Financial advisers and clients can be their own worst enemies when drafting plans for retirement income, making common — but crucial — errors that can ruin distribution plans, according to an influential academic.
AIG has filed suit against ex-chief executive Maurice Greenberg and six other former directors and executives, accusing them of breaching fiduciary duty,
Philly Fed president Charles Plosser was one of two voting members of the FOMC to oppose last week's cut in the Fed Funds rate.
MetLife is bringing in its deferred income annuity as an asset allocation option in a defined contribution plan.
U.S. consumption edged up by a scant $12 billion, a gain of only 0.1%.
March's reading of the Reuters/University of Michigan Index of Consumer Sentiment was the worst since 1992.
The London hedge fund manager projects net management fee income to grow 15% from the year-ago period.
The firm reported that its operating earnings jumped 17% to a record level of $1.28 billion for 2007.
A "patchwork of regulators" are "unable or unwilling" to protect the American people, said Sen. Barack Obama.
The U.S. economy grew at 0.6% annual rate in the first quarter, marking the slowest quarter since 2002.
The bill is expected to pass the House by summer, but will not make it through the Senate, lawyer James Delaplane said.
Most advisers are clueless about important tax rules that impact individual retirement accounts, CPA Ed Slott said.
Orders for durable goods were down 1.7% last month, after a 5.1% drop in January, according to the Department of Commerce.
The U.S. consumer confidence dropped again in March falling to the lowest figure seen since March 2003.
Residential real estate prices fell precipitously in most metro areas, according to the S&P/Case-Shiller Home Price Index.
Annuities are from Principal Financial Group, Symetra Life Insurance and firms affiliated with MetLife Investors.
Aflac's directors have released a proxy statement inviting its shareholders to vote on performance-based compensation.
Fortress recorded a loss in the fourth quarter due to compensation-related expenses related to its IPO last February.
Even as the financial services industry scurries to provide advisers with better retirement income vehicles, advisers continue to criticize the new products.
Nouriel Roubini, one of the biggest bears on Wall Street, wasn't surprised by the fire sale at The Bear Stearns Cos Inc. of New York. He said it just reinforces his 12-point gloom-and-doom outlook, which he unleashed on Wall Street in February, and he now thinks that total financial losses in the credit debacle may top the $1 trillion he previously projected.
