Industry News

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NEWS INDUSTRY NEWS OCT 10, 2007
Indies growing, but wirehouses have assets

The number of brokers at independent dealers will catch up to the number of wirehouses in three years.

By Bloomberg
NEWS RETIREMENT PLANNING OCT 10, 2007
No help for plans from PPA, says study

The PPA has not increased the security of defined-benefit pension plans, the Pension Benefit Guaranty Corp. said.

By Bloomberg
NEWS INDUSTRY NEWS OCT 10, 2007
Wholesale inventories remain flabby

U.S. wholesalers' inventories increased at a slower-than-expected rate in August, as demand for goods increased.

By Bloomberg
NEWS INDUSTRY NEWS OCT 09, 2007
Vanguard adds pool to charitable program

The Select Multi-Asset Pool is actively managed and invests in a broader range of asset classes than the program’s other pools.

By Bloomberg
NEWS INDUSTRY NEWS OCT 09, 2007
Pershing and LPL join forces

Pershing will expand its products and services to LPL B-Ds that use Pershing, the firms announced today.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES OCT 08, 2007
Advisers, providers remain skeptical on ETF-based annuities

More than two years after the launch of the first variable annuity based on exchange traded funds, VA providers and financial advisers are still ap-proaching the product with caution.

By Bloomberg
NEWS WIREHOUSES OCT 08, 2007
Analysts downgrade Merrill Lynch stock

JPMorgan Chase analyst Kenneth B. Worthington downgraded Merrill's stock to "neutral" from ''overweight.''

By Bloomberg
NEWS FINTECH OCT 08, 2007
First Southwest to send platform via B-Ds

The clearing firm's B-Ds will provide consolidated performance reporting across all accounts.

By Bloomberg
NEWS INDUSTRY NEWS OCT 08, 2007
Jackson names VP of eastern B-Ds

In this newly created role, Gregg Mahalich will oversee Jackson’s wholesale efforts among regional firms.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES OCT 08, 2007
Marsh unit sued by Connecticut AG

Guy Carpenter and Co. is accused of conspiring with reinsurers to fix prices and eliminate competition.

By Bloomberg
NEWS INDUSTRY NEWS OCT 08, 2007
ING takes carbon-neutral path

ING Investment Management Americas will purchase wind energy credits for its domestic operations equal to all of its electricity needs in the hopes of becoming carbon neutral by the end of the year.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES OCT 08, 2007
Advisers, providers remain skeptical on ETF-based annuities

More than two years after the launch of the first variable annuity based on exchange traded funds, VA providers and financial advisers are still ap-proaching the product with caution.

By Bloomberg
NEWS INDUSTRY NEWS OCT 08, 2007
Warn clients about IRS phishing scams

My friend Jay figured he was in a win-win situation: He would get $80 from the Internal Revenue Service for participating in an online customer satisfaction survey. In his mind, he would get paid for telling the IRS exactly what he thought about it.

By Investment News Team
NEWS FINTECH OCT 08, 2007
At long last, regulators to define "promptly'

Under regulations governing the securities industry, it's not enough for firms merely to archive e-mails; they must be able to furnish them to regulators “promptly.”

By Bloomberg
NEWS RETIREMENT PLANNING OCT 08, 2007
Personalized service the norm at Highline Wealth Management

The walls of Neal Simon's office at Highline Wealth Management LLC are lined with the images of people he and his wife photographed during their travels through China, Guatemala, India, Indonesia and Peru.

By Bloomberg
NEWS FINTECH OCT 08, 2007
Advisers face the challenge of data consolidation

Financial advisers don't suffer from a lack of client data, but too many providers don't offer such data in a consolidated fashion, forcing advisers to find certain types of information on their own.

By Bloomberg
NEWS INDUSTRY NEWS OCT 08, 2007
Timing investments correctly

As a team of active asset managers, we don't want to own all of the stocks all of the time, to paraphrase P.T. Barnum.

By Investment News Team
NEWS INDUSTRY NEWS OCT 08, 2007
Community Leadership Awards

Ken Clark, Barry Glassman, Gerry Strid and Arnerich Massena &#38; Associates Inc. were named winners of the 2007 Community Leadership Awards, which were presented by the Invest in Others Charitable Foundation and <i>InvestmentNews</i>, late last month in New York.

By InvestmentNews
NEWS INDUSTRY NEWS OCT 05, 2007
Good news on jobs front

The U.S. added 110,000 new jobs last month, following a significant upward revision for the two prior months.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES OCT 05, 2007
Gallagher buys insurance brokerage firm

BIS Insurance Services, a Sacramento, Calif. employee benefits insurance broker, will remain in its current location.

By Bloomberg