Results for "life insurance"

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SEC goes after firm for fraud tied to life settlements

April 8, 2015

The Securities and Exchange Commission has charged a California investment firm with fraud and securities violations surrounding investments tied to life insurance policy death benefits. The SEC alleges Pacific West Capital Group Inc., based...

Northwestern Mutual purchases LearnVest

March 25, 2015

Northwestern Mutual Wednesday announced it will acquire LearnVest, an online advice platform that also provides one-on-one financial counseling through financial advisers. Terms of the deal were not announced. As part of the deal, Northwestern...

Northwestern Mutual agrees to settle annuities suit for $84 million: report

March 17, 2015

Northwestern Mutual Life Insurance Co is paying $84 million to settle a class action lawsuit that claimed the firm illegally reduced payouts on annuities it sold 30 years ago. The lawsuit covered about 4,000 current and 29,000 former owners...

Bigger & Better

March 16, 2015

Though these billion-dollar babies are a diverse group, on the whole they appear to be growing their businesses faster, trimming overhead more aggressively, serving larger clients and generating more money for their owners than their smaller...

Robert Benmosche remembered as tenacious, fair by colleagues

February 27, 2015

Steve Miller called him tenacious. Steve Kandarian remembered his fighting spirit. As Maurice “Hank” Greenberg put it, Robert Benmosche, who died Friday at 70 after leading two of the biggest U.S. insurers, “was a fighter.” “If he...

The Mutual Fund Store adds new products, services as it eyes eventual IPO

February 15, 2015

Three years after taking over leadership of The Mutual Fund Store from its charismatic, straight-shooting founder, Adam Bold, John Bunch is starting to make his mark by expanding its products and services. The company is expanding its financial...

Don't let beneficiary designations come back to haunt divorcing clients

January 27, 2015

When gearing up for a divorce, don't just check all of the beneficiary designations — make sure you're aware of how state laws will affect life insurance death benefits. Scrutiny of beneficiary designations amid a divorce sounds like a no-brainer,...

MetLife plans to sue to overturn Dodd-Frank systemic-risk label

January 13, 2015

MetLife Inc. said it will sue to overturn a U.S. finding that subjects the insurer to tighter oversight under the Dodd-Frank law, becoming the first non-bank financial firm to file such a challenge. A complaint will be filed today in federal...

John Hancock buys New York Life's retirement unit; New York Life acquires block of John Hancock's life insurance biz

December 23, 2014

In a two-part tradeoff, John Hancock will acquire New York Life's Retirement Plan Services business, and New York Life will take on a block of John Hancock's life insurance business. The two deals were announced by both New York Life and John...

National insurance registry falls short of goal line, tax extenders passes

December 17, 2014

Legislation that would have established the first national registry for insurance agents, facilitating practices in multiple states, was stopped one yard short of the goal line Tuesday night. A bill containing the provision died when it was...

Insurance vehicles can be powerful way for advisers to reach younger investors

December 16, 2014

For advisers who want to expand their firms by reaching out to the next generation of investors – those in their 20s, 30s or 40s – long-term and cross-generational financial vehicles such as fee-only life insurance and no-load annuities...

Senate set to approve national insurance-agent registry

December 16, 2014

By the end of the week, Congress is likely to approve legislation that would establish the first national registry for insurance salespersons, a step that will make it easier for them to practice in multiple states. The Senate is considering...

Top Jackson National exec Clifford Jack to step down

December 16, 2014

Clifford Jack, a longtime executive at Jackson National Life Insurance Co. and the progenitor of its independent broker-dealer network National Planning Holdings Inc., is leaving the company. Mr. Jack, 51, joined Jackson National in 1995 and...

New York Life buys IndexIQ to expand liquid alts offering, add hedge fund ETFs

December 4, 2014

New York Life Insurance Co. agreed to buy asset manager IndexIQ, pushing into exchange-traded funds and adding offerings for retail investors who want to copy hedge-fund approaches. The transaction “puts us into the forefront of two very important...

How Social Security annual increases are calculated

November 7, 2014

Some topics are a lot more controversial than others. But I was amazed when my October 1, 2014, article that correctly predicted next year's 1.7% cost-of-living adjustment for Social Security benefits several weeks before the official announcement...

Early onset Alzheimer's: When plans are upended

November 3, 2014

Ken Sullivan and his wife, Michelle Palomera, seemed like ideal clients. Both had well-paying jobs in financial services and had been diligent savers. Their financial adviser helped them cover their bases, building their money in managed accounts...

Unraveling Minds

November 3, 2014

In January, Michael Kotin, a financial adviser at Wells Fargo & Co., faced a dilemma. Two longtime clients, Eugene and Cecilia Ratner — a couple who had been married for around 60 years and who were both well into their 80s — were accusing...

Protecting vulnerable aging clients

November 2, 2014

As clients age and laws evolve, the securities industry faces incalculable risks that require rigorous internal controls to properly manage relationships with vulnerable aging investors. An unsuitable investment recommendation to a client once...

Former Pimco parent Pacific Life moves accounts to Janus

October 21, 2014

Pacific Life Insurance Co., the insurer where Pacific Investment Management Co. was started as a bond unit in 1971, is moving money from Bill Gross's old firm to Janus Capital Group Inc., which the bond legend joined last month. Pacific Life...

Indexed universal life insurance faces fresh scrutiny

October 15, 2014

Financial advisers working with indexed universal life insurance are finding themselves in the middle of a heated battle between state regulators and the life insurance industry. In an otherwise sleepy corner of the product market, indexed universal...

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