In a dramatic re-branding, NAVA Inc., the trade group of variable annuity providers, last week changed its name to the Insured Retirement Institute and its focus to serving “the insured-retirement-strategies industry and consumers who rely on those guarantees.”
The Internal Revenue Service recently ruled that an improper transfer of funds from an individual retirement account from which the client was taking 72(t) payments triggered the 10% early-withdrawal penalty.
First, carry out the sentence. Then select the jury (preferably a dysfunctional or biased one). Finally, hold the trial and announce the verdict. That is the peculiar process that Congress and the Obama administration are following in trying to ensure that there will be no repeat of the financial crisis.
How recession-strapped consumers will spend their limited dollars is a question that is perplexing the financial markets and the pricing of consumer-related stocks.
The Securities and Exchange Commission will likely reissue a rule that classifies equity index annuities as securities and subjects them to federal oversight.
Depending on the outcome of health care reform, investment opportunities could be found in a variety of related sectors, including pharmaceuticals, biotechnology and even certain insurers.
Following the company's release of strong second-quarter earnings, John J. Degnan, chief operating officer of The Chubb Corp., yesterday took a dig at competitors for accepting federal aid.
Online brokerage OptionsXpress'profit fell 31 percent in the second quarter as expenses rose 48 percent, the firm reported today.
Although affluent and millionaire investors may be more optimistic about the economy, they are still not confident about the stock market, according to a survey released today by Phoenix Marketing International of Rhinebeck, N.Y.
The Hartford (Conn.) Financial Services Group Inc. said that it has slashed 270 jobs in its investment products division, eliminating positions in its Planco LLC unit.
T. Rowe Price Group Inc..'s second-quarter profits dropped 38% in the second quarter, in large part due to investment-advisory revenue. The Baltimore-based firm did, however, beat Wall Street expectations.
Financial adviser Ameriprise Financial Inc.'s second-quarter profit dropped 58 percent as it dealt with the fallout from a weak stock market, but results still managed to beat expectations.
Swiss bank Credit Suisse Group today reported a 29 percent increase in second quarter net profit after a strong performance in its investment unit drove up core revenues.
PNC Financial Services Group Inc. says its second-quarter profit dropped 87 percent largely because of an FDIC assessment and the continued cost of integrating National City Corp. into its operation.
CME Group Inc. said today its second-quarter profit jumped 10% due to the company's expanding operations. The exchange operator's profit beat analysts' expectations.
The government says the number of newly laid-off workers seeking jobless benefits rose last week, though the report was distorted by the timing of auto plant shutdowns.
Investors celebrated news of another jump in home sales by propelling the Dow Jones industrials to their first close above 9,000 since January.
Fifth Third Bancorp today posted a profit for the second quarter because of a $1.1 billion gain from the sale of a controlling interest in its processing business.
Bank holding companies reaped a record $734.5 million in annuity fee income during the first quarter, according to data from Michael White Associates.
