The first income guarantee wrap-per around a managed-account portfolio hasn't even been sold yet, but its mere existence has sparked growing interest in retirement income products within the managed-accounts industry.
MassMutual announced that it had completed its purchase of First Mercantile Trust Co. from SunTrust Banks Inc. of Atlanta.
Fidelity Investments' recent launch of an emerging-markets fund may signal the next frontier, but emerging markets' reputation for risk will likely lead investors to keep exposure to a minimum.
Open architecture has been slow to come to the structured products market.
Estimated sales of fixed annuities were $18.1 billion in the first quarter, a 35% increase from the level a year earlier.
Like Goldilocks, financial advisers can't seem to find many new retirement income products that are "just right."
A group of single-premium annuity pension plan brokers who allegedly took kickbacks from insurance carriers is under investigation by the state of Connecticut and may face steep penalties, according to Attorney General Richard Blumenthal.
The Wall Street Wizards, the financial literacy program founded four years ago for minority students in the San Francisco Bay Area, is gearing up to go national.
Two key economic indicators, consumer spending and personal income growth, both slowed in April.
The U.S. gross domestic product estimate for the first quarter was revised up to 0.9%, from a predicted 0.6%.
The Hartford Financial Services has divided its life insurance operations into four market groups.
This deferred payout annuity allows clients to buy a stream of guaranteed income for a minimum of $10,000.
William Thomason's world is mysterious — at least to the black and Hispanic high school students entering the financier's Wall Street Wizards Urban Financial Literacy Program.
LPL Financial, the nation's largest independent-contractor broker-dealer, is on the lookout for plum acquisition candidates, although a top executive says growth through current advisers is the company's prime goal.
Mortgage applications dipped 4.6% for the week ended May 23 due to a drop in refinancing activity.
New orders for durable goods fell by a lower-than-expected 0.5% last month, according the Department of Commerce.
A Bank of America analyst has slashed earnings estimates for Lehman Bros., Goldman Sachs and Morgan Stanley.
The Conference Board Consumer Confidence Index fell to a reading of 57.2, down from 62.8 in April.
House prices continued to plunge in the first quarter, with new data revealing record declines across the country.
Whether they like it or not, advisers have become well-versed in financial manias, panics and bubbles.
