Ameritrade Institutional is going back to the drawing board with its new service agreement.

INDEPENDENT BROKER DEALERS MAY 07, 2007
RJ unit takes internal heat

Thomas James clearly is displeased with the growth at Raymond James Financial Services Inc.

RIA NEWS MAY 07, 2007
Strong Dow introduces challenges

The rapid rise of equity markets over the past few months has introduced a new challenge to some financial advisers: keeping clients focused on long-term objectives.

OPINION MAY 07, 2007
Plan sponsor’s fail-safe: Using RIA as a co-fiduciary

Many Employee Retirement Income Security Act fiduciaries, including plan sponsors, trustees and members of investment committees, are unaware of their significant responsibilities relating to the prudent selection and monitoring of plan asset investments, and the proper operation of their qualified plans.

INDEPENDENT BROKER DEALERS MAY 07, 2007
FSI wants SEC to change its privacy rule

NEW YORK — Looking to de-fuse a potential time bomb for independent-contractor broker-dealers, the Financial Services Institute Inc. wants the Securities and Exchange Commission to change its privacy rule.