Even the normally upbeat Section 529 college savings plan industry is in the dumps as it grapples with the financial crisis, according to a survey released this morning by the College Savings Foundation at its annual conference in Miami Beach, Fla.
Registered investment advisers who custody client assets with Charles Schwab have made a strong push into cash, the company’s chief executive, Walt Bettinger, said in a conference call with analysts today.
Despite the financial crisis and plummeting markets, employees are still contributing to their 401(k) plans, an analysis from Boston-based Fidelity Investments released today showed.
Florida hedge fund manager Arthur Nadel has come out of hiding and turned himself in yesterday to the Federal Bureau of Investigations in Tampa, Fla.
Tremont Group Holdings Inc. of New York is closing its hedge fund division following $3.1 billion in losses associated with the Bernie Madoff scandal, according to the firm.
Waddell & Reed Financial reported a fourth-quarter loss of $730 million, or 1 cent per share, compared with a profit of $35.1 million, or 42 cents per share, a year earlier, due to a severe decline in assets under management.
President Obama is formulating and finalizing his tax proposals as part of an overall economic recovery stimulus package and your clients have been asking how the new plan will affect them.
The genesis of the index is the Temporary Liquidity Guaranty Program created by the Federal Deposit Insurance Corp., which allows bank holding companies to issue senior unsecured debt guaranteed by the U.S. government.
Securities and Exchange Commission chairwoman Mary Schapiro should end her predecessor’s policy on negotiating settlements with corporations under investigation because it weakens enforcement efforts, an influential U.S. senator said.
Those with an average income of nearly $200,000 spent 6.4% less on luxury goods such as fashion accessories, electronics and upscale home furnishings in the fourth quarter of 2008 than they did in the third quarter, according to a study.
