All but 7% of the nation's 20,000 wealth management firms won't extract significant value from their business when their owners retire, because most do not have a sustainable profit model, a new report contends.
Several state insurance regulators are considering changes that could make sales of variable annuities more burdensome for financial advisers and agents, and may even discourage the use of such investments in certain situations.
Total money market mutual fund assets rose by $740 million to $2.841 trillion for the week, the Investment Company Institute said Thursday.
Financial advisers find themselves dispensing calming words and holding hands with uneasy investors as the stock market extends its biggest decline in more than a year.
Research Affiliates' Rob Arnott, who addressed several hundred advisers at the Retirement Income Summit in Chicago earlier this month, tells Morningstar's Christine Benz that investors need to ratchet down their return expectations — and, when they become cheaper, increase exposure to inflation-protected assets.
Big trouble for Tiny Gallon? The Oklahoma athletic department is said to be looking into allegations that the Sooners' star basketball player received money from a financial adviser
Michigan coach Rich Rodriguez has been sued along with several business partners by a company that says it has yet to be repaid for a $1 million loan.
JPMorgan Chase & Co. wants to squeeze more business from its mass-affluent customers, and it's asking Barry Sommers, the former head of its brokerage unit, to lead the effort.
Global millionaires' ranks increased by about 17 percent in 2009, with the Asia-Pacific region posting a 26 percent gain, according to a report by Capgemini SA and Merrill Lynch & Co.
Microsoft Corp. co-founder Bill Gates and billionaire investor Warren Buffett are launching a campaign to get other American billionaires to give at least half their wealth to charity.
The global millionaires' club expanded by about 14 percent in 2009, according to the Boston Consulting Group, with the number of millionaire households increasing to 11.2 million. The majority of these wealthy households reside in these five countries.
Stocks are surging after positive reports on the U.S. jobs market and Chinese exports provided some relief to two issues that have had investors on edge for more than a month. And BP is bouncing back after hitting its lowest levels in more than a decade.
Goldman Sachs Group Inc. fell to the lowest in more than a year in New York trading after reports that the Securities and Exchange Commission is probing the firm's $2 billion Hudson Mezzanine collateralized debt obligation.
The global millionaires' club expanded by about 14 percent in 2009 with Singapore leading the way, The Boston Consulting Group said.
The portfolios of the wealthy have almost recovered from the financial crisis, but that doesn't mean they trust their financial institutions anymore, BCG said today in a report.
Mark Singer, a former Smith Barney broker who's been accused of criminal fraud in connection with the handling of cemetery trust funds in the Midwest, is suing his former employer for $7 million in unpaid compensation, plus legal costs.
Citi Private Bank announced today that it's hired yet another executive from U.S. Trust, the wealth management arm of Bank of America Corp.
The old investment adage “selling in May and going away” still makes a lot of sense, according to an analysis of market history.
