Although it is common, and perfectly legal, for insurers to prune funds from their VA menus periodically, financial advisers say the practice is increasingly thwarting their ability to put clients in the best possible funds.
The top 50 largest registered investment advisory firms managed $127.2 billion as of the end of the second quarter — up a sizable 16% from the end of the second quarter in 2009.
Former Citigroup Inc. stockbroker Ralph Casbarro was fined $500 and received no prison sentence or probation for his involvement in a scheme to let day traders eavesdrop on internal conversations over brokers' “squawk boxes.”
Prudential Plc, the U.K.'s biggest insurer, promoted Mike Wells to chief executive officer of its U.S. division and appointed two new non-executive directors as it reorganizes the board after a failed takeover bid in Asia.
In the two months since sweeping financial reform legislation became law, the measure has failed to win over the vast majority of investment advisers. Others say they're just plain confused by it.
Attorneys also predict insurer's marketing of new VA will trigger lawsuits; 'half-baked solicitation'
It appears the SEC will be sorting through its mail for some time.
The Securities Industry and Financial Markets Association wants to delay the effective date of any new standard of care that the Securities and Exchange Commission may adopt for brokers giving advice to retail investors.
In his widely-anticipated speech in Jackson Hole, Wyoming last Friday, Fed Chairman Ben Bernanke stated that the Fed was “…prepared to provide additional monetary accommodation through unconventional measures if it proves necessary, especially if the outlook were to deteriorate significantly.”
The Tax Foundation, a Washington research group that advocates for lower taxes, said state, local and federal levies would result in a tax rates of nearly 50% in some states' top earners.
Study reveals which locales will end up with highest total marginal tax rates; Hawaiian punch
Check out the estimates from strategists at brokerages for where the Standard & Poor's 500 Index will finish 2010 and how much profit companies in the benchmark measure of U.S. stocks will generate
Sure, investors have fled the stock market. Ask them why and many say the market's gotten too unpredictable, too scary. But new research shows those fears are overblown.
Predicts holders of stock will 'lose a lot of money in next 18 months'
The NBER says the recession ended in June 2009. But an exclusive <i>InvestmentNews</i> survey reveals most advisers think the economy is still hurting, with 'effects that will linger for months and years to come.'
Advent Software yesterday announced availability of Moxy 7.0, the latest version of the trade order management system that's so popular with registered investment advisory firms
As the Securities and Exchange Commission wrestles with the task of defining a standard of care for anyone who gives investment advice to retail clients, executives at TD Ameritrade Inc. aren't having a difficult time with the issue.
