Advisor News

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Pru will pay $17M to settle with seven states over death benefits
LIFE INSURANCE AND ANNUITIES APR 23, 2012
Pru will pay $17M to settle with seven states over death benefits

Prudential Financial Will pay $17 million to settle with seven states; regulators claim insurer used more comprehensive database for cutting off annuity payments than one used to locate those owed money.

By Bloomberg
Prudential settles with 20 states over unclaimed death benefits
REGULATION AND LEGISLATION APR 23, 2012
Prudential settles with 20 states over unclaimed death benefits

Agreement requires insurer to step up cross referencing to locate unpaid beneficiaries

By Darla Mercado
FINTECH APR 23, 2012
Cost basis on mutual fund assets updated in DTCC system

By Davis Janowski
RETIREMENT PLANNING APR 23, 2012
LTCI too pricey even for Uncle Sam as CLASS Act yanked

Executives at life insurance companies can breathe a sigh of relief now that the proposed federal long-term-care insurance program — the CLASS Act — has been killed

By Darla Mercado
FINTECH APR 22, 2012
Pinterest drawing interest from small-business owners

Ease of use a real selling point; trails only Facebook, Twitter in popularity

By LKUYKENDALL
INDEPENDENT BROKER DEALERS APR 22, 2012
LPL realigns management

By Bruce Kelly
INDEPENDENT BROKER DEALERS APR 22, 2012
Morgan Keegan ripped by DOL over kickbacks

By Darla Mercado
FINTECH APR 20, 2012
Hey B-D, NASD Rule 3010 audit management got you down?

By Davis Janowski
MUTUAL FUNDS APR 20, 2012
SEC beware, money funds can bring system down

Failure to reform money-market funds would be a mistake: Economist panel

By Doug Cubberley
Republicans 'cost-benefiting' Dodd-Frank into the ground
REGULATION AND LEGISLATION APR 20, 2012
Republicans 'cost-benefiting' Dodd-Frank into the ground

GOP relying more on financial analysis than legislation to slow industry reform

By Mark Schoeff Jr.
INDEPENDENT BROKER DEALERS APR 20, 2012
Regions Financial repays $3.5B U.S. taxpayer bailout

Company sold $900 million of stock and its Morgan Keegan brokerage for about $1.2 billion to help repay the bailout

By Doug Cubberley
LPL affiliate scooped up more than 140 new advisers in 2011
INDEPENDENT BROKER DEALERS APR 20, 2012
LPL affiliate scooped up more than 140 new advisers in 2011

Independent Financial Partners aims to push recruitment this year — and add $30 million in GDC

By Darla Mercado
LPL on a recruiting roll — but at a price
INDEPENDENT BROKER DEALERS APR 19, 2012
LPL on a recruiting roll — but at a price

Hiring expenses rose as indie B-D attracted 408 net new advisers in past year; 'elevating our expectation'

By Bruce Kelly
Historic Chapter 11 case could trigger wave of public-pension bankruptcies
RETIREMENT PLANNING APR 19, 2012
Historic Chapter 11 case could trigger wave of public-pension bankruptcies

Workers in Northern Mariana look to halt fund's filing for court protection; benefits could be slashed by more than half

By Darla Mercado
Behind the management shake-up at LPL
INDEPENDENT BROKER DEALERS APR 19, 2012
Behind the management shake-up at LPL

Mark Casady reveals reasons for recent changes at indie B-D

By Bruce Kelly
Citi willing to unload rest of Smith Barney stake: Analyst
WIREHOUSES APR 19, 2012
Citi willing to unload rest of Smith Barney stake: Analyst

Bank interested in selling remaining 35% share of brokerage to MSSB -- if the price is right

By John Goff
OPINION APR 19, 2012
Tuning up implementation of modern portfolio theory

The problem isn't with MPT but with the way it has been implemented

By Scott A. MacKillop
REGULATION AND LEGISLATION APR 18, 2012
Hall of Fame coach faked out players in $80 million Ponzi scheme: SEC

Donnan and partner convinced coaches, ex-players to invest in merchandise scheme, commission claims; worked as college football analyst for ESPN

By Liz Skinner
Wells Fargo's buy of Merlin spells entry into prime brokerage biz
WIREHOUSES APR 18, 2012
Wells Fargo's buy of Merlin spells entry into prime brokerage biz

Purchase will boost bank's clearing and record-keeping capabilities

By John Goff
FINTECH APR 18, 2012
Schwab announces availability of key technology platform components for RIAs

By Davis Janowski