Merrill Lynch is leading the charge as top U.S. wealth managers increasingly seek to grow their businesses by expanding overseas.
The combined total launches last year of exchange traded funds, variable annuities and closed-end funds surpassed open-end mutual fund launches for the first time, according to Boston-based research firm Cerulli Associates Inc.
AIG Advisor Group, continuing to play a game of musical chairs with the executives in charge of its various broker-dealers, has replaced James Cannon with Jeffrey Auld as president and chief executive of both AIG Financial Advisors Inc. of Phoenix and American General Securities Inc. of Houston.
Personal-injury lawyers are once again jumping into the risky — and costly — arena of securities litigation, teaming up with plaintiff's attorneys to troll for clients who claim that broker-dealers wronged them when they bought auction rate securities.
AIG Advisor Group continues to play a game of musical chairs with the heads of its various broker-dealers, this time replacing James Cannon with Jeffrey Auld, who becomes president and chief executive of both AIG Financial Advisors Inc. of Phoenix and American General Securities Inc. of Houston.
Confidence among U.S. consumers continued to erode in June as Americans prepared to deal with a still-worsening economy in the months and years ahead.
Being a contrarian and seeking out companies that other managers ignore could be the key to a successful strategy, said asset managers.
American International Group Inc. has been hit with $13 billion in write-downs over the past year stemming from the securities lending accounts of 12 of its insurance units.
The domestic financial crisis is not yet over, and its full impact has yet to be felt, legendary investor Jean-Marie Eveillard said.
Asia will continue to be an attractive place to invest despite market losses of up to 40% this year, portfolio managers said at athe Morningstar Inc. conference.
Consumer spending increased in May as the stimulus-package rebate checks increased purchasing power and inflation forced them to pay more.
They find opportunities in energy and other commodities, and even in financials.
Boomers, already strapped for cash, stand to lose even more money by caring for their parents, according to Fidelity Investments in Boston.
Sales of existing homes increased 2% in May to a seasonally adjusted rate of 4.99 million units, according to the National Association of Realtors in Chicago.
Nearly half of pre-retirees believe they can withdraw 10% annually from their retirement savings, according to MetLife’s Mature Market Institute survey.
Barclays Capital said the possibility of increased inflation has replaced credit risk as the top issue facing the global financial markets.
Sales of new single-family homes fell 2.5% last month to an adjusted annual rate of 512,000, according to the Department of Commerce.
A.M. Best Co. today downgraded Security Benefit Life Insurance Co.’s financial strength rating to A- from A.
Sun Life Financial Inc.’s U.S. division in Wellesley, Mass., today introduced Retirement Blueprint, which helps advisers expand their role with their clients.
Women want to learn about preparing for retirement, but advisers who want to attract that market need to adapt their practices.
