Advisers tell me that broker-dealers are not created equal when it comes to technology support.
Regional and independent brokers such as LPL Financial, D.A. Davidson & Co., Raymond James Financial Inc. and Stifel Financial Corp. are thriving while brawnier brokers struggle, but the firms' executives have deep concerns even as they rev up their recruiting.
The world’s second-largest insurance broker, Aon Corp., saw its net income decrease 43% to $117 million, or $0.40 per share, in the third quarter, compared with $204 million, or $0.64 per share, in the year-earlier period.
Confidence among U.S. consumers declined sharply in October as Americans continued to grow more pessimistic about the prospects for the economy.
The stock price of The Hartford (Conn.) Financial Services Group Inc. dipped by more than half yesterday, following the company’s release of dismal third-quarter results.
The Chicago-based firm’s third-quarter net income was up 12% to $22.2 million, or 45 cents per share, compared with $19.9 million, or 41 cents per share, in the year-ago period.
Consumer spending declined 0.3% in September in yet another sign that the economic slump is battering consumers, according to the Department of Commerce.
Japan has responded to the global credit crunch today by announcing a 26.8 trillion yen ($275 billion) stimulus package that is designed to assist homeowners and businesses, according to published reports.
The Hartford (Conn.) Financial Services Group Inc. today reported a third-quarter net loss of $2.6 billion, or $8.74 per diluted share.
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.
Finra has fined independent broker-dealer J.P. Turner $250,000 for failing to employ an adequate supervisory system to ensure that its registered representatives charged customers "fair and reasonable" commissions on stock trades.
Not only are investors greatly confused about annuities, but they are also greatly biased against them, according to a new study from LIMRA International.
Legg Mason Inc. and Lazard Ltd. both posted third-quarter losses today, while ratings giant Moody’s Investors Service saw profits drop.
MFS Investment Management of Boston announced today the formation of a business development office for the defined contribution investment only market.
Consumer confidence hit a record low this month, as the credit crisis darkened Americans’ outlook on the economy and the job market.
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.
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.
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.
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.
