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New-home sales fall to 12-year low
Sales of single-family homes fell 4.7% in December to a seasonally adjusted rate of 604,000.
Insurers revamp equity index annuities for boomers
Inspired by market volatility, insurance carriers are making over their equity-index annuities in an attempt to beat a bad reputation and target baby boomer investors.
Gender is big factor in pension gap
Gender is a strong factor in determining the likelihood of whether a worker 50 or older receives an annuity or a company-sponsored pension payment, according to a recently released study.
Assurant CEO returns to duty
Robert B. Pollock's return follows a six-month hiatus when Mr. Pollock went on administrative leave by order of the board of directors.
Annuity sales can destroy estate planning strategies
Insurance agents and advisers are hawking annuities without grasping the adverse impact on clients' estate plans, industry observers said.
Earnings: Ameriprise, E*Trade
Ameriprise posted strong returns, while E*Trade took a larger-than-expected plunge into negative territory.
Jobless claims decline for week
First-time jobless claims fell by 1,000 to 301,000, the lowest level since early September.
Existing-home sales drop 2.2% in December
For all of 2007, the median sales price of an existing single-family home fell 1.8%.
Earnings: Janus Capital, Franklin Resources
Franklin Resources reported a 21% increase in profits while Janus Capital Group experienced a 29% drop in earnings.
UBS and Genworth team up on life option
The new benefit will go with UBS’s target retirement funds and other investment options.
Earnings: Piper Jaffray, Jefferies Group
Piper Jaffray's earnings fell 27% with net income falling to $15.1 million while Jefferies reported a loss of $24.2 million.
Global markets react to Fed cut
Asian stocks bounced back while European securities slumped following the Federal Reserve's interest-rate cut.
Economists down on GDP, upbeat on hiring
Although they are pessimistic about the U.S. economy, they are optimistic about their own company's prospects.
Earnings: BofA, Wachovia, Ambac
The subprime-credit debacle caused the firms' profits to fall sharply in the fourth quarter.
Jackson retirement and wealth exec named
John Koehler will lead a group of nine specialists, each one focusing on advanced planning techniques.
Paulson: ‘Robust’ package can be expedited
Treasury Secretary Henry Paulson this morning expressed optimism that a temporary growth plan can be enacted quickly.
Fed cuts rate to stanch market bleed-out
In an surprise move, the Federal Reserve cut interest rates from 4.25% to 3.50%.
Dually registered and RIA channels are growing
The typical American financial adviser is 50.4 years old, works with 250 to 500 clients and manages $25 million to $100 million in assets.
Recession could hit hard, last long
A 2008 recession could last longer and be more severe than any since the end of World War II, say economists.
Relationships are king
Asset management might be at the heart of what drives an individual toward financial advice, but savvy financial planners are realizing that it takes more than asset management to bring lasting value to the advisory relationship.
