Industry News

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NEWS INDUSTRY NEWS OCT 29, 2007
Specialized practices bloom at juncture of past, future careers

After 11 years as an emergency room physician, Carolyn McClanahan saw her career change course.

By Bloomberg
NEWS INDUSTRY NEWS OCT 29, 2007
It may be time to give some financial stocks a second look

It would seem that after the latest sell-off, financial services stocks would be a screaming "buy" for most investors.

By Bloomberg
NEWS BROKER DEALERS OCT 29, 2007
Ladenburg acquires indie firm Investacorp

Ladenburg Thalmann Financial Services Inc.'s acquisition last week of Investacorp Inc., could position the latter to be more active in recruiting representatives and financial advisers, as well as potentially buying smaller firms.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES OCT 29, 2007
Hancock offers 8% withdrawal guarantee on annuities

John Hancock Annuities is making a run for old and young retirees with a new annuity rider.

By Bloomberg
NEWS INDUSTRY NEWS OCT 26, 2007
Merrill's O'Neal talked merger with Wachovia

Merrill board irked by CEO E. Stanley O'Neal's unauthorized outreach, The New York Times reports.

By Bloomberg
NEWS REGULATION AND LEGISLATION OCT 26, 2007
E-M Management hits up investor for cash

After his business fell apart, Ed May asked a former client to put money into a new set of investments.

By Bloomberg
NEWS RETIREMENT PLANNING OCT 26, 2007
In California, advisers worry about clients

Some 77% of respondents to an InvestmentNews survey plan to reach out to clients in areas affected by wildfires.

By Bloomberg
NEWS INDUSTRY NEWS OCT 26, 2007
Consumer confidence drops

Falling home prices and higher food and fuel prices drove consumer confidence lower this month.

By Bloomberg
NEWS RIAS OCT 26, 2007
Oregon unveils hybrid 529 savings tool

The Oregon College Savings Plan will combine principal protection with upside potential.

By Bloomberg
NEWS RETIREMENT PLANNING OCT 26, 2007
ICI urges Michigan to repeal advice tax

The mutual fund trade group asks the state to repeal a new sales tax on investment advice services.

By Bloomberg
NEWS INDUSTRY NEWS OCT 25, 2007
New-home sales rise, durable goods fall

Sales of new one-family homes rose 4.8% to a seasonally adjusted annual rate of 770,000 from a revised 735,000 in August.

By Bloomberg
NEWS INDUSTRY NEWS OCT 25, 2007
Chinese economy surges 11.5% in Q3

Despite strong growth, numbers are down slightly from Q2 as officials make effort to curb inflation.

By Bloomberg
NEWS INDUSTRY NEWS OCT 25, 2007
U.S. bracing for recession, survey says

Americans have become even gloomier about the economy, but the reality may not be all that bad, says an economist.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES OCT 25, 2007
MBIA in red for third quarter

MBIA, the world’s largest bond insurer, reported third-quarter earnings with a net loss of $36.6 million, or 29 cents per share.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES OCT 24, 2007
NYLI elects chief administrative officer

The board of New York Life Insurance has elected Frank Boccio to the position of executive vice president and CAO.

By Bloomberg
NEWS WIREHOUSES OCT 24, 2007
Merrill reels from $7.9B write-down

The worse-than-expected third-quarter losses raise questions as to the fate of chief executive Stanley O’Neal.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES OCT 23, 2007
NYSE Reg creates risk unit

The Risk Group will be responsible for identifying, tracking and addressing key external market and industry trading developments.

By Bloomberg
NEWS INDUSTRY NEWS OCT 22, 2007
The largest managers

BS AG remained the world’s largest money manager in terms of assets under management, with $2.45 trillion, to lead the Pensions & Investments/Watson Wyatt Worldwide ranking of the world’s 500 largest money managers in 2006.

By Bloomberg
NEWS INDUSTRY NEWS OCT 22, 2007
Ladenburg scoops up Investacorp

Ladenburg Thalmann has acquired Investacorp, a B-D with close to 500 affiliated reps.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES OCT 22, 2007
ACLI elects chairman, directors

The American Council of Life Insurers today elected Dennis R. Glass, president and CEO of Lincoln Financial Group, as its 2008 chairman.

By Bloomberg