In the wake of news about a spike in new applications for unemployment benefits comes another potentially troubling sign: A record number of workers made hardship withdrawals from their retirement accounts in the second quarter.
Wealthy pocket savings, research finds; stock market biggest factor in affluent's spending habits
In an apparent first for the retirement industry, John Hancock Retirement Plan Services is now offering 401(k) participants a choice between target date funds that plan for investments “to” retirement and “through” retirement.
Wilmington Trust Corp. reported a wider-than-expected second-quarter loss of $116 million, or $1.33 a share, thanks largely to souring construction loans that continue to plague the regional bank.
My colleagues in the business press lavish an extraordinary amount of space on the world's richest people,which is altogether fitting and proper, considering how much they can teach us about the important matters of life.
Citi Private Bank, the private-banking unit of Citigroup Inc., continues its aggressive recruiting from U.S. Trust and has now lured a total of 10 bankers from the Bank of America unit since the end of April.
U.S. Trust Corp., the private banking unit of Bank of America Corp., has hired five senior-level wealth management experts as part of the firm's bid to hire more than 200 advisers and bankers this year.
The second quarter opened up with high hopes and generally positive expectations for the remainder of the year.
Berkshire Hathaway Inc., the company run by billionaire Warren Buffett, may have to set aside $8 billion in collateral for derivatives under proposed changes to U.S. financial regulations, a Barclays Capital analyst said.
Defined-contribution plans are adding self-directed brokerage accounts as a way of giving participants more choices even as some plans reduce the number of core investment options.
The oldest baby boomers, many of whom are expecting to retire soon, will likely not have enough money to carry them through their twilight years.
A Kirkland financial planner who looted her clients' investment accounts was sentenced to six years and eight months in prison by a federal judge who praised her for cooperating after she got caught.
Fear of market gyrations taking hold among affluent young investors; is the 'conservatism' embedded?
Citi private bank testing site tarteting heirs of high-net worth clients; Spend Grow Give
The guru of federal retirement policy has high hopes for one of his yet-to-be-approved retirement creations: the automatic IRA.
What to do while waiting for the participant advice rule to be finalized.
Some top retirement gurus are in the process of developing proposals that could make annuity products a crucial part of millions of Americans' retirement plans.
Economists heralded FedEx Corp.'s decision to restore its matching contribution to employees' 401(k) plans as a sign that the recession is ending, but surveys show that less than half of the firms that reduced or suspended plan matches in recent years have restored them.
As Congress heads toward its summer recess, it looks unlikely that legislators will make progress any time soon on the estate tax. That leaves financial planners and their clients in the lurch.
