Should clients use immediate annuities in retirement?
Take a look at a simple example and see under what circumstances an immediate annuity might be appealing.
Merrill brokerage force down from a year ago — but assets have risen
The number of new $250,000-plus accounts jumped in the first quarter of the year
Peter Schiff: ‘Good reason to believe’ home prices will collapse
Broker -- and candidate for the U.S. Senate -- says the latest government plan will further distort the underlying economics of the real estate market
Will accounting ‘gimmicks’ come back to bite Lehman’s Fuld?
A bankruptcy court examiner detailed how Lehman Brothers moved toxic assets off its balance sheet -- then repurchased them. The revelation is putting plenty of heat on the firm's former boss.
Georgis returns to the fold, rejoins Schwab
Just weeks after the departure of Barnaby Grist, Nicholas Georgis unexpectedly rejoins Charles Schwab.
Morgan Stanley Smith Barney to cut branches in the U.S. — but grow overseas
Morgan Stanley will continue to cut branches in the United States as it integrates its overlapping outposts with Smith Barney, but hopes to expand in the rapidly growing overseas market.
Wells Fargo earnings down in 1Q — but advisory biz sees big jump in profit
Wells Fargo may have seen a modest dip in income in the first quarter of the year, but its advisory biz saw a big jump in productivity -- and profit
Charles Schwab profit takes a tumble in 1Q
First-quarter earnings were down 45% at the discount brokerage. One positive sign: the number of net new accounts rose
BNY Mellon snags BHF unit
In its second big purchase in a month, the firm dramatically boosts its profile in Europe.
Four NYC reps sue LPL for discrimination
Firm sued by four reps for ethnic slurs allegedly made by a sales manager
Fidelity to level fees for DC plan advisers
Under pressure from financial advisers who want to act as fiduciaries in 401(k) plans, Fidelity Investments plans to institute level 12(b)-1 mutual fund fees paid to advisers who sell the firm's plans.
Ranks of U.S. millionaires swelled in ’09
Post-recession, the numbers of millionaires climbed to nearly 8 million. That still trails the all-time high of 9.2 million reached in 2007
SEC charges Goldman Sachs with fraud
The commission claims Goldman failed to disclose that a client helped create — and then bet against — securities the firm sold to investors
Wall Street women still knocking on men’s rooms
Bloomberg's Susan Antilla offers her opinion on just how much (or little) progress women have made in the financial services industry over the last two decades
Merrill Lynch auction rate securities suit dismissed
Merrill Lynch won dismissal of an investors' class-action lawsuit over auction-rate securities, at least the seventh such victory since the market collapsed in February 2008.
Paging Judge Judy: JPMorgan, FDIC in WaMu tax flap
The Wall Street giant wants a $1.4B tax refund from the bank it rescued. The regulator says TARP recipients aren't entitled to such refunds
Former S&P exec: Revenue pressure skewed ratings
Tells Congressional panel that the push to land bank fees -- along with lax government oversight and breakdown in communications -- resulted in abuses
Morgan Stanley took huge hit on real estate fund, report says
Morgan Stanley Real Estate Fund VI International said to be down 61% -- not suprising, given the fund was raised at the peak of the property boom
Jeremy Shockey says ex-teammate ain’t no saint, sues over alleged tax credit fraud
Kevin Houser played with the New Orleans Saints from 2000 to 2008. Now, his former teammate Jeremy Shockey — and others — claim the Securities America-affiliated rep ripped them off in an alleged tax scam.
Suze Orman and Robert Kiyosaki in advice smackdown
Television's Suze Orman has engaged in a war of Tweets with 'Rich Dad, Poor Dad' author Robert Kiyosaki
