Chief executive Ramani Ayer today told employees in an internal memorandum that the insurance juggernaut, which has limped its way through dismal financial results and devastating investment losses, has decided to hold on to both units.
National Planning Holdings Inc., the Santa Monica, Calif. independent broker-dealer network, saw its revenue slip 15% during the first quarter, to $136 million from $159.9 million a year earlier.
Treasury Secretary Timothy Geithner says the economy is stabilizing but that unemployment will continue to rise.
It took only a matter of months for the markets to lose nearly half their value, but advisers will feel the ripple effects of this economic crisis for years, predicts a prominent consultant.
First-quarter sales of index annuities hit $7 billion — down 2.1% from the fourth quarter but up 22.8% from a year earlier, according to research from AnnuitySpecs.com.
The cost of three-month dollar loans between banks fell to a new record low Monday in a further sign that credit markets are recovering after being paralyzed during the financial crisis.
Following the departure of a major annuities expert and the elimination of some variable annuity riders, Massachusetts Mutual Life Insurance Co. is mulling the future of its role in the VA marketplace.
For decades, the U.S. retirement system was described as a three-legged stool.
The Charles Schwab Corp. edged out Fidelity Investments during the first quarter in the battle to service the small but growing number of stockbrokers who are leaving their Series 7 licenses behind to become independent investment advisers.
President Obama wants as much as $1 billion to establish a federal organization to oversee his proposed automatic-IRA plan.
Worries about saving for college haven't stopped parents from continuing to set money aside for higher-education costs.
Many financial advisers are suffering a crisis of confidence that is hurting their relationships with existing clients and hampering their abilities to recruit new clients.
The global economic crisis could turn out to be a blessing in disguise for the ever-expanding managed-accounts industry.
Although the majority of consumers who participated in the National Financial Literacy Survey gave themselves good grades for their knowledge of personal finance, many admitted that they aren't saving money for the future.
Finra chief Richard Ketchum's call for a fiduciary standard for all advisers, even as he indicated that he would not want to significantly alter suitability rules for broker-dealers, highlights the difficulties inherent in harmonizing the two regulatory standards as the strife-torn industry moves towards establishing a single self-regulatory organization for advisers.
The lack of a uniform fingerprinting requirement for insurance agents and brokers may serve as new ammunition in the battle over federal regulation of the insurance industry.
Stable-value funds are the safest investment option available to 401(k) plan participants, but recent problems at two funds illustrate why sponsors should exercise caution in selecting them, according to observers.
Wealthy Americans who have offshore bank accounts may be sweating more than usual this summer.
Ameriprise Financial Inc. on Friday stepped back from receiving TARP money, less than 24 hours after the Department of the Treasury cleared it to participate in the program.
