Industry News

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NEWS INDUSTRY NEWS MAR 19, 2012
'Real Time''s Bill Maher reveals real amazing investment

Comic says he purchased minority stake in New York Mets; laughing stock?

By John Goff
NEWS RIAS MAR 19, 2012
Affiliated Managers Group takes maiden wealth management stake with Veritable deal

The deal is the first wealth management acquisition for AMG, which owns stakes in 27 boutique money managers that have a total of $338 billion under management.

By Dan Jamieson
VA clients holding on to their VAs instead of surrendering them
NEWS RETIREMENT PLANNING MAR 19, 2012
VA clients holding on to their VAs instead of surrendering them

VA clients are less likely to surrender their variable annuities, as living benefits retain high value

By Darla Mercado
NEWS RIAS MAR 19, 2012
Merrill Lynch losing top advisers

By Bloomberg
Missed the BofA rally? There's still time, says investment exec
NEWS INDUSTRY NEWS MAR 19, 2012
Missed the BofA rally? There's still time, says investment exec

Brown says bank's stock still undervalued when compared to earnings potential

By John Goff
Another snafu in DOL's plan to update fiduciary standard
NEWS RETIREMENT PLANNING MAR 19, 2012
Another snafu in DOL's plan to update fiduciary standard

Letter sent to industry groups gave some one day to provide requested information; short notice

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES MAR 18, 2012
OSU, Pickens come up empty in insurance battle

By Darla Mercado
NEWS RIAS MAR 18, 2012
JOBS Act merits greater scrutiny

By MFXFeeder
NEWS ALTERNATIVES MAR 18, 2012
Pacific West is ordered to pony up $2.1M over TICs

By Bruce Kelly
NEWS RETIREMENT PLANNING MAR 18, 2012
These tech tools know how to take annuities into account

By Davis Janowski
NEWS INDUSTRY NEWS MAR 16, 2012
Ron Carson: I got the Muppet treatment from Goldman

Well-known wealth manager Ron Carson claims he recently got a first-hand look at how Wall Street treats clients. He wasn't impressed.

By Bruce Kelly
NEWS FIXED INCOME MAR 16, 2012
MF Global's remaining execs won't be awarded bonuses, trustee pledges

Louis Freeh, a former FBI director and MF Global trustee, said he would not recommend bonuses for the three executives who stayed on at the company to help unwind the complex transactions between and among the firm's entities.

By Liz Skinner
Janney signs more wirehouse advisers
NEWS PRACTICE MANAGEMENT MAR 16, 2012
Janney signs more wirehouse advisers

Peter Sampson, Kenneth Wiland Sr., and R. Morgan Purvis, as well as two assistants, joined the firm's Aiken, S.C., office from Morgan Stanley Smith Barney LLC, where they managed a combined $380 million.

By Andrew Osterland
NEWS WIREHOUSES MAR 16, 2012
James Gorman told Morgan Stanley staff not to circulate Op-Ed on Goldman

Morgan Stanley Chief Executive Officer James Gorman said he told staff not to circulate a Goldman Sachs Group Inc. employee's op-ed criticizing that firm and that it wasn't fair for a newspaper to publish it.

By Mark Bruno
Labor-market gains in U.S. boost consumer optimism
NEWS INDUSTRY NEWS MAR 16, 2012
Labor-market gains in U.S. boost consumer optimism

Claims for jobless benefits dropped last week to match a four-year low and U.S. consumer confidence rose to the highest since 2008, signaling an improving labor market may boost household spending.

By Doug Cubberley
Real story on inflation will soon be told: Arnott
NEWS INDUSTRY NEWS MAR 16, 2012
Real story on inflation will soon be told: Arnott

Inflation appears tame on the surface, but Robert Arnott remains an inflation hawk.

By Dan Jamieson
Americans: We're responsible for our financial well-being — just don't ditch Social Security
NEWS RETIREMENT PLANNING MAR 16, 2012
Americans: We're responsible for our financial well-being — just don't ditch Social Security

Also believe it's Uncle Sam's job to protect investors from fraud

By Mark Schoeff Jr.
NEWS INDUSTRY NEWS MAR 16, 2012
Oil price won't grease the skids for higher rates

By Andrew Osterland
Still no payment in Capital Analysts Ponzi settlement as firm readies sale
NEWS INDUSTRY NEWS MAR 16, 2012
Still no payment in Capital Analysts Ponzi settlement as firm readies sale

The story of Kenneth Wayne McLeod -- and the Ponzi scheme he engineered -- reads more like a screenplay than real life. But to the victims of the con man, the bizarre tale must feel like a nightmare.

By Bruce Kelly
NEWS INDUSTRY NEWS MAR 16, 2012
FBI: Stanford blew $20 million on yachts — and $379M on his B-D

Few of financier's investments turned a profit, special agent testifies; $7B hole

By John Goff