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Finra bans LPL broker for depositing client funds into own bank account
The Financial Industry Regulatory Authority Inc. has barred an LPL Financial broker for depositing client funds into his…
Prudential Investments joins the fee-cut bandwagon
Asset manager cuts expenses on nine mutual funds, after a string of ETF fee cuts by Charles Schwab and BlackRock. (Related read: Fidelity takes on Vanguard by cutting prices)
Prudential fined $950,000 for failures in elderly customer’s variable annuity account
Finra says the firm failed to detect and prevent theft of approximately $1.3 million from an 89-year-old man's account.
Jackson National, Prudential cease sale of some L-share variable annuities
Some insurers are turning away from L-share variable annuities as appetite wanes among broker-dealers.
The DOL fiduciary rule could push these firms’ variable annuity sales even lower
Only one firm, MetLife, posted any substantial gains, as market volatility and fixed indexed annuities cut into VA business.
Sen. Warren, Rep. Cummings accuse financial industry of crying wolf on DOL fiduciary
The Massachusetts senator and Rep. Elijah Cummings, D-Md., assert four large insurance companies are telling regulators and shareholders different tales.
Massachusetts’ Galvin investigates fund pricing glitches
Massachusetts' top securities cop is investigating the failure of an accounting platform he said delayed correct pricing for billions of dollars in mutual funds and ETFs.
Edward Jones’ proprietary funds are outselling nearly all active managers
Firm has raised $8.1 billion for its seven Bridge Builder funds this year as it moves money from its fee-based platform.
Global markets offer opportunities but central bankers hold the key: El-Erian
El-Erian, Doll, Krosby say investors will have to work harder for returns in a volatile market this year.
Stocks and the economy are hooked on the Fed’s punch bowl
Policy critics charge the markets are 'artificial,' but some strategists say the central bank can manage continued stimulus pullback.
Advisers and analysts scramble to make sense of a wild market ride
Giving the Fed credit and blame for pushing markets past fundamentals.
Pru retail brokerage settles charges over mutual fund pricing
Unit to pay nearly $11M to close Finra action; B-D platform allegedly failed to place orders in a timely fashion
Worker suit over Verizon retirement plan handoff now a class action
Judge grants status in high-profile case; baton handed to Prudential
‘Slap’ to reps as Jackson National cuts VA features on short notice
Reps are none too thrilled with Jackson National's cuts to some VA features, particularly since the carrier offered only a few days' notice before the changes take effect. Said one harried adviser: "It's offensive."
Advisers irked as Pru locks vintage VAs
Prudential Financial Inc.'s decision to cut off contributions into a slate of older variable annuities with attractive benefits has raised the ire of financial advisers, this time because they were given so little time to add money to the contracts.
Pru pulls plug on another long-term-care product
Bows out of group LTC insurance; halted sales of individual coverage in March
Prudential said to emerge as lead bidder for Hartford Life unit
Prudential Financial Inc. has emerged as the lead bidder for Hartford Financial Services Group Inc.'s individual life insurance business, which may sell for about $1 billion, said two people with knowledge of the matter.
Prudential to bail on sales of individual long-term care
Prudential will stop selling long-term care policies citing 'challenging economics.'
VA changes at major insurers are afoot, executives say
Just when it seemed that the variable annuity industry couldn't handle more change, major sellers MetLife Inc. and Prudential Financial Inc. expect to roll out product updates this month, while The Hartford Financial Services Group Inc. is looking to reduce further its VA book of business.
Long-term-care insurance suddenly short on sellers
Pru the latest marquee carrier to exit from the individual LTCI business; last day for sales is March 30
