The Hartford Financial Services Group Inc. has introduced a variable annuity that allows clients to allocate dollars into a built-in income component.
Patricia Cornwell, the author of several best-selling crime novels, is going after her financial advisers in an attempt to recover $40 million she has lost, according to multiple published reports.
Members of the insurance industry are applauding an amendment to the Consumer Financial Protection Agency Act of 2009 that eliminates a section that would have given the agency oversight of some insurance products.
Richard Ketchum, the chairman and chief executive of the Financial Industry Regulatory Authority Inc., told a gathering of brokerage firm executives that his group will be more aggressive about investigating the advisory activities of their brokers — regardless of whether it <a href= http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090517/REG/305179968&ht=SRO>gets full regulatory authority </a> to oversee investment advisers.
Ameriprise Financial Services Inc. has reached a $200,000 settlement with the state of Massachusetts, resolving accusations that several of its reps employed unfair sales practices when working with clients.
A New York billionaire jailed for soliciting underage prostitutes in Florida has settled four out of 18 abuse lawsuits by young women.
A government index shows U.S. home prices dipped slightly in August from the previous month, but remained above a low point reached in May.
State Investment Officer Gary Bland has resigned amid a federal investigation into state investment deals and pressure to remove him by several members of the State Investment Council.
Mutual fund manager Ameriprise Financial Inc. on Wednesday reported a third-quarter profit, reversing a year-ago loss, as sales grew.
The House Financial Services Committee voted Thursday to create a federal agency devoted to protecting U.S. consumers from predatory lending, abusive overdraft fees and unfair rate hikes.
Shares of Ameriprise Financial Inc. surged to a new year high Thursday after the financial services company posted a third-quarter profit that beat Wall Street's expectations, prompting an analyst to upgrade the stock.
A member of the House Financial Services Committee next week plans to propose an amendment to financial service legislation that would require that a study be done on the regulation and oversight of financial planning.
Many of the stock market indicators are suggesting caution, but investors now have to consider the “new normal” before jumping in or retreating, according to Jeffrey Beamer, manager of the Lacerte Guardian Fund (LGFIX) for Lacerte Capital Advisers LLC.
Morgan Stanley Smith Barney saw its total broker head count decline slightly in the third quarter — but their combined clients' assets managed to increase significantly during the three-month period, according to the earnings announcement the brokerage made today.
Matthew Weitzman, a former principal of AFW Asset Management Inc., was sentenced to 97 months in prison after he pleaded guilty last year to stealing from the firm's clients.
Fears abound about the potential for change in the regulatory and compliance arena.
Two former Nebraska City brokers say they shouldn't be prosecuted for securities fraud because the investors who lost more than $20 million acknowledged the risks in writing, but prosecutors said Monday the records don't tell the full story.
Based on a draft amendment of the Investors Protection Act that was distributed today by the House Financial Services Committee to select members of the financial services industry, the duty of care applied to both brokers and financial advisers would be at least as high as the standards that the SEC applies to investment advisers.
Construction of new homes edged up slightly in September, helped by a rebound in single-family construction. However, in a worrisome sign for future housing work, applications for building permits fell by the largest amount in five months.
