NEW YORK — Citigroup Inc. and Blackstone Group Holdings LP have launched a $5 billion fund to invest in India’s infrastructure — a positive development for a country that lags behind China in attracting foreign investment, one observer says.
WASHINGTON — Department of Labor guidance allowing money managers to offer investment advice directly to 401(k) plan participants could squeeze the bottom lines of leading independent-advice providers Financial Engines Inc. and Morningstar Associates LLC, but it’s a big win for mutual fund companies.
NEW YORK — The Hartford (Conn.) Financial Services Group Inc. wants more financial advisers to sell retirement plans.
NEW YORK — Asset management firms that employ wholesalers are not reaching their full sales potential and can do a lot more to form stronger relationships with financial advisers, according to a report released earlier this month by kasina LLC.
The Charles Schwab Corp.’s decision last week to position Walter W. Bettinger II as the likely successor to its founder and chief executive caught some financial advisers by surprise.
Two of the biggest names — and personalities — until recently associated with Royal Alliance Associates Inc. now are attempting to build national firms.
Financial intermediaries could be left holding the bag in the unraveling of what is being characterized as possibly the longest-running Ponzi scheme in U.S. history.
OTTAWA — The Mounties say they have gotten their man in the insider scandal involving income trusts, but some observers doubt that he is the only person involved.
When banks and brokers first started offering health savings accounts, clients could choose any investment they wanted for their account funds — as long as it was a certificate of deposit.
Although many brokerage firms are letting investors in on whether they have “shelf space” agreements with certain mutual fund companies, few are disclosing the details of those agreements.
After spending the past three years cozying up to securities regulators at NASD, independent-contractor broker-dealers are fearful that state regulators pose an increasing threat.
With the specter of millionare clients’ assets slipping through its fingers in a hot rollover market, Fidelity Investments is placing its high-net-worth strategy squarely on the shoulders of registered investment advisers.
Like their clients, advisers and registered representatives are getting older and often worry about their futures.
A short but significant provision in President Bush’s proposed fiscal 2008 federal budget has cemented his status as the college savings plan industry’s new best friend.
Bank-loan funds are the beneficiary of a bond market that has made investors leery of most fixed-income investments — particularly junk bonds. Compared with junk-bond funds — to which some consider bank-loan funds an attractive alternative — asset flows into bank-loan funds have remained strong.
NEW YORK — A securities law firm is seeking class action status for clients who may have been financially damaged by an insurer’s threats and commission incentives designed to skew adviser judgment in favor of proprietary products.
SAN FRANCISCO — A top bond expert made only passing mention of bonds at TD Ameritrade Holding Corp.’s 2007 annual conference in San Diego early this month.
NEW YORK — John Hancock Life Insurance Co. of Boston this month introduced a policy that guarantees cash values to a greater extent than other types of whole life insurance.
Bank of America Corp. chief executive Kenneth D. Lewis saw his stock options drop 8% to $10.8 million last year, compared with $11.7 million in 2005, according to Financial News.
A trade group for the variable annuity industry today announced a technology initiative intended to save time and money for VA distributors through streamlining and standardization.
