Consumer sentiment rose more than expected in August and expectations hit the highest level since the recession began, indications that Americans' pessimism about the economy may be lifting.
White House officials project lingering high unemployment in the short term and a massive 10-year federal deficit of $9 trillion that feeds a ballooning national debt.
Though rep recruitment is up at the John Hancock Financial Network since the firm decided to embrace the independent adviser channel, recruiters remain skeptical as to whether independents will continue to flock to the company.
A federal judge in Chicago last week threw out a $1 billion lawsuit that accused AIG of committing fraud against insurance carriers in a workers' compensation pool.
Total individual-annuity sales tumbled during the second quarter as carriers' new business slowed and fixed-annuity interest rates fell, although sales for all fixed annuities fared better, according to data from LIMRA.
The U.S. government must continue its efforts to crack Switzerland's bank secrecy walls. Those barriers have helped perhaps hundreds of thousands of wealthy Americans shield at least some of their income from the Internal Revenue Service.
A new life insurance product from The Phoenix Cos. Inc. covers two lives under one policy, providing a death benefit for a spouse or business partner.
The declining value of fixed-income portfolios in a climate of rising interest rates will hinder life insurers' performance over the next two years.
Although members of the insurance industry and some broker-dealer executives are butting heads with state regulators on tougher annuity regulation, financial advisers cheered the proposed use of Finra-esque suitability layers for all annuity sales.
Finra has expelled an investment firm in Southfield, Mich., for inappropriate practices that occurred in its retail foreign-currency business and repeated violations of registration and related rules, according to a statement.
Finra isn't backing down from its position that it has jurisdiction over broker-dealers' financial planning activities.
In the wake of a decision last month by LPL to bring in-house the clearing function at three subsidiary broker-dealers, about 200 financial advisers at those firms have moved to other firms or are planning to do so.
Legitimate offshore banking by wealthy Americans may be the next casualty of the UBS AG tax evasion case.
Denver Nuggets basketball star Carmelo Anthony filed a lawsuit in federal court last week alleging that his former financial and business adviser transferred more than $2 million from his accounts without his knowledge or consent.
Independent broker-dealer Securities America Inc. has announced that USAdvisors Network LLC of Eden Prairie, Minn., has signed an agreement for its affiliated advisers and institutions to join the La Vista, Neb.-based firm.
Another team of registered representatives who work with wealthy clients has turned its back on Wall Street to become independent registered investment advisers.
American International Group Inc. yesterday dismissed as “without merit” a lawsuit filed by two investors who claim the insurer should have covered the losses they suffered because they invested with Bernard L. Madoff.
Henry Waxman, chairman of the House Committee on Energy and Commerce, is asking executives at Genworth Financial Inc., The Guardian Life Insurance Company of America and MetLife Inc. to produce details on executives' pay.
A securities arbitration claim of $5 million has been filed against Merrill Lynch by a Freeport, Bahamas couple who say the preferred financial company stocks the company sold them were unsuitable, according to the law firm representing the couple.
American International Group Inc. has named Jay S. Wintrob president and chief executive of its Domestic Life and Retirement Services business.
