Merrill board irked by CEO E. Stanley O'Neal's unauthorized outreach, The New York Times reports.
After his business fell apart, Ed May asked a former client to put money into a new set of investments.
Some 77% of respondents to an InvestmentNews survey plan to reach out to clients in areas affected by wildfires.
Falling home prices and higher food and fuel prices drove consumer confidence lower this month.
The Oregon College Savings Plan will combine principal protection with upside potential.
The mutual fund trade group asks the state to repeal a new sales tax on investment advice services.
In addition to advising services, the new tax would also apply to astrology reading, escort services and ski-lift tickets.
Sales of new one-family homes rose 4.8% to a seasonally adjusted annual rate of 770,000 from a revised 735,000 in August.
Despite strong growth, numbers are down slightly from Q2 as officials make effort to curb inflation.
The move would “hinder America’s ability to compete in the global economy,” said Treasury chief Henry Paulson.
Americans have become even gloomier about the economy, but the reality may not be all that bad, says an economist.
MBIA, the world’s largest bond insurer, reported third-quarter earnings with a net loss of $36.6 million, or 29 cents per share.
The board of New York Life Insurance has elected Frank Boccio to the position of executive vice president and CAO.
The worse-than-expected third-quarter losses raise questions as to the fate of chief executive Stanley O’Neal.
The Risk Group will be responsible for identifying, tracking and addressing key external market and industry trading developments.
Charles Rangel, chairman of the House Ways and Means Committee, has drafted a bill that would slash corporate income tax rates, The Wall Street Journal said.
BS AG remained the world’s largest money manager in terms of assets under management, with $2.45 trillion, to lead the Pensions & Investments/Watson Wyatt Worldwide ranking of the world’s 500 largest money managers in 2006.
Ladenburg Thalmann has acquired Investacorp, a B-D with close to 500 affiliated reps.
The American Council of Life Insurers today elected Dennis R. Glass, president and CEO of Lincoln Financial Group, as its 2008 chairman.
With no permanent repeal of the estate tax in sight, advisers are appeasing worried clients by putting new twists on old estate-planning tools.
