NEW YORK — Advisers hoping to convince clients that they need a long-term financial plan should do their best to appeal to the prefrontal cortex of their clients’ brains — and steer clear of the limbic system altogether.
NEW YORK — The needs of aging clients and their aging parents are compelling financial advisers to become more knowledgeable about elder-care issues.
NEW YORK — The Financial Services Institute Inc. is gearing up for a fracas with regulators over the highly contentious issue of 12(b)-1 fees, an embedded annual charge in almost all mutual funds.
Bank of America Corp. is counting on a new advisory business to help retain ultrahigh-net-worth clients once its $3.3 billion deal to acquire U.S. Trust Corp. from San Francisco-based Charles Schwab Corp. closes next month.
CHICAGO — Life cycle fever seems to be spreading from 401(k) plans to variable annuities. At ING Variable Annuities, for instance, assets in LifeStyle portfolios — which were introduced as ING-managed subaccounts in mid-2004 — reached $8 billion at the end of April, up from more than $4 billion at the end of 2005.
NEW YORK — A key roadblock to health savings account acceptance is that many people know little or nothing about HSAs and their required high-deductible health insurance plans, according to industry experts.
It's the prefrontal cortex, stupid. That's the part of the client's brain that can scuttle an adviser's best-laid plans.
The largest shareholder of Citigroup has expressed confidence in chief executive Charles Prince and does not want to see a breakup of the company.
Gov. Eliot Spitzer has created a commission to help New York City hold onto and expand its status as a world financial capital.
Fidelity Investments will move its Japanese equity-trading desk to Hong Kong from Tokyo, published reports said.
Global Alpha, Goldman Sachs’ flagship hedge fund, fell 3.4% during the first four months of this year.
London-based HSBC, Europe’s biggest bank, has created a $100 million partnership to study the impacts of climate change.
OppenheimerFunds Inc. Wednesday said Bill Wilby will retire from the New York-based company June 30 after 16 years of service.
New York Life Retirement Plan Services is taking a page from retailers like Amazon.com Inc. in order to better understand and predict employee retirement planning behavior.
The Bear Stearns Cos. Inc. today expanded its European investment banking division with a series of new appointments.
New York Life Insurance Co. has announced promotions in its general counsel department.
Jeff Raich, co-global head of mergers and acquisitions, is the latest high-ranking investment banker to leave UBS AG.
A group of banks led by the Royal Bank of Scotland Group has formally launched a $95.6 billion bid for ABN Amro Holding.
Inheriting a depleted recruiting staff, the new head of National Planning Corp. immediately will focus on rebuilding that team. Last Monday, Santa Monica, Calif.-based NPC said that Scott Romine was replacing M. Shawn Dreffein as its CEO.
SAN FRANCISCO — A mortgage alternative is gaining traction. In recent years, such companies as CMG Financial Services Inc. and Macquarie Mortgages USA Inc. have begun offering mortgage accelerator loan products that allow borrowers to hasten their loan payoff schedule by reducing the amount of interest paid on their loans.
