"It's going to be a tough year for advisers. They will experience real pressure in profitability and in attracting clients, but I think we will see that the strong firms will emerge even stronger, while some of the weaker firms will merge."
The country is about to enter "an era of sustainability" that will affect both the economy and the financial markets.
As the art world's next major round of auctions begins this month, buyers and sellers will encounter a market as depressed as that for stocks and real estate.
First time jobless claims fell by 94,000 for the week ended Dec. 27, the Department of Labor reported today.
In order to receive a deduction for charitable contributions in 2008, the client must meet new, stricter substantiation rules.
The Conference Board Consumer Confidence Index fell to a reading of 38 in December, down from 44.7 in November and matching the record low set in October.
Advisers’ confidence in the economy and the stock market improved for the second consecutive month in December, according to Rydex AdvisorBenchmarking’s Advisor Confidence Index.
Personal spending fell 0.6% in November, as job losses began to mount and the economy continued to slow, according to the Department of Commerce.
Consumer took some heart in December, as lower prices have provided a measure of relief to jittery Americans fretting about continued job losses and decreasing incomes.
Economists are expecting an even steeper drop in gross domestic product numbers for the fourth quarter than final Department of Commerce third-quarter numbers, released today.
Because current yields on Treasury obligations are at historic lows, certain estate planning techniques can be very attractive.
Standard and Poor’s Ratings Services today lowered its counterparty credit and financial ratings on Nationwide Financial, the life insurance division of Columbus, Ohio-based Nationwide Mutual Insurance Co., to A+, from AA-.
Tremont Group Holdings, which is owned by OppenheimerFunds Inc., a subsidiary of Massachusetts Mutual, had $3.3 billion invested with Mr. Madoff — more than half of its total $5.8 billion under management.
The wirehouses appear to have escaped major exposure to Bernard Madoff's alleged Ponzi scheme.
A federal jury yesterday convicted two former KPMG LLP executives and a tax lawyer of tax-evasion charges in one of the largest tax-shelter cases of all time, according to published reports.
Does Mary Schapiro have the right stuff to take on the big firms? Although praise is coming in from many quarters for the nomination of the Finra chief to head up the Securities and Exchange Commission, there may be cause for concern.
Chief executive John Mack sounds the retreat from Morgan Stanley's swashbuckling days after the firm ost $2.34 per share for the quarter ended Nov. 30.
Axa SA of Paris, Massachusetts Mutual Life Insurance Co. of Springfield and Swiss Reinsurance Co., as well as other all-star companies, have also been exposed to Mr. Madoff’s alleged $50 billion Ponzi scheme.
The consumer price index, which measures the cost of living, fell by a record 1.7% in November, as gasoline and other energy prices plunged, according to a Department of Labor report.