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INDUSTRY NEWS DEC 13, 2007
Federal budget 'unsustainable' says CBO

The United States is operating on an unsustainable federal budget that is bound to seriously damage the economy, the Congressional Budget Office said.

By Bloomberg
INDUSTRY NEWS DEC 13, 2007
Fidelity launches college philanthopy program

The Fidelity Charitable Gift Fund will launch a program with Campus Compact to educate and inspire young people to get involved in philanthropy.

By Bloomberg
REGULATION AND LEGISLATION DEC 12, 2007
Arbitration bill to cover securities contracts

Legislation "is intended to cover disputes between investors and securities brokers,” Sen. Feingold said.

By Bloomberg
REGULATION AND LEGISLATION DEC 12, 2007
Cox gives companies SOX reprieve

The SEC wants to give smaller companies more time to comply with section 404, Chairman Christopher Cox said this morning.

By Bloomberg
RIAS DEC 12, 2007
Fidelity to benefit breakaway brokers

Under the program, RIAs working with Fidelity will have access to affordable medical, dental and vision insurance.

By Bloomberg
FINTECH DEC 12, 2007
The Hartford buys tech firm

The Hartford announced plans today to acquire TopNoggin, a technology firm based in Powell, Ohio.

By Bloomberg
RETIREMENT PLANNING DEC 11, 2007
IRAs outshine defined contribution plans

Assets in individual retirement accounts grew 16.5% in 2006 to a record $4.23 trillion, according to EBRI.

By Bloomberg
LIFE INSURANCE AND ANNUITIES DEC 11, 2007
LIFE Foundation names new leader

The Life and Health Insurance Foundation for Education yesterday chose Marvin H. Feldman as the group’s president and CEO.

By Bloomberg
LIFE INSURANCE AND ANNUITIES DEC 11, 2007
Metlife opens deferred-income annuity sale

MetLife will now distribute its retail-deferred income annuity through the carrier’s independent distribution arm.

By Bloomberg
TAX DEC 11, 2007
H&R Block to post $500 million loss

The tax preparer's second quarter saw the shuttering of its troubled Option One Mortgage business.

By Bloomberg
LIFE INSURANCE AND ANNUITIES DEC 10, 2007
The Hartford reports high-flying year

The insurance firm forecast core per-diluted-share earnings in the $9.80 to $10.20 range.

By Bloomberg
INDUSTRY NEWS DEC 10, 2007
SIMFA predicts slow economic growth

The U.S. economy will grow a sluggish 2.1% in 2008 according to the SIFMA's Economic Advisory Roundtable.

By Bloomberg
INDUSTRY NEWS DEC 10, 2007
Despite returns, advisers bullish on managed futures

The performance of managed futures is languishing, but that hasn't diminished their appeal among financial advisers.

By Bloomberg
BROKER DEALERS DEC 10, 2007
Ameriprise unit loses top rep to First Allied

As Securities America Inc. deals with the sting of losing one of its biggest advisers, the independent broker-dealer continues to tighten its compliance practices and procedures.

By Bloomberg
INDUSTRY NEWS DEC 10, 2007
Bacon pays sizzling $175 million for ranch

Maybe the housing market isn't tanking after all. Hedge fund manager Louis Bacon, head of New York-based Moore Capital Management LLC, last month bought the Forbes family's Colorado ranch for what is believed to be the largest sum ever paid for a home purchase in the United States: $175 million.

By Bloomberg
WIREHOUSES DEC 10, 2007
UBS, 2 reps hit with rare award on punitive damages

A stunning $4.6 million award against UBS Financial Services Inc. and two of its brokers late last month revealed how irate the arbitrators were with UBS.

By Bloomberg
INDUSTRY NEWS DEC 10, 2007
Upper crust seeks advice before donating

Very wealthy or entrepreneurial investors seek advice before they decide to donate to charity.

By Bloomberg
OPINION DEC 10, 2007
Let's put a freeze on mortgage rate resets

The prospect of 2 million homeowners seeing their mortgage rates jump over the next two years as adjustable-rate mortgages reset, possibly triggering hundreds of thousands of foreclosures, has forced the government, lenders and the mortgage-servicing companies to focus on the problem.

By Investment News Team
INDUSTRY NEWS DEC 10, 2007
More children seen vulnerable to 'kiddie tax'

More children could be trapped by the dreaded "kiddie tax" this year.

By Bloomberg
INDUSTRY NEWS DEC 10, 2007
True wealth realized by pursuing passions

Building wealth beyond dollars for clients is more challenging and gratifying than peppering their holdings with the latest hot stock pick or designing a soundly diversified portfolio.

By Bloomberg