Legg Mason Inc. and Lazard Ltd. both posted third-quarter losses today, while ratings giant Moody’s Investors Service saw profits drop.
Aetna Inc., the Hartford, Conn.-based health insurer, announced today that its third-quarter profit dropped to $277.3 million, or 58 cents per share.
To survive the credit crunch and regain consumer confidence, insurers must strip away the fancy features from their products, said Quincy Krosby, chief investment strategist at The Hartford (Conn.) Financial Services Group Inc.
Consumer confidence hit a record low this month, as the credit crisis darkened Americans’ outlook on the economy and the job market.
MFS Investment Management of Boston announced today the formation of a business development office for the defined contribution investment only market.
The finance ministers from the Group of Seven industrialized nations today issued an emergency statement that warned against the surging value of the Japanese yen.
Insurance executives highlighted the income benefits behind some new annuity solutions and guarantee wrappers, but the costs behind these products may rise in light of a careening market.
Amid bad news in the financial sector, life insurance executives were urged to fight for clients’ trust in their industry and products at the research organization’s annual meeting in Hollywood, Fla.
With the economy in the throes of a financial crisis, financial advisers have found a silver lining in recent declines in crude-oil prices, but many are still skeptical about jumping into the energy market right away.
The financial markets' continuing woes are driving some financial advisers to rethink the notion of buying and holding for the long term, opting instead for strategies that look a lot like market timing.
Congress is likely to debate another economic-stimulus package soon after it returns to Washington from campaigning for the election, unless the economy shows signs of turning around.
Some longtime bearish market gurus have turned bullish.
Charles Schwab & Co. Inc., the pioneer of discount brokerage and the first broker to focus a business unit solely on independent investment advisers, appears to have proved once again that it pays to be first.
LPL Financial plans a spirited defense against claims that it was negligent in its supervision of a rogue broker who allegedly stole $5 million from at least 40 victims, many from his church in Phoenix.
Registered investment advisers who are frustrated with getting a blank stare when they tell potential clients that they are independent and not a broker-dealer, are being asked to unite around a new branding campaign called OneVoiceRIA.
When Dr. Debra Zelinsky decided to buy an office condo in the Chicago area to expand her flourishing neural-optometry practice early this year, she faced a dilemma.
The government rescue plan inevitably will produce many villains.
Great Britain’s second largest life insurer, Prudential PLC, is considering buying some of American International Group Inc.’s business units.
More than 50 letters that contained threats and an unidentified white powder have been mailed to U.S. financial institutions and government offices.
The Treasury Department wants insurance companies to participate in its $700 billion bailout program —and it may take equity stakes in return.
