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INDUSTRY NEWS AUG 13, 2008
U.S. trade gap narrows

In an unexpected move, the nation's trade imbalance in June fell to $56.8 billion, a 4.1% decline.

By Bloomberg
LIFE INSURANCE AND ANNUITIES AUG 13, 2008
Alabama insurance commish to step down

Walter A. Bell, Alabama’s insurance commissioner, announced that he will step down at the end of the month.

By Bloomberg
LIFE INSURANCE AND ANNUITIES AUG 13, 2008
Conseco to turn LTC unit into indie trust

Conseco said that it plans to transfer Conseco Senior Health Insurance, its long-term care unit, to an independent trust.

By Bloomberg
INDUSTRY NEWS AUG 13, 2008
Retail sales dip to five-month low

July retail sales dipped 0.1% after rising 0.3% in June, with the drop attributed to a 2.4% decline in the automotive industry.

By Bloomberg
INDUSTRY NEWS AUG 13, 2008
ING profits dive in second quarter

ING Groep recorded a 25% decline in profits as it dealt with weak financial markets and write-downs from subprime mortgages.

By Bloomberg
RETIREMENT PLANNING AUG 13, 2008
Despite turbulence, workers stick with plans

The amount of money that employees paid in to their defined contribution plans in the first half of 2008 increased.

By Bloomberg
INDUSTRY NEWS AUG 12, 2008
UBS takes earnings hit, separates units

The bank will separate its investment banking, global asset management and wealth management units.

By Bloomberg
INDUSTRY NEWS AUG 12, 2008
RJ probed on auction rate securities

Raymond James' two primary broker-dealers are being scrutinized over ARS sales.

By Bloomberg
INDUSTRY NEWS AUG 12, 2008
Morgan Stanley to buy back ARS

The repurchase program will begin sometime before Sept. 30 and involve $4.5 billion of auction rate securities.

By Bloomberg
INDUSTRY NEWS AUG 12, 2008
Finra creates ARS arbitration process

Qualifying investors will have the option of getting their claims heard by a three-person panel of arbitrators.

By Bloomberg
RETIREMENT PLANNING AUG 12, 2008
Strapped Americans scrimping on insurance

Many are cutting back on medical care to cope with rising costs and a worsening economy, according to NAIC.

By Bloomberg
INDUSTRY NEWS AUG 12, 2008
LPL hikes transfer and termination fees

LPL Financial will increase its outgoing account transfer fees for retail accounts and termination fees by $20.

By Bloomberg
RIAS AUG 12, 2008
Placemark and United create platform

Placemark Investments new United Capital relationship is its second significant deal in the RIA space.

By Bloomberg
REGULATION AND LEGISLATION AUG 12, 2008
Finra panel awards two brokers $1.2 million

Banc of America Investment Services allegedly sullied brokers' reputations, damaged potential relationships with clients.

By Bloomberg
OPINION AUG 11, 2008
First, do no intentional harm

Providing financial advice is similar to providing medical advice in that there is inherent uncertainty about whether recommended actions will achieve the desired results.

By Bloomberg
LIFE INSURANCE AND ANNUITIES AUG 11, 2008
Lieberman named CEO of Hartford Life Ltd.

The Hartford Financial Services Inc. today appointed Marc Lieberman president and chief executive of Hartford Life.

By Bloomberg
INDUSTRY NEWS AUG 11, 2008
Investors go for gold in garbage

One person's trash is another's alpha.

By Bloomberg
LIFE INSURANCE AND ANNUITIES AUG 11, 2008
Berkshire slumps, MBIA back in black

Berkshire Hathaway reported net earnings declined to $2.88 billion from $3.12 billion a year ago.

By Bloomberg
OPINION AUG 11, 2008
Keeping an eye on cash flow

Advisers have a fiduciary responsibility to educate their clients that generating enough cash to fund lifetime goals and objectives adequately is the key to financial success

By Brett Wilder
INDUSTRY NEWS AUG 11, 2008
Take a closer look at clients' art collections

Financial advisers need to pay more attention to their clients' art collections, according to experts who are trying to bring the art and financial worlds closer together.

By Bloomberg