Advisor News

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Wall Street and environs 'subsidizing the slackers in the rest of the country': NYU prof
REGULATION AND LEGISLATION APR 25, 2012
Wall Street and environs 'subsidizing the slackers in the rest of the country': NYU prof

Latest tax data shows metro NYC area paid 1.6% of all individual income taxes; 'most productive'

By John Goff
REGULATION AND LEGISLATION APR 24, 2012
Antilla: Americans began signing their rights away after Shearson vs. McMahon

Landmark court decision approving brokerage arbitration system caught attention of other industries; 'no place to go'

By John Goff
Advisers share public's dismal opinion of Washington
RETIREMENT PLANNING APR 24, 2012
Advisers share public's dismal opinion of Washington

Americans are sick of watching politicians squabble in a capital riven along partisan lines – a sentiment that is reflected by investment advisers.

By Mark Schoeff Jr.
EQUITIES APR 24, 2012
LPL: Tax rate changes show little impact on markets

By Jeffrey Kleintop
Applying fiduciary rule to IRAs would be especially painful: Report
REGULATION AND LEGISLATION APR 24, 2012
Applying fiduciary rule to IRAs would be especially painful: Report

Study on the price tag of applying fiduciary rule to IRAs shows huge costs, diminished access and service

By Darla Mercado
ALTERNATIVES APR 24, 2012
Oppenheimer fund solicitation challenged in investor lawsuit

The Oppenheimer Holdings solicitation allegedly overstated the value of holdings in the Global Resource Private Equity Fund, described in a private placement memorandum as a fund of funds intending to invest in natural resource-related companies.

By Doug Cubberley
Killing estate tax gathers 'mo on Capitol Hill
REGULATION AND LEGISLATION APR 24, 2012
Killing estate tax gathers 'mo on Capitol Hill

Supporters of a bill that would eliminate the estate tax are touting the fact that the legislation has attracted more than 200 House sponsors. But for now, this measure serves mostly as a Republican political statement. Democrats are making their own noise with tax bills that probably won't go anywere this year.

By Mark Schoeff Jr.
Ex-head of real estate trade group said she bilked investors
REGULATION AND LEGISLATION APR 24, 2012
Ex-head of real estate trade group said she bilked investors

Renee Marie Brown faces 20 years in prison for hawking bogus bond fund

By Bruce Kelly
Former LPL rep sold TICs with 'tricks': Lawyer
INDEPENDENT BROKER DEALERS APR 24, 2012
Former LPL rep sold TICs with 'tricks': Lawyer

Elderly couple awarded $1.4M for claim over tenant-in-common exchanges; were seeking $8M

By Bruce Kelly
Cargill heir leaves astonishing sum to animals, elderly
RETIREMENT PLANNING APR 24, 2012
Cargill heir leaves astonishing sum to animals, elderly

At $6B, Margaret Cargill top donor in U.S. in 2011; Michael Bloomberg, George Soros also big givers

By Bloomberg
RETIREMENT PLANNING APR 23, 2012
In rejiggering, MetLife to curb VA sales, roll out health insurance

Carrier aims to pull away from 'capital-intensive' products — including annuities

By Darla Mercado
FINTECH APR 23, 2012
Davis Janowski: Sometimes one is better than two

By Janowski Davis
RETIREMENT PLANNING APR 23, 2012
Hutcheson case highlights risks for advisers

By Darla Mercado
SALB story: Loring Ward to offer stand-alone living benefits
RETIREMENT PLANNING APR 23, 2012
SALB story: Loring Ward to offer stand-alone living benefits

Turnkey asset manager in talks with Transamerica Life Insurance Co. and The Phoenix Cos. to develop income-producing product

By Darla Mercado
LIFE INSURANCE AND ANNUITIES APR 23, 2012
Lincoln National ordered to make good on insurance in heated Stoli case

Judge finds for claimant in $5 million stoli benefits payment from Lincoln National Life

By Darla Mercado
Pru will pay $17M to settle with seven states over death benefits
LIFE INSURANCE AND ANNUITIES APR 23, 2012
Pru will pay $17M to settle with seven states over death benefits

Prudential Financial Will pay $17 million to settle with seven states; regulators claim insurer used more comprehensive database for cutting off annuity payments than one used to locate those owed money.

By Bloomberg
Prudential settles with 20 states over unclaimed death benefits
REGULATION AND LEGISLATION APR 23, 2012
Prudential settles with 20 states over unclaimed death benefits

Agreement requires insurer to step up cross referencing to locate unpaid beneficiaries

By Darla Mercado
FINTECH APR 23, 2012
Cost basis on mutual fund assets updated in DTCC system

By Davis Janowski
RETIREMENT PLANNING APR 23, 2012
LTCI too pricey even for Uncle Sam as CLASS Act yanked

Executives at life insurance companies can breathe a sigh of relief now that the proposed federal long-term-care insurance program — the CLASS Act — has been killed

By Darla Mercado
FINTECH APR 22, 2012
Pinterest drawing interest from small-business owners

Ease of use a real selling point; trails only Facebook, Twitter in popularity

By LKUYKENDALL