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.
Spending inches up, construction down
The price index for personal consumption expenditures increased 0.3% for the second consecutive month in October.
Morgan Stanley to change pay policies
The firm will change its pay policies to comply with a wage-and-hour lawsuit the firm settled last year.
White House backpedals growth forecast
The White House toned down its forecast for economic growth for 2008, but still predicted "solid growth" throughout the year.
Putnam announces CIO departure
Josh Brooks, chief investment officer for large-cap equities at Putnam Investments, is leaving the firm.
Sigma CCO charged with child molestation
Michael John Brooks is charged with four counts of second degree criminal sexual misconduct.
New fund investing in infrastructure
Kensington Investment Group Inc. in Orinda, Calif., makes a strong case for being uniquely suited to manage the first open-end mutual fund focused on the development and reinforcement of a worldwide infrastructure.
Advisers rethink estate planning
With no permanent repeal of the estate tax in sight, advisers are appeasing worried clients by putting new twists on old estate-planning tools.
Aiming to solve the puzzle of active ETFs
Bringing to market actively managed exchange traded funds has proved to be an elusive goal, but at least six managers think that they have the secret formula to make these vehicles work.
New opportunities for infrastructure investors
Renewed government confidence in privatization and a robust secondary market could create new homes for committed capital waiting to be invested in infrastructure, according to a study by Ernst & Young LLP.
Community Leadership Awards
Ken Clark, Barry Glassman, Gerry Strid and Arnerich Massena & Associates Inc. were named winners of the 2007 Community Leadership Awards, which were presented by the Invest in Others Charitable Foundation and InvestmentNews, late last month in New York.
Toronto bank to buy Commerce Bancorp
TD Bank Financial Group of Toronto will acquire Commerce Bancorp Inc. for $8.5 billion in an effort to expand its presence in the United States.
