Industry News

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NEWS RIAS AUG 12, 2008
Placemark and United create platform

Placemark Investments new United Capital relationship is its second significant deal in the RIA space.

By Bloomberg
NEWS INDUSTRY NEWS AUG 11, 2008
Investors go for gold in garbage

One person's trash is another's alpha.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES AUG 11, 2008
Lieberman named CEO of Hartford Life Ltd.

The Hartford Financial Services Inc. today appointed Marc Lieberman president and chief executive of Hartford Life.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES AUG 11, 2008
Berkshire slumps, MBIA back in black

Berkshire Hathaway reported net earnings declined to $2.88 billion from $3.12 billion a year ago.

By Bloomberg
NEWS INDUSTRY NEWS AUG 11, 2008
Take a closer look at clients' art collections

Financial advisers need to pay more attention to their clients' art collections, according to experts who are trying to bring the art and financial worlds closer together.

By Bloomberg
NEWS INDUSTRY NEWS AUG 11, 2008
The right role for international stocks

Over the past six years, international stocks — those of companies from both developed countries and emerging markets — have outperformed U.S. stocks by a wide margin.

By Bloomberg
NEWS BROKER DEALERS AUG 11, 2008
Securities America itches to make more acquisitions

Securities America Inc. has made a splash in the roiling mergers and acquisitions market for independent broker-dealers, and it could make more waves soon.

By Bloomberg
NEWS INDUSTRY NEWS AUG 11, 2008
David Devoe

When David Devoe talks about mergers and acquisitions among RIA firms, advisers pay attention.

By Bloomberg
NEWS INDUSTRY NEWS AUG 11, 2008
Uncorking a new asset class

The practice of fine wine investing, which has appealed to wealthy and sophisticated collectors for ages, is coming out of the cellar and could emerge as a legitimate alternative-asset class.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES AUG 11, 2008
Variable's loss is fixed's gain

Because of slumping second-quarter sales of variable annuities, industry observers believe fixed annuities could benefit.

By Bloomberg
NEWS PRACTICE MANAGEMENT AUG 11, 2008
Advisers urge clients to prepare for potential layoffs

As layoffs rise, some financial advisers are encouraging their clients to come up with contingency plans in case they lose their jobs.

By Darla Mercado
NEWS INDUSTRY NEWS AUG 08, 2008
Oil prices drop

Oil prices tumbled this morning on news of a stronger dollar, despite fears over a supply shortage after the threat of a terrorist attack.

By Bloomberg
NEWS INDUSTRY NEWS AUG 08, 2008
UBS to buy back $19.4 billion of ARS

UBS AG has agreed to buy back $19.4 billion in auction rate securities on which the value collapsed in February.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES AUG 08, 2008
Principal report focuses on retirement income

The Principal Financial Group has released a white paper that examines the four methods of providing retirees with income.

By Bloomberg
NEWS INDUSTRY NEWS AUG 08, 2008
U.S. productivity up 2.3%

Second quarter data was not as strong as the 2.5% rate that had been predicted by economists polled by Thomson Reuters.

By Bloomberg
NEWS INDUSTRY NEWS AUG 07, 2008
Merrill plans $10 billion ARS buyback

The nation's largest brokerage firm will buy securities held by 30,000 clients.

By Bloomberg
NEWS INDUSTRY NEWS AUG 07, 2008
SEC settles with Citigroup over ARS

The Securities and Exchange Commission has announced a “preliminary settlement” with Citigroup.

By Bloomberg
NEWS INDUSTRY NEWS AUG 07, 2008
Turnaround seen in consumer confidence

Falling oil prices and a recovering stock market have halted the precipitous drop in consumer confidence prevalent throughout 2008, according to new data.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES AUG 07, 2008
Marsh & McLennan profits plunge 63%

Marsh & McLennan Cos. of New York reported that its second quarter profit fell 63%to $65 million, or 13 cents per share.

By Bloomberg
NEWS INDUSTRY NEWS AUG 07, 2008
Massachusetts pension board fires five managers

The Massachusetts pension board fired five managers, including Legg Mason Capital Management.

By mstrickberger