Ameriprise earnings jump on popularity of proprietary funds
Despite a tough stock market and a $3 million bond write-off, Ameriprise Financial Inc. managed to increase its earnings substantially last quarter — thanks in part to sales of proprietary products.
Some advisers are buying stocks despite rockiness of the market
Many financial advisers are in a mood to buy stocks despite the drubbing their portfolios have taken in the first few trading sessions of 2008.
People
Curian Capital LLC, a Denver-based provider of separately managed account platforms, has promoted Greg Verfaillie to senior vice president and national sales manager.
Clearing firms used by the top independent broker-dealers
Top clearing and custody firms for financial advisers used by the top independent broker-dealers Click…
Lewis bullish on Bear Stearns stake
Billionaire Joseph Lewis has raised his stake in Bear Stearns to 8.01%, according to a filing with the SEC.
SEC probes info sharing in hedge funds
The regulator is investigating whether financial entities are investing in hedge funds in order to share inside information.
Bear hid dire state of funds, say investors
Investors in Bear Stearns' two collapsed hedge funds have filed arbitration claims against firm, according to Reuters.
Thain to nab $2.6 million in Merrill stock
Merrill's new CEO will receive 46,304 shares of restricted stock that will vest over the next three years.
Millionaires, merely affluent lose faith
The Spectrem Millionaire Investor Index fell 11 points in November to a reading of 3.
Fixed-income annuities gain clout among advisers
More advisers are turning toward fixed-income annuities as a new asset when they create retirement plans for their baby boomer clients.
New Form 5500 implementation eats time and money
The unveiling of the revised Internal Revenue Service Form 5500 comes with both relief and trepidation.
Morgan Stanley changes pay policies
Morgan Stanley is adjusting some of its pay policies to comply with a wage-and-hour lawsuit it settled last year.
Raymond James researches VA riders
Raymond James Financial Inc. of St. Petersburg, Fla., last month rolled out a series of research reports on variable annuity riders designed to help its reps sort through the confusing array of products.
Building retirement income confidence
Many of the retirement income solutions currently being developed by financial services companies involve software — most of which is designed to model financial outcomes once someone has retired.
No noticeable rise in diversity of securities industry
The securities industry work force is not noticeably more diverse today than it was two years ago, even as the nation's largest investment firms strive to hire more women and minorities, according to a new survey.
SEC scrutinizes firms’ use of ‘off the shelf’ compliance
Advisers who purchase “off the shelf” compliance programs to meet more-rigorous regulatory requirements must be careful to tailor…
Bear funds starting to roar
Bear market mutual funds have come out of hibernation. For the 30 days through last Monday — the day major stock market indexes ended 10% down from their October peaks, signaling a market correction — the bear fund category had risen 11.27%, according to Morningstar Inc. of Chicago.
Fitness and friends bigger concerns than money, survey finds
Crude-oil prices may be skyrocketing, the dollar plummeting and housing sinking, but money matters will be of great importance to only 17% of Americans when they make their New Year's resolutions for 2008, according to a survey conducted by Country Insurance and Financial Services of Bloomington, Ill.
Mack axes potential successor
Morgan Stanley co-president Zoe Cruz is the latest casualty of the mortgage crisis, leaving after 25 years at the firm.
Merrill chief said to eye Euronext exec
John Thain may bring aboard Nelson Chai of NYSE Euronext as he takes the helm at Merrill, The Wall Street Journal reported.
