Industry News

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NEWS INDUSTRY NEWS DEC 13, 2007
Federal budget 'unsustainable' says CBO

The United States is operating on an unsustainable federal budget that is bound to seriously damage the economy, the Congressional Budget Office said.

By Bloomberg
NEWS INDUSTRY NEWS DEC 13, 2007
Fidelity launches college philanthopy program

The Fidelity Charitable Gift Fund will launch a program with Campus Compact to educate and inspire young people to get involved in philanthropy.

By Bloomberg
NEWS FINTECH DEC 12, 2007
The Hartford buys tech firm

The Hartford announced plans today to acquire TopNoggin, a technology firm based in Powell, Ohio.

By Bloomberg
NEWS RIAS DEC 12, 2007
Fidelity to benefit breakaway brokers

Under the program, RIAs working with Fidelity will have access to affordable medical, dental and vision insurance.

By Bloomberg
NEWS RETIREMENT PLANNING DEC 11, 2007
IRAs outshine defined contribution plans

Assets in individual retirement accounts grew 16.5% in 2006 to a record $4.23 trillion, according to EBRI.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES DEC 11, 2007
Metlife opens deferred-income annuity sale

MetLife will now distribute its retail-deferred income annuity through the carrier’s independent distribution arm.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES DEC 11, 2007
LIFE Foundation names new leader

The Life and Health Insurance Foundation for Education yesterday chose Marvin H. Feldman as the group’s president and CEO.

By Bloomberg
NEWS TAX DEC 11, 2007
H&R Block to post $500 million loss

The tax preparer's second quarter saw the shuttering of its troubled Option One Mortgage business.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES DEC 10, 2007
The Hartford reports high-flying year

The insurance firm forecast core per-diluted-share earnings in the $9.80 to $10.20 range.

By Bloomberg
NEWS INDUSTRY NEWS DEC 10, 2007
SIMFA predicts slow economic growth

The U.S. economy will grow a sluggish 2.1% in 2008 according to the SIFMA's Economic Advisory Roundtable.

By Bloomberg
NEWS INDUSTRY NEWS DEC 10, 2007
Despite returns, advisers bullish on managed futures

The performance of managed futures is languishing, but that hasn't diminished their appeal among financial advisers.

By Bloomberg
NEWS WIREHOUSES DEC 10, 2007
UBS, 2 reps hit with rare award on punitive damages

A stunning $4.6 million award against UBS Financial Services Inc. and two of its brokers late last month revealed how irate the arbitrators were with UBS.

By Bloomberg
NEWS INDUSTRY NEWS DEC 10, 2007
Bacon pays sizzling $175 million for ranch

Maybe the housing market isn't tanking after all. Hedge fund manager Louis Bacon, head of New York-based Moore Capital Management LLC, last month bought the Forbes family's Colorado ranch for what is believed to be the largest sum ever paid for a home purchase in the United States: $175 million.

By Bloomberg
NEWS INDUSTRY NEWS DEC 10, 2007
Upper crust seeks advice before donating

Very wealthy or entrepreneurial investors seek advice before they decide to donate to charity.

By Bloomberg
NEWS BROKER DEALERS DEC 10, 2007
Ameriprise unit loses top rep to First Allied

As Securities America Inc. deals with the sting of losing one of its biggest advisers, the independent broker-dealer continues to tighten its compliance practices and procedures.

By Bloomberg
NEWS INDUSTRY NEWS DEC 10, 2007
More children seen vulnerable to 'kiddie tax'

More children could be trapped by the dreaded "kiddie tax" this year.

By Bloomberg
NEWS INDUSTRY NEWS DEC 10, 2007
True wealth realized by pursuing passions

Building wealth beyond dollars for clients is more challenging and gratifying than peppering their holdings with the latest hot stock pick or designing a soundly diversified portfolio.

By Bloomberg
NEWS INDUSTRY NEWS DEC 07, 2007
Consumer optimism rebounds after drop

Consumer sentiment stabilized in November after a steep decline in October, according to the RBC CASH Index.

By Bloomberg
NEWS INDUSTRY NEWS DEC 07, 2007
Lewis bullish on Bear Stearns stake

Billionaire Joseph Lewis has raised his stake in Bear Stearns to 8.01%, according to a filing with the SEC.

By Bloomberg
NEWS INDUSTRY NEWS DEC 07, 2007
Jobs uptick reported in November

The economy added 94,000 jobs in November, according to a Department of Labor report.

By Bloomberg