Many Americans are paying high fees in their 401(k) plans for insurance they don’t need, and their employers often are unaware, some observers say.
With the deadline for complying with the rule that governs agreements between them just a week away, mutual fund companies and intermediaries are busy ironing out last-minute wrinkles.
Charles R. Schwab last week called the fundamental indexes underlying his company’s three newest mutual funds “a better mousetrap,” but The Vanguard Group Inc. and Barclays Global Investors smell a rat.
Peter Scaturro’s impending departure as chief executive of U.S. Trust has left Bank of America Corp., the venerable wealth manager’s prospective new owner, with a big mess on its hands.
Fee income from variable and fixed annuities, and mutual funds, sold by banks declined by 0.6% last year to $19.33 billion, from $19.46 billion in 2005, according to a recent study.
PHILADELPHIA — The exchange traded fund industry is tripping over itself to come out with new buzz-worthy products.
All eyes are on the Securities and Exchange Commission now that a federal appeals court has overturned its controversial broker-dealer exemption rule.
NEW YORK — Although exchange traded funds are growing at a torrid rate, with a new offering almost daily, one area where ETF growth has been slow is in retirement accounts.
The securities industry is coming to grips with the defeat of the broker-dealer exemption rule.
As reported here last week, a federal appeals court has struck down the Securities and Exchange Commission’s broker-dealer exemption, stating that the commission lacks the authority to grant brokers broad exceptions to rules that apply to investment advisers.
