Results for "prudential financial"

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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...

Retirement calculators show 'dramatically different' results

June 20, 2016

Calculators used by investors to gauge their probability of retirement success may not actually be good gauges of that success. Comparing the outputs from several retirement planning programs shows a huge dispersion of results, underpinning...

The DOL fiduciary rule could push these firms' variable annuity sales even lower

March 31, 2016

Many of the top variable annuity companies saw sales figures drop off last year, and the pain is only expected to continue, or even accelerate, this year given the Labor Department's looming fiduciary rule, market volatility and cannibalization...

Senator Warren ups ante by calling for SEC investigation of firms opposing DOL fiduciary

March 31, 2016

Sen. Elizabeth Warren, D-Mass., is calling for a Securities and Exchange Commission investigation of financial firms she says are making contradictory statements about a Labor Department investment advice rule. In a letter Thursday to SEC Chairwoman...

Former MetLife, Prudential broker accused of deceptive variable annuity sales practices

March 1, 2016

The Financial Industry Regulatory Authority Inc. has accused a former MetLife Inc. and Prudential Financial Inc. broker of harmful and deceptive sales practices relating to variable annuities. Winston Wade Turner, formerly a registered representative...

Sen. Warren, Rep. Cummings accuse financial industry of crying wolf on DOL fiduciary

February 11, 2016

Wall Street critics in Congress are accusing the financial industry of talking out of both sides of its mouth when it comes to a pending Labor Department rule that would raise investment advice standards for retirement accounts. Sen. Elizabeth...

U.S. stocks join global slide as financials lead selloff

February 11, 2016

U.S. stocks fell, with the Standard & Poor's 500 Index remaining near a 22-month low, as investors shunned risk worldwide amid concern that central-bank efforts to support growth are losing their potency. Banks led the early retreat, with Citigroup...

Once unheard of, negative interest rates emerge as a viable Fed tool

February 11, 2016

With Federal Reserve Chair Janet Yellen confirming before Congress this week that a negative-interest-rate monetary policy is a plausible option, financial advisers might already be weighing the investment alternatives in such an unprecedented...

AIG Advisor Group sold to Lightyear Capital, PSP Investments

January 26, 2016

American International Group on Tuesday announced the sale of AIG Advisor Group, one of the largest networks of independent broker-dealers in the country, to private-equity firm Lightyear Capital and Canadian pension manager PSP Investments....

Stock market fall raises new questions about the Fed's monetary policy

January 21, 2016

January's wild ride of stock market volatility has put the Federal Reserve back into the awkward position of linking its monetary policy to the financial markets. While that isn't an officially stated position of the Fed, it is widely recognized...

What early stock market volatility means for the year ahead

January 8, 2016

There's no particular reason the start of a new calendar year should represent the start of a new mood in the financial markets — but that's sort of what's happening. On two of the first four trading days of 2016, U.S. equity markets suffered...

DOL fiduciary rule could take $2.4 billion bite out of financial services industry

December 30, 2015

Implementing the Department of Labor's proposed fiduciary standard on retirement accounts will hit the financial services industry harder than many believe and reduce annual revenues by $2.4 billion, or more than twice some current estimates,...

Cheap oil presents new investment opportunities

December 21, 2015

Even as the price of oil falls to an 11-year low, market watchers advise against trying to time the bottom, and instead encourage either buckling in for the long-term or avoiding the commodity altogether. “If you're trying to trade in the...

BlackRock, Pimco, JPMorgan all back this bond trade

December 21, 2015

Diving into the riskiest parts of Europe's government bond market proved to be a clear winner this year. Some of the world's biggest money managers say 2016 will be no different. BlackRock Inc., Pacific Investment Management Co. and Prudential...

Carl Icahn calls for AIG to split itself up into three companies

October 28, 2015

Carl Icahn, the billionaire investor known for picking fights with corporate boards, disclosed an investment in American International Group Inc. and said it should split into three companies, one offering property-casualty coverage, another...

Stay calm and don't worry about Black Monday

October 16, 2015

There are a few thin parallels between today and the days leading up to the historic Oct. 19, 1987 stock market crash that are getting attention, but nothing that should rattle investors. Beginning with the parallels, like in 1987, Oct. 19 fell...

New financial planning software tries to win market share in a crowded field

September 16, 2015

Financial planning is becoming an increasingly competitive market for software providers, but regardless, another new platform has launched with an adviser-targeted offering that it touts as different. RightCapital, a financial planning software...

Massachusetts' Galvin investigates fund pricing glitches

September 4, 2015

Massachusetts' top securities cop is investigating the failure of an accounting platform that he said has delayed correct pricing for billions of dollars in mutual funds and ETFs. Secretary of the Commonwealth William F. Galvin on Friday said...

Stock sell-off continues but cool-headed advisers keep clients focused on the long term

August 21, 2015

As investors continued to flee the stock market indiscriminately Friday on anything that looked like troubling news, cool-headed advisers kept their clients focused on the long term by pointing out that the week-long pullback, as sharp as it...

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