Industry News

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NEWS ALTERNATIVES JUN 18, 2010
Pimco: A debt bet to avoid

The rally in bonds from real estate investment trusts that's made property debt the best performer this year is overdone as a slowing economy may threaten their performance, according to Pacific Investment Management Co.

By Bloomberg
NEWS INDUSTRY NEWS JUN 18, 2010
Fund managers smacked by bets on Goldman Sachs

A number of mutual funds placed sizable bets on Goldman Sachs -- bets that have been walloped by the SEC's suit against the Wall Street titan

By Jessica Toonkel Marquez
NEWS INDUSTRY NEWS JUN 18, 2010
Why health care stocks are still undervalued: Podcast

Uri Landesman, head of global growth at ING Investment Management Americas, talks about the immediate and longer-term impact of health care reform on health care sector stocks.

By Jeff Benjamin
Falling Starr: A timeline of a celebrity financial adviser's alleged fraud
NEWS RIAS JUN 17, 2010
Falling Starr: A timeline of a celebrity financial adviser's alleged fraud

Kenneth Ira Starr, an investment adviser with a roster of celebrity clients, was charged by the U.S. government on May 27 with orchestrating a $30 million fraud. (An alleged fraud that feds would eventually bump up to an estimated $59 million.)

By Mark Bruno
NEWS RIAS JUN 17, 2010
Jeremy Siegel tells advisers: Markets still have 'extraordinary' potential

Despite the huge equity market rally since the March 2009 lows, U.S. stocks remain undervalued relative to long-term trends, according to Jeremy Siegel.

By Bloomberg
NEWS RETIREMENT PLANNING JUN 17, 2010
CapTrust snags star 401(k) adviser from RBC

Firms that focus on the 401(k) market, like CapTrust, have recently reported a pickup in interest from advisers who focus primarily on retirement plans.

By Darla Mercado
NEWS LIFE INSURANCE AND ANNUITIES JUN 17, 2010
Academic promotes government bonds to hedge longevity risk

"Longevity bonds" would be issued by the government and would act as a hedge for pension plans and insurers.

By Darla Mercado
House-Senate conference the last chance for fiduciary amendment
NEWS RIAS JUN 17, 2010
House-Senate conference the last chance for fiduciary amendment

After more than three weeks of debate, the Senate approved a comprehensive overhaul of financial regulations on Thursday night without acting on fiduciary standards amendments.

By Mark Schoeff Jr. and Hilary Johnson
NEWS RETIREMENT PLANNING JUN 17, 2010
More focus on post-retirement planning needed

Consultant Leonard Reinhart says the advisory business isn't spending enough time on helping clients after they retire

By Jeff Benjamin
NEWS RETIREMENT PLANNING JUN 17, 2010
S&P: Getting healthy, wealthy and wise

Standard & Poor's Equity Research's fundamental outlook for the health care services industry for the next 12 months is positive.

By Standard & Poor's
NEWS RETIREMENT PLANNING JUN 16, 2010
GenSpring adds family investment officer

GenSpring Family Offices LLC said today that it has hired Puneet S. Sahi as a family investment officer for its Costa Mesa, Calif., office.

By Bloomberg
Boston Private: We've paid back our TARP money
NEWS RIAS JUN 16, 2010
Boston Private: We've paid back our TARP money

Boston Private Financial Holdings Inc. announced today that it has repaid the remaining $104 million in TARP money it owes the U.S. Treasury.

By Bloomberg
NEWS RETIREMENT PLANNING JUN 16, 2010
If 'the number' doesn't really matter, what does?

Consuelo Mack's all-star panel re-thinks retirement income, and what should really matter most in your clients' portfolios.

By Mark Bruno
NEWS REGULATION AND LEGISLATION JUN 16, 2010
SEC approves halts for S&P 500 stocks after 10% swings

The U.S. Securities and Exchange Commission approved rules that will halt trading in Standard & Poor's 500 Index stocks during periods of volatility, a response to the May 6 plunge that wiped out $862 billion in 20 minutes.

By Bloomberg
Investors drilling BP
NEWS INDUSTRY NEWS JUN 16, 2010
Investors drilling BP

Investors pummeled shares of oil drillers and BP yesterday, sending the company to 15 month low, after President Obama talked tough about dealing with the worst oil spill in the nation's history.

By Mark Bruno
NEWS INDUSTRY NEWS JUN 16, 2010
Attention B-Ds: RIA business is not a fad, say Pershing execs

Convincing broker-dealers to embrace the advisory business is still an "educational process.

By Dan Jamieson
NEWS RIAS JUN 16, 2010
High-frequency trading merits close examination

The May 6 "flash crash" revealed an area of the financial markets that isn't touched by the financial-reform bills in Congress but nevertheless must be examined.

By MFXFeeder
NEWS RETIREMENT PLANNING JUN 16, 2010
Labor Dept.'s 401(k) proposal could rock pension advice business

The Labor Department today released proposed regulations that prohibit financial advisers giving advice to 401(k) plans, or their employer or the employer's affiliates, from receiving extra compensation because the plan sponsors bought a product recommended by the adviser.

By Jessica Toonkel Marquez
NEWS INDUSTRY NEWS JUN 15, 2010
Pimco's MINT attracting plenty of green

Pacific Investment Management Co. LLC's Enhanced Short Maturity Strategy Fund exchange-traded fund is off to a rousing start — a development that's not going unnoticed by rivals or advisers.

By Jessica Toonkel Marquez
NEWS BROKER DEALERS JUN 15, 2010
LPL hit with class action over broker's sale of annuities

A pair of Nebraska investors have filed a class-action lawsuit against LPL Financial, saying that one of the company's brokers misled them about the costs and benefits of annuities.

By Associated Press