When fee-only financial adviser Martha Schilling discovered that an elderly client needed to augment an old long-term-care insurance policy, she was shocked to find that the client's carrier is teetering on the brink of insolvency.
Many firms, including Pimco, Russell Investments and John Hancock, are planning or discussing the addition of guarantees to their mutual funds to provide scared investors with a floor on their investments, but advisers are skeptical about such promises.
After a year in which many investors lost substantial chunks of their wealth, mass affluent individuals are ditching their full-service brokers in favor of independent financial planners at a significant clip, according to a report released today.
There will be no cost of living increase for more than 50 million Social Security recipients next year, the first year without a raise since automatic adjustments were adopted in 1975, the government announced Thursday.
Contribution limits for 401(k) plans will remain unchanged next year, the Internal Revenue Service announced today.
Conseco Inc. said Friday that a subsidiary has reached a reinsurance agreement with Wilton Reassurance Co. covering about 237,000 life insurance policies.
Financial advisers who have sold certain types of retirement and other benefit plans to small businesses might soon be facing a wave of lawsuits — unless Congress decides to take action soon.
A federal jury in Minnesota has ruled that Allianz Life Insurance Company of North America used deceptive materials to market its two-tiered equity-indexed annuities, but declined to assess damages against the company, saying the plaintiffs suffered no harm.
Insurer American International Group Inc. said late Monday it has agreed to sell its nearly 98 percent stake in Taiwan unit Nan Shan to an investor group led by Hong Kong's Primus Financial for about $2.15 billion.
Consumer advocates today railed against a proposal that would change the way insurance regulators assess the amount of capital carriers hold against residential-mortgage-backed securities.
Invest Financial Corp. said today that it has hired Steve H. Dowden as president and chief executive, succeeding Lynn Niedermeier.
The pending rule changes around Roth IRA conversions present a huge business opportunity for financial advisers to have deeper conversations with clients, according to a new survey by Charles Schwab & Co. Inc.
At a recent workshop, advisers told me they are finding that a surprisingly high percentage of their clients are unemployed. Advisers found this out during client reviews, and they said the news surprised them — clients had never called to let them know about their new circumstances.
Citigroup has been fined $600,000 today by the Financial Industry Regulatory Authority, <a href=http://www.forbes.com/feeds/afx/2009/10/11/afx6989203.html>according to multiple media reports.</a>
A lawyer for a Miami insurance agent says he'll plead not guilty to charges of stealing more than $14 million from premium finance companies.
Balances in health investment accounts leapt by more than 20% quarter-over-quarter during the second quarter of 2009, according to data from Canopy Financial Inc.
The average 401(k) participant lost nearly one-third of their retirement account assets last year because of the market downturn, according to a report released this morning by the Investment Company Institute and the Employee Benefit Research Institute.
Regulators and representatives of the insurance industry appeared before Congress today to discuss a new draft of the Federal Insurance Office Act of 2009.
Although financial advisers think that succession planning is important, many also believe that they aren't getting enough help preparing for that transition, according to a new survey conducted by Mathew Greenwald & Associates Inc. for John Hancock Financial Network.
