An insurance industry effort to make summary prospectuses permissible for variable annuities is being received warmly by broker-dealers, despite doubts that the complex products can be described adequately in abbreviated form.
The insurer's sales and deposits rose 8% to a record $15.2 billion last year. The firm also reported record net income of $670 million, compared with a $1 billion net loss in 2008.
Stocks are mostly falling after another slump in the euro prolonged concerns about Europe's economy.
The securities industry has been sounding warnings about the hiked liability it would face under a universal fiduciary duty. But if investor claims continue to be arbitrated, such a rule may actually cost firms little
The affluent are feeling as confident now about the economy and their investments as they did in December 2007
Despite a deafening silence from advisers on long-term-care planning, most consumers say they want input from a financial professional on LTC
Further complicating matters, the LTC business requires large amounts of capital, which puts added pressure on carriers that issue the policies
Clients may not be knocking down the doors to participate in the long-term-care-insurance program created last week by the passage of health care reform, but advisers are optimistic the program's existence will spur more discussion around the benefits of LTC planning.
A new series of benchmark indexes that will invest solely in companies that promote gender equality is in the works.
Quantitative money managers are retooling their formulas and product lineups as they attempt to reverse the drought that began almost three years ago, when spiking market volatility turned the quant feast to famine overnight.
There has been a significant increase in merger-related activity as the equity markets have recovered worldwide.
On consecutive Fridays this month, the founders of two independent wealth management firms that sold majority interests to parent consolidator firms were forced from their jobs.
Rush “Rusty” Benton, who founded WealthTrust LLC in 1997 to buy majority stakes in independent wealth management firms, is stepping down as chief executive of the company and will assume the new role of chairman, he said Thursday.
The estate alleges in a lawsuit filed Wednesday that JPMorgan forced the now-failed bank to put up collateral that sapped Lehman of cash.
Upstart independent broker-dealer DeWaay Financial Network LLC has landed another top independent registered rep.
Copper just slipped into a bear market. If his Ph.D. still carries any clout, the world might follow suit.
Stocks plunged again Thursday as more investors woke up to the possibility that economic problems such as Europe's debt crisis might spread around the world and stop the growing recovery in the U.S.
A group of Internet con artists masquerading as the Securities and Exchange Commission is swindling investors
As the Senate this week wades through scores of amendments to legislation on financial regulatory reform, lobbyists are going toe-to-toe over applying a fiduciary standard.
The regulators won't actually set compensation. Instead, they would review — and could veto — pay policies that could cause too much risk-taking by executives, traders or loan officers.
