Advisor News

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RETIREMENT PLANNING MAR 26, 2009
New tab for retirement health care: $240,000

The cost of health care in retirement has risen 50% since 2002, according to research released today by Fidelity Investments.

By Bloomberg
REGULATION AND LEGISLATION MAR 26, 2009
Geithner unveils financial system overhaul

The Obama administration today unveiled a sweeping overhaul of the financial system designed to impose greater regulation on major players like hedge funds.

By Bloomberg
RETIREMENT PLANNING MAR 25, 2009
Mercer to offer DC admin services direct to advisers

Mercer LLC announced today that it will offer its defined contribution plan administration services directly to financial advisers after ending an exclusive relationship with Putnam Investments of Boston.

By Bloomberg
RETIREMENT PLANNING MAR 25, 2009
Bosses, workers starve DC plans

Thirty-four percent of U.S. employers have reduced or eliminated matching contributions in their defined contribution plans in 2008, and 29% of employers plan to do so in the next 12 months, according to a study released today.

By Bloomberg
RETIREMENT PLANNING MAR 25, 2009
Putnam stakes claim in 401(k) market

Putnam Investments of Boston today launched a new defined contribution platform for advisers and clients, signaling its expansion into the 401(k) market.

By Bloomberg
RETIREMENT PLANNING MAR 24, 2009
Alzheimer's patient costs 3X those of other seniors

Health care costs of Alzheimer's disease are at least $33,007 annually per patient, compared with $10,603 for an older person without Alzheimer's, according to a report issued Tuesday by the Alzheimer's Association.

By Bloomberg
REGULATION AND LEGISLATION MAR 24, 2009
Fed and Treasury chief to get grilled on AIG

The Federal Reserve's chairman and the secretary of the treasury are making a rare joint appearance at a congressional hearing, to take a scolding over AIG.

By Bloomberg
RETIREMENT PLANNING MAR 24, 2009
House wrestles with adviser conflicts of interest issues

Only advisers who are independent of mutual funds, brokerage firms, insurance companies and other entities that sell financial products could give advice on individual retirement accounts if House Health, Employment, Labor and Pensions Subcommittee Chairman Rob Andrews, D-N.J., has his way.

By Bloomberg
RETIREMENT PLANNING MAR 23, 2009
Chamber of Commerce: No to auto-retirement plans

The U.S. Chamber of Commerce, the nation’s largest employer advocacy group, has made it clear where it stands on President Obama’s proposal to create automatic retirement plans in every workplace: nice try, but no thanks.

By Bloomberg
REGULATION AND LEGISLATION MAR 23, 2009
Administration seeks to free frozen credit markets

The Obama administration launched a new effort Monday to end a paralysis in lending, saying it will team with investors to sop up a half-trillion dollars of bad assets from banks that have been reluctant to make loans to consumers and companies.

By Bloomberg
OPINION MAR 22, 2009
SEC should modify plan to contact clients

The Securities and Exchange Commission's move to expand its examinations of advisory firms to include going directly to clients for verification of their assets managed by advisers raises legitimate concerns.

By MFXFeeder
OPINION MAR 20, 2009
Markets offer younger investors a great opportunity

By Bloomberg
REGULATION AND LEGISLATION MAR 20, 2009
State securities cops seek fed money to combat fraud

Arguing that they can do more than federal agencies with less, state securities regulators today asked Congress to consider giving federal grants to state securities divisions.

By Bloomberg
REGULATION AND LEGISLATION MAR 20, 2009
AG coalition going after AIG bonuses

New Jersey Attorney General Anne Milgram said yesterday that her office is spearheading an investigation into the bonuses paid to workers’ at American International Group Inc.’s financial-products unit.

By Bloomberg
REGULATION AND LEGISLATION MAR 20, 2009
Lawmakers consider tighter rules for credit card companies

A bill has been introduced in the House that would impose stricter rules on how credit card companies set interest rates and charge fees to consumers.

By Bloomberg
FINTECH MAR 20, 2009
Internet Explorer 8; ING releases web offering

Internet Explorer 8 is unveiled and ING launches online comparison tool designed for retirement planning.

By Bloomberg
REGULATION AND LEGISLATION MAR 18, 2009
Lawmakers seek taxes on pay for TARP receivers

Companies receiving taxpayer funds under the Troubled Asset Relief Program would be subject to major taxes on executive bonuses under a proposal unveiled Tuesday.

By Bloomberg
RETIREMENT PLANNING MAR 18, 2009
Retirement assets plunged 25% in '08

The nation's retirement assets shrank by nearly 25% last year and lost more than $2.4 trillion in market value, according to a new report from Chicago-based Spectrem Group.

By Bloomberg
LIFE INSURANCE AND ANNUITIES MAR 17, 2009
Sen. Grassley to AIG execs: Quit or commit suicide

Iowa Sen. Charles Grassley suggested that AIG executives should accept responsibility for the collapse of the insurance giant by resigning or killing themselves.

By Bloomberg
RETIREMENT PLANNING MAR 17, 2009
60% of DC plans unchanged since crisis began

Three of five DC plans have not changed in regard to employee participation and corporate matching contributions despite the recent financial crisis.

By Bloomberg