The New York State Insurance Department also reproached the plan, arguing that it would be “bad for the banks.”
The French bank posted a $4.93 billion loss compared to a $1.7 billion profit in the year-ago period.
Assets in managed accounts grew by 20.1% last year, hitting $1.49 trillion, according to the Money Management Institute.
The all-in-one rider provides an income step-up to 200% of the initial guaranteed amount 10 years into the policy.
FBR booked a net loss of $27.8 million compared with a net loss of $7 million in the year-ago period.
The Charlotte, N.C.-based bank collected $483 million in annuity fees, or 0.06% of $782.8 billion in assets.
The <a href=/assets/docs/CI39631220.PDF>assessment</a> details areas where reciprocity and uniformity initiatives must improve in U.S. states.
Warren Buffett faced is facing criticism after Moody’s Investors Service — in which he is the largest stakeholder —told bond insurers to accept a bailout.
The consumer price index increased 0.4% in January, fueled in large part by rising food and beverage prices.
Christopher Poch will run the private trust group at the firm.
First-quarter results will suffer from subprime-related trading losses.
Despite its many setbacks in 2007, TD Ameritrade Institutional has one measurable edge over bigger rivals — better trade execution, according to its executives.
As if corporations needed another reason to stop offering quarterly earnings guidance, apparently more and more companies are struggling to make these forecasts even remotely accurate.
The Section 529 college savings plan industry is reaching out to its counterparts at financial aid and student loans groups to hold a first-of-its-kind summit in Washington in late May or early June, InvestmentNews has learned.
Is a secular bear market upon us?
If ever there were a time to flex those stock-picking muscles, this is it.
Registered investment advisers seem to be winning the race to capture the retiring-baby-boomer market, according to Charles "Chip" Roame, managing principal of Tiburon (Calif.) Strategic Advisors LLC, who spoke at the TD Ameritrade Partnership 2008 Conference in Orlando, Fla. this month.
Iowa will be the first state to join an initiative to provide customers with plain-English disclosure on fixed and indexed annuities.
A new survey on consumer attitudes toward college savings has stoked the ongoing controversy about the need for a national marketing plan to promote Section 529 college savings plans.
The Investment Management Consultants Association has been attracting more independent planners and advisers.
