New life insurance premium levels at banks leapt nearly 60% during the third quarter, beating the overall industry's growth for the second consecutive quarter, according to data from Kehrer-LIMRA, a subsidiary of LIMRA International Inc.
Broker-dealer firms are not providing advisers with the technology and resources they need to manage risk in their portfolios, Robert S. Kapito, president of BlackRock Inc., told attendees of the Investment Management Consultant Association's conference in New York today.
In November 2008, many investors believed we were on the edge of financial disaster. Panic was sweeping Wall Street and Main Street. The global economy was in disarray. Now, a little more than a year later, stock market values have rebounded sharply, frozen credit markets are now flowing more freely, and there is greater liquidity in the financial -system.
Kuwait's sovereign wealth fund said Sunday it booked a profit of $1.1 billion by selling the stake it took in Citigroup Inc. less than two years ago when the banking giant was strapped for cash.
Jacques Perold was named head of Fidelity Investments' $1.4 billion asset management group, which includes Pyramis Global Advisors, said Vincent Loporchio, spokesman.
A Utah judge has thrown out a lawsuit filed by two former financial advisers accusing state regulators of violating their constitutional rights by bringing securities violations against them without proof of wrongdoing.
RBC Capital Markets, the investment banking arm of Royal Bank of Canada, announced Tuesday the appointment of Blair Fleming as head of U.S. investment banking.
The natural-resources sector may still be a winning bet, despite concerns that the prices of stocks focusing on commodities and resources have run up too fast in an economic environment where demand is still slack and inventories remain high.
Focus Financial Partners, which recently completed a $50 million recapitalization to meet debt obligations and revive its business of buying interests in wealth management firms, confirmed today that it has made LLBH Private Wealth Management a full partner firm. As a partner, LLBH gets a combination of cash and equity units in Focus in exchange for giving the parent company a preferential interest in a portion of its annual revenue.
Discount brokers lost a vote of confidence from equity analysts at Goldman Sachs Group on Monday. In a report, Goldman cut its recommendation on TD Ameritrade Holding Corp. (AMTD) to neutral from buy, and lowered its price target to $21 from $24. It kept its ratings on The Charles Schwab Corp. (SCHW) and E*Trade Financial Corp. (ETFC) at “sell” and “buy,” respectively, but lowered its target prices on those firms and also on discount brokers OptionsXpress (OXPS) and TradeStation Group (TRAD).
Focus Financial Partners LLC, which calls itself “the leading partnership of independent wealth management firms,” confirmed Monday that it is buying a stake in Joel Isaacson & Co. Inc.
As any stockbroker knows, it isn't just online and institutional brokers that offer discounts.
Royal Bank of Canada today said that it will buy, for an undisclosed sum, JPMorgan Chase & Co.'s servicing business for third-party registered investment advisers.
The world economy is recovering at a healthy pace but still needs government stimulus efforts to keep it going, the International Monetary Fund said Tuesday.
World stock markets fell Tuesday as Japan Airlines filed for bankruptcy protection and investors awaited a raft of fourth-quarter U.S. corporate earnings with a degree of unease following a fairly mixed start to the results season.
Two major life insurers are providing disaster relief to Haiti by making donations to the earthquake-ravaged republic.
Institutional investors are focusing on opportunities in the natural-resources sector by investing in timberland to hedge against inflation.
Both large and small financial services firms joined the worldwide effort to relieve the suffering caused by the earthquake in Haiti.
Moneta Group, a large financial planning and retirement benefits firm, has hired a team of A.G. Edwards Inc. veterans who last year produced around $1.3 million in revenue and managed about $300 million of client assets.
