Industry News

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Meredith Whitney 'not even close' as muni defaults down 60%
NEWS RETIREMENT PLANNING DEC 16, 2011
Meredith Whitney 'not even close' as muni defaults down 60%

So far, star analyst's prediction of disaster for tax-exempt sector way off the mark; other made similar forecasts

By John Goff
Greece monkeys around, will default in March: Fitch
NEWS INDUSTRY NEWS DEC 15, 2011
Greece monkeys around, will default in March: Fitch

Analyst says not enough political will to prevent collapse; 'won't be a surprise'

By John Goff
BRICs hitting the wall, says Goldman
NEWS INDUSTRY NEWS DEC 15, 2011
BRICs hitting the wall, says Goldman

Once the darling of investors, emerging market funds have lost their luster over the past year. Now, Goldman Sachs says the halcyon days for the largest emerging economies -- Brazil, Russia, India and China -- are at an end. | <b>Extra</b><a href="http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&amp;Date=20111215&amp;Category=FREE&amp;ArtNo=121509999&amp;Ref=PH">Top international funds in 2011</a>

By John Goff
NEWS INDUSTRY NEWS DEC 15, 2011
Top international fund managers for 2011? Here's five that rank high

By John Goff
Advisers shuffle off in Buffalo as firm closes
NEWS RIAS DEC 15, 2011
Advisers shuffle off in Buffalo as firm closes

A small broker-dealer in Buffalo is shutting down next year because its five teams of financial advisers want to find a better fit for their individual businesses.

By Bruce Kelly
NEWS INDUSTRY NEWS DEC 15, 2011
Euro hits 11-month low, under 'acute' pressure

The euro fell below $1.30 for the first time since January as Italian borrowing costs increased at a debt auction and Spanish banks' borrowings from the European Central Bank climbed by the most in a year.

By Bloomberg
Economy outperforming economists
NEWS RETIREMENT PLANNING DEC 15, 2011
Economy outperforming economists

Dire predictions off the mark as key indicators continue to surprise; 'missing the underlying strength'

By John Goff
NEWS BROKER DEALERS DEC 15, 2011
Will broker-dealer consolidation continue in 2012?

Facing tremendous economic pressure and regulatory hurdles, small and midsize broker-dealers will continue to close, leaving hundreds and perhaps thousands of registered representatives and investment advisers seeking new homes for their books of business next year, executives and consultants said.

By Bruce Kelly
Jeremy Grantham: 'No market for young men'
NEWS INDUSTRY NEWS DEC 15, 2011
Jeremy Grantham: 'No market for young men'

Jeremy Grantham, the GMO chief investment officer, on what would would happen if markets 'over-correct' like they have after other sizable equity bubbles.

By Bloomberg
NEWS RIAS DEC 15, 2011
Atlanta: Wealth management prospects down, but not out

A bit of Southern hospitality mixed with big-city benefits has helped Atlanta remain an ideal place to build a wealth management business, even though it is still recovering from an economic downturn.

By Liz Skinner
Longtime RJFS CEO to retire
NEWS RIAS DEC 15, 2011
Longtime RJFS CEO to retire

Raymond James Financial Inc. will see a number of upper-management changes in the new year, including the departure of Dick Averitt, longtime chief executive of Raymond James Financial Services Inc.

By Bruce Kelly
Stronger greenback bad news for gold
NEWS INDUSTRY NEWS DEC 15, 2011
Stronger greenback bad news for gold

Price of precious metal hits three week low; allure tarnished?

By John Goff
NEWS INDUSTRY NEWS DEC 15, 2011
Frank Holmes: What's really driving gold?

Frank Holmes, chief executive officer and chief investment officer of U.S. Global Investors, stopped by the <i>InvestmentNews</i> office to talk about the direction of gold throughout the remainder of 2011, and beyond.

By Mark Bruno
MSSB's tech 'teething pains' a big headache for brokers
NEWS PRACTICE MANAGEMENT DEC 15, 2011
MSSB's tech 'teething pains' a big headache for brokers

Sources say that the rollout of a single technology system at Morgan Stanley and its brokerage unit has been anything but seamless, with intermittent outages and other assorted glitches and snafus.

By Andrew Osterland
Parents hazed as cost of state schools soars
NEWS RETIREMENT PLANNING DEC 15, 2011
Parents hazed as cost of state schools soars

Tuition and fees skyrocket as cash-strapped legislatures look to fill budget gaps

By John Goff
California to close adviser-sold 529 plan after failing to find program manager
NEWS RETIREMENT PLANNING DEC 15, 2011
California to close adviser-sold 529 plan after failing to find program manager

California is closing its adviser-sold Section 529 college savings plan and folding its $283 million in assets into the state's much larger direct-sold plan, after failing to find a company to manage the adviser-sold plan.

By Liz Skinner
NEWS INDUSTRY NEWS DEC 14, 2011
The real threat?

A nation's GDP to debt ratio usually becomes worrisome near 90%. Japan's is now over 200%. Forget Europe, writes Barry Glassman, Japan is the global economy's real elephant in the room. | Related graphic: <a href=http://www.investmentnews.com/apps/pbcs.dll/misc?url=/misc/zoom.pbs&amp;Site=CI&amp;Date=20111213&amp;Category=FREE&amp;ArtNo=111219978&amp;Ref=V2&amp;credit=Glassman%20Wealth%20Management>Japan vs. the Euro land.</a>

By Mark Bruno
NEWS LIFE INSURANCE AND ANNUITIES DEC 14, 2011
Hartford sells private-placement ops

By Darla Mercado
NEWS RIAS DEC 14, 2011
VA charge hits ING hard

A hefty charge that ING Groep NV will take on its American variable annuity business appears to be a mixed blessing for investors hoping to snap up shares of the company's insurance unit once it makes its public debut.

By Darla Mercado
Gold gains most in three weeks as weaker dollar may spur demand
NEWS INDUSTRY NEWS DEC 14, 2011
Gold gains most in three weeks as weaker dollar may spur demand

Gold climbed the most in three weeks in London as a weaker dollar may accelerate demand for the metal as an alternative asset.

By Doug Cubberley