Results for "prudential financial"

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Sensitive private data mishandled by broker watchdogs, whistleblower claims

March 27, 2018

A whistleblower is accusing some key financial regulators of allowing sensitive broker information to become readily accessible, even as industry watchdogs emphasized the need for companies to protect client data. According to a complaint lodged...

2017 largest variable annuity providers

February 17, 2018

VA sales have trended downward for five years, and the third quarter brought more bad news: the 
product line saw the lowest sales in 20 years. However, experts think interest may slowly pick up as advisers and insurers get more comfortable...

Inside the $700 billion bond empire in Newark

February 16, 2018

A quartet of bond managers ensconced in a glistening tower in Newark, New Jersey, say historically low long-term Treasury yields are here to stay. And they've got a growing pile of money backing that view. For the crew at PGIM Fixed Income,...

New details into MetLife pension scandal raise questions and alarms

February 15, 2018

MetLife Inc. provided new details this week about how it lost track of thousands of pension clients. But state and federal inquiries promise to drag on for months and will make it hard to put the scandal behind it any time soon. The company...

Prudential pivots toward indexed annuities

January 29, 2018

Prudential Financial Inc. Monday announced the launch of its first indexed annuity, the latest variable-annuity carrier to pivot toward the increasingly popular annuity. The variable annuity market has had a rough go in recent years, having...

Betterment beefs up 401(k) advisory board with ex-Vanguard expert

January 23, 2018

Betterment is beefing up its 401(k) business' advisory board, a sign that the robo-adviser could be preparing to make a more aggressive play into the retirement plan provider market. The Betterment for Business board is adding Barbara Fallon-Walsh...

Rollins Inc. 401(k) participant sues Morningstar, Prudential over alleged RICO violations

August 31, 2017

A participant in a 401(k) plan of Rollins Inc., Atlanta, sued Morningstar and units of Prudential Financial, alleging they violated a federal racketeering law in offering an investment service to plan members. Rollins plan officials and Rollins...

BlackRock finds steep risk in U.S. investment portfolios

August 29, 2017

Insurers got burned badly in the 2008 financial crisis. So almost a decade later, BlackRock Inc. scoured the industry's $5 trillion in U.S. investments to figure out how they would fare if markets crash so hard again. The answer: Worse. The...

DOL fiduciary rule causing DC-plan record keepers to change business with insurance agents

July 24, 2017

Independent insurance agents have been among the most affected by the Department of Labor's fiduciary rule, and it appears some defined-contribution-plan record keepers have been contributing to that upheaval. Record keepers such as Principal...

9 more firms adopt fee disclosure template for clients

May 9, 2017

Nine financial firms agreed Tuesday to adopt a fee disclosure template developed by state regulators and other groups that is designed to help clients understand and compare service and maintenance costs. The North American Securities Administrators...

The Hartford wins excessive-fee lawsuit

March 1, 2017

The Hartford Financial Services Group Inc. has prevailed in a lawsuit alleging the firm charged excessive fees in its investment funds, in one of many similar lawsuits filed against insurance companies within the past several years. Judge Renée...

Markets looking for policy details in Trump's speech

February 27, 2017

Donald Trump's address to Congress on Tuesday is taking on the importance of a State of the Union speech when it comes to U.S. financial markets. For investors relying on more than a year of campaign promises of a pro-growth agenda to push U.S....

Dow sails past 20,000

January 25, 2017

Thinking too hard about investing doesn't get you anywhere, wrote Jesse Livermore, legendary trader of the Roaring '20s. To make the really big money, you just need to “be right and sit tight.” Rarely has Mr. Livermore's advice been harder...

Prudential, Captrust win 401(k) fiduciary breach lawsuit

January 4, 2017

Prudential Financial and CAPTRUST Financial Advisors have defeated allegations of fiduciary breach in a 401(k) lawsuit against the two companies and the employer sponsoring the retirement plan. Connecticut district court judge Victor A. Bolden...

Elizabeth Warren investigating sales of Prudential insurance policies by Wells Fargo

December 14, 2016

Sen. Elizabeth Warren sent a letter to the chief executive of Prudential Financial Inc. seeking information on sales of life insurance policies through Wells Fargo's retail bank channels, in a continuation of the ongoing investigation into the...

Prudential halts some insurance sales through Wells Fargo after ex-employees' whistleblower lawsuit

December 12, 2016

Prudential Financial Inc. announced Monday that it would halt distribution of some term life insurance policies through Wells Fargo's retail bank, following a lawsuit filed by Prudential employees alleging they were fired for blowing the whistle...

Four life insurers will pay $3.4M to settle probe over death benefits

August 5, 2016

State insurance regulators have reached settlements with four life insurance companies regarding payment of unclaimed death benefits, terms of which include paying an aggregate $3.4 million. The Hartford Financial Services Group, Securian Financial...

Jackson National, Prudential cease sale of some L-share variable annuities

July 28, 2016

Two of the largest variable annuity product manufacturers are ceasing the sale of some L-share VAs, which have attracted the watchful eye of regulators and whose suitability has been further questioned given new Labor Department regulations...

Prudential fined $950,000 for failures in elderly customer's variable annuity account

July 19, 2016

Finra has fined Prudential Annuities Distributors Inc., a unit of Prudential Financial Inc., $950,000 for supervisory lapses in an elderly customer's variable annuity account in which a rogue broker stole more than $1 million. The Financial...

Finra bans former Prudential broker for deceptive variable annuity sales

July 11, 2016

The Financial Industry Regulatory Authority Inc. has banned a broker from the securities industry for making unsuitable variable annuity recommendations while employed at Prudential Financial Inc. and MetLife Inc. Winston Wade Turner deceived...

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