Obama says extending tax cuts to rich is ‘irresponsible’
President Barack Obama said it would be “irresponsible” for Congress to extend tax cuts for the wealthiest Americans and voiced support for Treasury Secretary Tim Geithner and National Economic Council Chairman Lawrence Summers.
Wealth firm chief says law firm botched pre-nup, shortchanging him on modern art collection
A prominent St. Louis wealth manager is suing a leading local law firm over a pre-nuptial agreement involving Jackson Pollock and Jasper Johns paintings, according to a report in the St. Louis Business Journal.
Real estate money managers stanch the bleeding
Real estate money managers are still losing assets, but the outflows look to be slowing from the massive hemorrhage of 2008-09.
Dreman Value Management cuts 20% of staff
David Dreman, an iconoclastic value fund manager, has eliminated a significant portion of his staff at his investment management firm as it looks to reduce costs, an executive confirmed today.
Dealer to admit he snookered art investors, including John McEnroe and De Niro estate, in $100M scam
The tennis great, as well as the estate of actor Robert De Niro's father lost millions in the scam, according to one attorney
Goldman tie-up with Incapital broadens its muni distribution
Arrangement puts underwriter on retail par with other major firms
Helping to climb a mountain of poverty
Seven years ago, children living in the isolated Honduran mountain village of Guyamitas were forced to eat grass and leaves to survive.
Clay Finlay to shut down
Clay Finlay, an international equity boutique, will be wound down over the coming months, and its $1.8 billion of assets will be returned to clients, said Thomas M. Turpin, president and CEO of the firm’s parent company, Old Mutual Asset Management.
No profit in talking politics with clients
For many advisers, politics ranks right up there with sex and religion as a topic to avoid when talking with clients.
R.I. showering babies with cash for their 529s
The state will deposit $100 in a 529 account for any baby born after July 1, to encourage families to start saving for college.
A flight to safety
Stock market volatility has caused some advisers to shy away from the sexiest life insurance policies — variable universal life and variable life — and to steer clients to a tamer cousin, universal life.
N.Y. advisers in limbo because state doesn’t do exams
The Dodd-Frank regulatory-reform law aims to reduce the SEC's examination responsibilities by shifting some 4,000 investment advisers to state registration, but New York state may gum up the law's intent.
Tea Party may hold key to second-half market rally
Growing dissatisfaction among conservatives and independents with President Barack Obama before this year's midterm elections is good news for stock investors if history is any guide.
Morningstar to rate Section 529 plans
In a first, the fund tracker will rate college-savings plans based on performance and fees.
Barclays’ notes target retirement income market
In a move into the retirement income market, Barclays Bank PLC on Sept. 1 will launch two structured-note products designed to provide income over 15- to 30-year time spans.
Raymond James’ Jeffrey Saut: The call of the week
The call for this week: When I entered this business, some 40 years ago, one of my mentors told me to put 20% of my money into Treasury Bills, 20% into stocks, 20% into bonds, 20% into precious metals, and 20% into real estate.
From the best seat in the house to the big house: Ponzi artist to plead guity
Shapiro to cop to $880M fraud; used illegal gains to, among other things, purchase floor seats at Miama Heat games
Incite: Regulators need babes, bucks, and a share of the spoils
Forget new regulations -- just dangle a bigger bone in front of Wall Street watchdogs
Despite tough economy, advisers are still giving
As soon as he heard that 13-year-old Margaret Hurt was in danger of losing the horse she had been riding since becoming sick with leukemia two years ago, Preston Byers agreed to donate $6,000 to help her buy Hoochie.
Moving target: Sky-high turnover in Putnam’s TDFs
Data shows an 83% flip rate over past three years; firm cites revamp of Retirement Ready line
