Industry News

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Finra small-firm campaign getting ugly
NEWS INDUSTRY NEWS SEP 09, 2011
Finra small-firm campaign getting ugly

'Name calling,' 'conspiracy theories' spice up election for seat on board

By Dan Jamieson
NEWS RIAS SEP 09, 2011
Advisers: Staff up, then make your bid for new business

If you've set on a path to expand your business, you might be racking your brain trying to think of ways to attract new clients.

By Mark Schoeff Jr.
NEWS LIFE INSURANCE AND ANNUITIES SEP 09, 2011
Variable annuity market preps for features arms race

Smaller variable annuity writers are expected to give the big boys a run for their money in the battle for market share

By Darla Mercado
No floor yet for plunging housing market
NEWS RETIREMENT PLANNING SEP 08, 2011
No floor yet for plunging housing market

A report today showed that housing valuations remain mired in a horrific slump, with year-over-year prices still way down. Even when the market does bottom out, don't expert a rapid rebound.

By John Goff
NEWS LIFE INSURANCE AND ANNUITIES SEP 08, 2011
MetLife seeks reduced income-benefits for VAs

MetLife Inc., the top seller of variable annuities, is seeking permission from regulators to sell two new income benefits featuring lower withdrawal percentages for its variable annuity riders.

By Darla Mercado
NEWS LIFE INSURANCE AND ANNUITIES SEP 08, 2011
Ratings aside, new Security Benefit CEO aims for stronger retirement product presence

Insurance and investment veteran Michael Kiley, who will take the helm of Security Benefit Corp. on Sept. 30, is setting his expectations high.

By Darla Mercado
S&P downgrades 11,500 munis tied to U.S.
NEWS FIXED INCOME SEP 08, 2011
S&P downgrades 11,500 munis tied to U.S.

S&P assigned AA+ scores to about 11,500 securities in the $2.9 trillion municipal bond market, including school-construction bonds in Irving, Texas; debt backed by a federal lease in Miami; and a bond series for multifamily housing in Oceanside, Calif.

By Doug Cubberley
Muni offerings hit the skids
NEWS RETIREMENT PLANNING SEP 08, 2011
Muni offerings hit the skids

Concerns over a possible default by Uncle Sam rippling the lakes of state issuers; five top-rated borrowers braced for possible downgrade

By John Goff
Surprise! U.S. Chamber takes swipe at Finra
NEWS INDUSTRY NEWS SEP 08, 2011
Surprise! U.S. Chamber takes swipe at Finra

In a surprise, the U.S. Chamber of Commerce slammed the self-regulatory organization in a report this week. In it, the business group claimed, among other things, that many Finra directors have 'limited or no experience working for a financial services firm.' .

By Mark Schoeff Jr.
Volatility driving more advisers to alternatives
NEWS INDUSTRY NEWS SEP 07, 2011
Volatility driving more advisers to alternatives

Increased market volatility is driving more financial advisers toward alternative investments and a more active approach to investing, according to the results of a new survey from Jefferson National Life Insurance Co.

By Jeff Benjamin
Pimco's Gross: Obama's $300B doesn't cut it
NEWS RIAS SEP 06, 2011
Pimco's Gross: Obama's $300B doesn't cut it

Bill Gross, founder of Pacific Investment Management Co., said President Barack Obama's plan to stimulate the economy with more than $300 billion in tax cuts and spending is inadequate.

By Doug Cubberley
NEWS INDUSTRY NEWS SEP 06, 2011
'New normal minus'

Bill Gross recently ratcheted down his outlook for the U.S. economy. He's not alone. A new survey shows advisers are growing increasingly pessimistic about the state of the recovery -- and the prospects for a stock market rally.

By John Goff
Pimco to gain more 'autonomy' in AGI restructuring
NEWS RETIREMENT PLANNING SEP 06, 2011
Pimco to gain more 'autonomy' in AGI restructuring

Allianz Global Investors on Tuesday announced restructuring effective Jan. 1 that will give PIMCO greater distribution independence and will more closely align the elements of Allianz's other business.

By Drew Carter
NEWS WIREHOUSES SEP 06, 2011
BofA's woes making life difficult for Merrill advisers

Warren E. Buffett's $5 billion vote of confidence in Bank of America Corp. last Thursday notwithstanding, Merrill Lynch advisers have been forced to reassure clients over the past few weeks that their parent company is not headed for insolvency.

By Andrew Osterland
Fiduciary standard gets new — and influential — advocate
NEWS RIAS SEP 06, 2011
Fiduciary standard gets new — and influential — advocate

Wealth managers say it's time all advisers look after the best interests of clients when offering financial guidance. In fact, scores of wealth managers have banded together in a non-profit that backs a higher standard of conduct. .

By Mark Schoeff Jr
Puny Treasury yields could trigger more cuts to annuities – and agents' commissions
NEWS LIFE INSURANCE AND ANNUITIES SEP 06, 2011
Puny Treasury yields could trigger more cuts to annuities – and agents' commissions

With key 10-year Treasury yields touching an all-time low, insurers may have to rein in annuity benefits even further. That's bad news for the carriers -- not to mention brokers and clients.

By Darla Mercado
Ten-year Treasuries overvalued — and then some — but investors buying anyway
NEWS RETIREMENT PLANNING SEP 06, 2011
Ten-year Treasuries overvalued — and then some — but investors buying anyway

Term premium at an all-time high, but investor confidence in economy at rock bottom; 'fear priced into yields'

By John Goff
Gold market is a 'bubble poised to burst,' Wells Fargo says
NEWS INDUSTRY NEWS SEP 06, 2011
Gold market is a 'bubble poised to burst,' Wells Fargo says

Speculative demand from investors has pushed the gold market into a “bubble that is poised to burst.” Wells Fargo & Co. rings the "warning bell."

By Doug Cubberley
Bill Gross: The four factors that will really shape our debt bets
NEWS INDUSTRY NEWS SEP 06, 2011
Bill Gross: The four factors that will really shape our debt bets

Nothing in the Congressional compromise reached over the weekend makes a significant dent in our $1.5 trillion deficit, writes the Pimco bond guru.

By Bloomberg
NEWS INDUSTRY NEWS SEP 06, 2011
Dear Mom and Dad: Camp is great; I won a medal for investing!

For some children of the extremely affluent, vacation will mean taking part in special programs designed to help them deal with issues surrounding wealth

By Andrew Osterland