Industry News

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NEWS WIREHOUSES APR 23, 2007
JP Morgan Chase goes Hollywood

JP Morgan Chase & Co. said it has launched JPMorgan Entertainment Advisors to provide financial and strategic advice, services and products to clients in the entertainment and media businesses.

By Bloomberg
Some cheeseheads love HSAs
NEWS RETIREMENT PLANNING APR 23, 2007
Some cheeseheads love HSAs

Health savings accounts are more than four times more popular with employers in a swath of Wisconsin than in the United States as a whole

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES APR 23, 2007
North Dakota blazes a regulatory trail

NEW YORK — North Dakota last week became the first state to adopt a more stringent statute regulating life settlements, with special emphasis on stranger-originated life insurance.

By Bloomberg
NEWS WIREHOUSES APR 23, 2007
Director jumps from UBS to JP Morgan

JP Morgan Chase & Co. has tapped Joe Jiampietro, a former UBS AG managing director in the financial institutions and governments team, making him the latest to leave the Zurich-based bank.

By Bloomberg
NEWS BROKER DEALERS APR 23, 2007
Instinet opens BrokerShare to non B-Ds

Instinet Group Inc., a global agency broker, has announced the expansion of its BrokerShare commission sharing arrangement program to include non broker-dealers.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES APR 23, 2007
Insurance Co. yields $25M to WisdomTree

WisdomTree Investments Inc. of New York announced today that Independence Blue Cross of Philadelphia, through its subsidiary QCC Insurance Co., has allocated $25 million to WisdomTree’s High Yielding Equity Index.

By Bloomberg
NEWS WIREHOUSES APR 23, 2007
Morgan's Roach to head Asia operations

Morgan Stanley chief economist Stephen Roach, who has predicted that China will surpass the U.S. as the world's leading economy, was tapped to become the firm’s chairman of Asia operations.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES APR 23, 2007
BofA to buy Chicago's LaSalle Bank

Barclays PLC today announced it would sell Chicago-based LaSalle Bank Corp., a unit of ABN Amro Holding NV, to Bank of America Corp. for more than $21 billion.

By Bloomberg
NEWS WIREHOUSES APR 23, 2007
Bear Stearns to swell Europe, Asia staff

Bear Stearns is planning a large-scale expansion in Europe and Asia, reported the Financial Times.

By Bloomberg
NEWS RETIREMENT PLANNING APR 23, 2007
FPA hopes to leverage court ruling

The Financial Planning Association is hoping that the U.S. Court of Appeals ruling overturning the broker-dealer exemption rule will jump-start the trade group’s initiative to reach out to large financial services firms.

By Bloomberg
NEWS RETIREMENT PLANNING APR 23, 2007
To go with new digs, a new leader for CFP Board

NEW YORK — The Certified Financial Planner Board of Standards Inc. has found itself a new leader and is heading in a new direction — East.

By Bloomberg
NEWS BROKER DEALERS APR 23, 2007
Gross revenue for top 25 indie firms crosses $10B mark

For the second consecutive year, the largest 25 independent-contractor broker-dealers saw top-line growth slow, even though it still was up by double digits.

By Bloomberg
NEWS RIAS APR 23, 2007
Hey there, insurance agent: We can make you an RIA

A new firm is assisting insurance agents in becoming registered investment advisers so the agents can obtain fee income from advice and securities products.

By Bloomberg
NEWS INDUSTRY NEWS APR 23, 2007
Canadian groups are proposing fund risk ratings

OTTAWA — Two approaches for assessing mutual fund and hedge fund risk are moving forward in Canada.

By Bloomberg
NEWS WIREHOUSES APR 23, 2007
Schwab’s donor-advised-fund assets closing in on Vanguard’s

BOSTON — The Schwab Charitable Fund is nipping at the heels of the Vanguard Charitable Endowment Program as the nation’s second-largest donor-advised fund.

By Bloomberg
NEWS INDUSTRY NEWS APR 23, 2007
Money manager opts for ETF over fund

NEW YORK — When veteran money manager James H. Huguet decided to bring to a broader audience the large-cap approach he uses for separately managed accounts, he decided to forgo creating a conventional mutual fund.

By Bloomberg
NEWS WIREHOUSES APR 23, 2007
Smith Barney reps ecstatic over cost cuts

IRVINE, Calif. — Smith Barney reps are supportive of the cost-cutting plan New York-based Citigroup Inc. announced April 11.

By Bloomberg
NEWS INDUSTRY NEWS APR 23, 2007
Tech IPOs poised to make a comeback in New York

NEW YORK — Dice Holdings Inc., which operates career- and job-oriented websites, including Dice.com and JobsintheMoney .com, plans to raise $100 million through an initial public offering.

By Bloomberg
NEWS RETIREMENT PLANNING APR 23, 2007
T. Rowe gets into 401(k) annuities

The mutual fund giant said that it has started offering 401(k) plans an online platform that participants can use to purchase annuities.

By Bloomberg
NEWS FINTECH APR 23, 2007
For advisers, failing to plan is planning to fail

WASHINGTON — Financial advice professionals who routinely log 60-hour workweeks may be spinning their wheels, a new report suggests.

By Bloomberg