Industry News

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INVESTING LIFE INSURANCE AND ANNUITIES NOV 29, 2007
Prudential taps Strangfeld as CEO

Mr. Strangfeld, currently vice chairman of Prudential, now runs all of the company’s U.S. businesses.

By Bloomberg
RIAS INDUSTRY NEWS NOV 28, 2007
MFS launches web portal for RIAs

The portal gives advisers access to fund attribution analysis, portfolio commentaries, portfolio holdings analysis, and sector/security attribution.

By Bloomberg
RIAS INDUSTRY NEWS NOV 28, 2007
Existing home sales drop 1.2%

Sales of existing homes fell in October pushing supply of homes to the highest level since 1985.

By Bloomberg
RIAS INDUSTRY NEWS NOV 28, 2007
Sigma CCO charged with child molestation

Michael John Brooks is charged with four counts of second degree criminal sexual misconduct.

By InvestmentNews
RIAS INDUSTRY NEWS NOV 27, 2007
Astor sues Astor

The son of New York philanthropist Brooke Astor and his attorney are expected to be indicted due to their handling of her $198 million estate.

By Bloomberg
RIAS INDUSTRY NEWS NOV 27, 2007
CD designed for 529s

Oregon's new certificate of deposit linked to the S&P 500 Index offers a guarantee and possible growth.

By Bloomberg
ADVISOR NEWS RETIREMENT PLANNING NOV 27, 2007
Citigroup sells stake to Abu Dhabi authority

Citigroup Inc. is selling a 4.9% stake to the Abu Dhabi Investment Authority, in a transaction valued at $7.5 billion.

By Bloomberg
RIAS INDUSTRY NEWS NOV 27, 2007
Consumer confidence drifts down

Conference Board says worries about the stock market and rising gasoline prices led to 7.9-point drop in November.

By Bloomberg
RIAS INDUSTRY NEWS NOV 27, 2007
Fisher Investments enters publishing biz

Wiley and Fisher Investments create joint venture to publish books written by asset manager's employees.

By Bloomberg
RIAS INDUSTRY NEWS NOV 27, 2007
Housing prices continue to slip

Prices of existing U.S. homes fell 4.5% in the third quarter, according to the S&P/Case-Shiller Home Price Indices.

By Bloomberg
RIAS INDUSTRY NEWS NOV 27, 2007
Barclays to meet profit expectations

Barclays PLC said earnings will be in line with consensus, despite a £1.3 billion ($2.7 billion) write-down.

By Bloomberg
RIAS INDUSTRY NEWS NOV 27, 2007
More model portfolio managers

The number of asset managers participating in model portfolio programs has doubled over the past four years.

By Bloomberg
INVESTING LIFE INSURANCE AND ANNUITIES NOV 26, 2007
Is disinterest in retirement products problematic?

Financial advisers lack interest in new retirement income products, with many reporting that the products are too complicated and costly, according to observers.

By Bloomberg
ADVISOR NEWS WIREHOUSES NOV 26, 2007
The F word war

I would like to respond to recent comments of Sallie Krawcheck, chief executive of Citigroup Inc.'s global-wealth-management division, as quoted in "Krawcheck: Accept the F[iduciary] word" (InvestmentNews Daily, Nov. 8.).

By Investment News Team
RIAS INDUSTRY NEWS NOV 26, 2007
Golden rule for the golden years: Get a plan

While many retirees are happier than their counterparts who are working, few who have retired have actually formulated a financial plan for their retirement years.

By Bloomberg
ADVISOR NEWS WIREHOUSES NOV 26, 2007
Merrill, Morgan reps wait on fee conversion

Some brokers at Merrill Lynch & Co. Inc. and Morgan Stanley have been hesitating to use new advisory options that their firms have deployed as replacements for fee-based brokerage accounts.

By Bloomberg
INVESTING LIFE INSURANCE AND ANNUITIES NOV 26, 2007
Mutual fund/insurance hybrid on the horizon

As early as next year, retirees may see a new hybrid investment product that blends mutual funds with insurance guarantees, possibly signifying an alliance between the two industries.

By Bloomberg
RIAS INDUSTRY NEWS NOV 26, 2007
Investor optimism in free fall

Optimism plummeted to its lowest level in two years this month, according to the UBS/Gallup Index.

By Bloomberg
INVESTING LIFE INSURANCE AND ANNUITIES NOV 26, 2007
Kennedy named NCOIL president

The National Conference of Insurance Legislators has announced a new slate of officers.

By Bloomberg
INVESTING LIFE INSURANCE AND ANNUITIES NOV 26, 2007
Jackson Life selects senior VP

Kevin Grant has been chosen as senior vice president of business planning services for Jackson National Life Distributors.

By Bloomberg