RIA News

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RIA NEWS AUG 13, 2009
Metal surge may mean time to purge

Be careful about chasing the rally in industrial metals.

By Dan Jamieson
RIA NEWS AUG 13, 2009
First-time jobless claims rise unexpectedly to 558,000

The number of people remaining on the benefit rolls fell to 6.2 million from 6.34 million the previous week. Analysts had expected a slight decline.

By Associated Press
RIA NEWS AUG 13, 2009
Stocks rise modestly after jobs, retail data

The stock market is trying to reconcile some disappointing retail sales and jobs data with the Federal Reserve's more upbeat view of the economy.

By Bloomberg
RIA NEWS AUG 13, 2009
Vatican newspaper hails Swiss-U.S. bank deal

The Vatican's newspaper on Thursday praised as a step toward "ethical finance" a deal announced by the Swiss and U.S. governments to settle American demands for the identities of suspected tax dodgers.

By Bloomberg
ALTERNATIVES AUG 13, 2009
Foreclosures rise 7 percent in July from June

Foreclosure filings were up 32 percent from the same month last year, RealtyTrac Inc. said Thursday. More than 360,000 households, or one in every 355 homes, received a foreclosure-related notice.

By Bloomberg
LIFE INSURANCE AND ANNUITIES AUG 13, 2009
Axa Advisors to pay $50,000 settlement in connection to retirement-fund fraud

The Securities and Exchange Commission on Tuesday filed an administrative proceeding against Axa Advisors LLC for failing to supervise a former registered representative who pleaded guilty to securities fraud in January 2008.

By Sara Hansard
LIFE INSURANCE AND ANNUITIES AUG 13, 2009
National Planning Holdings revs up recruiting, drives rep count to all-time high

Although first-half revenue may be down at National Planning Holdings Inc., the independent broker-dealer network has been actively adding to its ranks of registered representatives.

By Darla Mercado
LIFE INSURANCE AND ANNUITIES AUG 13, 2009
Strong sales of annuities boosted Jackson's earnings, top exec says

Jackson National Life Insurance Co., buoyed by robust sales of annuities, saw its first-half sales and deposits reach $6.1 billion, up from $5.94 billion in the first six months of 2008.

By Bloomberg
LIFE INSURANCE AND ANNUITIES AUG 13, 2009
Moody's maintains A3 long-term issuer rating on AIG after insurer reports profit

Moody's Investors Service today said it would keep its A3 long-term issuer rating on American International Group Inc. after the insurance company reported its first quarterly profit in nearly two years.

By Bloomberg
RIA NEWS AUG 12, 2009
Stock futures little changed Wednesday before Fed decision

By Bloomberg
RIA NEWS AUG 12, 2009
LPL earnings spiked in second quarter

LPL Investment Holdings Inc. saw an 8.9% increase in its second-quarter profits, mostly on the back of cost cutting and the recent improvements in market conditions.

By Bruce Kelly
RIA NEWS AUG 12, 2009
June trade deficit rose to $27B, imports increase

The Commerce Department says the deficit rose 4 percent to $27 billion, from May's $26 billion. The May imbalance had been the lowest deficit in nearly a decade.

By Bloomberg
WIREHOUSES AUG 12, 2009
Wirehouse-hopping drops as reps flock to indies and regionals

The number of advisers moving from one wirehouse to another reached a nine-month low last month, according to data compiled by the Discovery-RR Database.

By Sue Asci
RIA NEWS AUG 12, 2009
ING back in the black

ING Groep NV, the Amsterdam, Netherlands, banking and insurance company, returned to profitability in the second quarter, earning £229 million ($325.8 million).

By Darla Mercado
RIA NEWS AUG 12, 2009
The new Merrill mantra: We want brokers, brokers, brokers

As Sallie Krawcheck takes charge of Merrill Lynch's retail-brokerage firm, it is priming the pump to recruit reps of all stripes — not just the jumbo producers so coveted on Wall Street.

By Bruce Kelly
RIA NEWS AUG 12, 2009
Stocks surge as Fed sweetens up on economy

A more upbeat Federal Reserve reassured investors that they've been making the right bets.

By Bloomberg
LIFE INSURANCE AND ANNUITIES AUG 12, 2009
HSA balances increase for individuals and families

Balances in health savings accounts increased slightly in the first quarter from fourth-quarter-2008 levels, according to data from Canopy Financial Inc.

By Bloomberg
RIA NEWS AUG 11, 2009
Former Bush adviser helps open investment firm

A former member of the National Economic Council under President Bush has launched a boutique investment advisory firm, according to published reports.

By Bloomberg
RIA NEWS AUG 11, 2009
Securities America feared 'bank run' from holders of Medical Capital

A former top executive of Securities America feared “a panicked run on the bank” from clients who invested in private securities of Medical Capital Holdings Inc., which was sued last month by the Securities and Exchange Commission for fraud.

By Bloomberg
RIA NEWS AUG 11, 2009
Productivity rises more than expected in 2Q

The Labor Department says productivity, the amount of output per hour of work, rose at an annual rate of 6.4 percent in the April-June quarter.

By Bloomberg