Fortress recorded a loss in the fourth quarter due to compensation-related expenses related to its IPO last February.
Mutual Service Corp. faces at least one arbitration claim for allegedly failing to supervise a mortgage broker whose practice collapsed last September under the weight of a nearly $30 million fraud.
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.
Even as the financial services industry scurries to provide advisers with better retirement income vehicles, advisers continue to criticize the new products.
Sales of existing homes increased by 2.9% in February to a seasonally adjusted rate of 5.03 million units, following six consecutive monthly declines.
With inflation expectations on the rise, now is a good time to consider what strategies you might implement for your retired clients to respond to a possible upturn in inflation.
The hunt for alternatives managers is greater than any other type of manager this year, according to a new survey of consultants' expected searches for 2008.
Despite the challenges faced by today's physicians — the soaring cost of malpractice insurance and declining insurance reimbursements are just two — doctors remain one of financial advisers' most sought-after niches
Not that we needed much confirmation, but the Federal Reserve Board's actions last week confirmed the seriousness of the financial crisis that was triggered by the bursting of the housing bubble.
With investor confidence in the global financial markets at a severe low point, driven even lower last week by the crumbling of Wall Street giant The Bear Stearns Cos. Inc., planners are facing the challenge of how to maintain clients' confidence in the midst of the credit turmoil.
With stock market volatility on the rise, the time is right for financial advisers to consider convertibles for a place in client portfolios.
For nearly a decade, Jon E. Drucker has been a thorn in the side of Ameriprise Financial Inc.
The dollar rose to 1.5341 per euro, the largest gain since March 12, and advanced to 100.04 yen per dollar in trading in Japan.
We are as suspicious of public markets as we are of public toilets.
Index managers are holding steady despite the market downturn, according to a biannual survey of managers of indexed assets by InvestmentNews' sister publication Pensions & Investments.
The index of leading indicators that gauges future business activity fell 0.3% in February, the fifth straight month of decline.
Firms with less than $500 million in assets under management have been most affected, said David DeVoe, senior director of mergers and acquisitions for Schwab Institutional in San Francisco.
W.P. Carey & Co. was accused of selling more than $235 million of an affiliated REIT's shares without a registration statement.
The firm reported first-quarter net income of $1.5 billion, compared with $2.7 billion in the year-ago period.
