Legg Mason Inc. said Thursday it will record a $610 million charge to reflect elimination of exposure to risky structured investment vehicles in its money market accounts.
Confidence in the White House rose this year but dropped for Wall Street and corporations, according to an annual poll conducted by Harris Interactive Inc.
Advisers soon may be able to pursue a new designation that would formally qualify them as experts in managing investment portfolios during their clients' retirement years.
Insurer Old Mutual PLC reported Wednesday a 30 percent drop in 2008 profits as its U.S. Life unit made a large loss, hurt by the collapse of financial institutions such as Lehman Brothers and Freddie Mac and Fannie Mae.
The financial services industry spent more than $5 billion on political contributions and lobbying from 1998 through 2008, according to a study released today.
Though advisers’ outlook of the economy over the next six months may be bleak, there is indeed a silver lining, according to a survey from The Charles Schwab Corp. of San Francisco.
With large pharmaceutical companies sitting on extra cash and billions, a flurry of mergers in the biotechnology sector is likely this year, analysts say.
Even the rich are gloomy about the economy, according to Chicago-based Spectrem Group’s Millionaire Investor Index, which fell 13 points in February.
Thinkorswim Group Inc., an online brokerage and investor education service provider which is being acquired by TD Ameritrade, said Wednesday its fourth-quarter profit fell 46 percent due to a decline in interest and education revenue and special charges.
A proposal in President Obama’s budget to lower the tax deduction amounts for wealthy donors has charities concerned that it may reduce giving.
The U.S. lost an estimated 778,000 jobs in February, marking the biggest one-month loss of the recession so far.
Raymond James Financial announced that Paul Reilly, executive chairman of Korn/Ferry International, will join the company as president May 1, and after one year will succeed Thomas James as chief executive.
While the historic plunge of the Dow Jones Industrial Average yesterday may not be a sign that the markets have reached the bottom, most economists agree that it signals a prolonged recession.
A consortium of RIAs is “actively looking elsewhere” for custodial partners after Charles Schwab said it would stop accepting custody of alternative investments.
The government on Monday unveiled a revamped rescue package to insurance giant American International Group and will provide the troubled company another $30 billion on an "as needed" basis.
