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.
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.
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.
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.
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.
Wealth managers in the Phoenix area say that the financial crisis and its calamitous impact on the stock market is forcing them to rethink their investment strategies.
Mutual fund executives probably won't be dancing in the street over reports of modest inflows into stock mutual funds in January.
