A former Secret Service agent is expected to be named chairman of the organization overseeing the federal-economic-stimulus-plan spending.
While all 401(k) investors have sustained significant losses in the last year, no one has suffered more than the wealthiest 401(k) participants.
The country stands to lose a sizable chunk of economic activity in 2009 as consumers at home and abroad retrench in the face of persistent economic troubles.
The SPDR Gold Trust (GLD) exchange traded fund has surpassed $30 billion in assets, making it the second-largest ETF by assets in the world.
Investors' concerns about negative market returns are likely to create a greater demand for guaranteed products such as variable annuities, but the downturn in the markets has changed the insurers' cost of managing the hedging risk of VAs.
Much as the Great Depression spawned an entire generation of skeptical and conservative investors, the current financial crisis could have a similar effect on the financial tendencies of today's "Millennial" generation.
Advisers may complain about variable annuities, but most still endorse the product.
The irony is powerful: Just as client demand for quality advice is reaching an all-time high, the business models that support the selling of advice have never looked worse.
As the broad market continues its free fall, independent broker-dealer Woodbury (Minn.) Financial Services Inc. is grappling with changes in senior management and the lingering problems of its owner, The Hartford (Conn.) Financial Services Group Inc.
In a nod to today's touchy political environment regarding executive compensation, financial advisers at the firm born out of a joint venture between Morgan Stanley and Smith Barney will not receive retention bonuses.
