According to the Congressional Budget Office, the fiscal-2008 budget deficit projection is $407 billion, compared with fiscal 2007’s $161 billion deficit.
Another independent-contractor broker-dealer is being sold — and this time an insurance company is pulling the trigger on the deal.
Two divisions of Bank of America Corp. have agreed to buy back $4.5 billion in auction rate securities from individuals and small businesses across the country.
Manulife Financial Corp. of Toronto has named Donald A. Guloien to succeed Dominic D’Alessandro as president and chief executive officer.
Merrill Lynch & Co. Inc. of New York expects its retail client holdings of auction rate securities to fall to $7.5 billion by the end of the year, said Bob McCann, head of the firm's retail unit.
The Phoenix Cos. Inc. of Hartford, Conn., today launched its suite of living-benefit riders, with two new additions.
States and financial services companies promoting Section 529 college savings plans face an uphill battle this year as they kick off their traditional fall advertising campaigns.
Declining variable annuity sales will likely lead to enhancements to and new uses for VAs as carriers look for additional ways to appeal to high-net-worth investors.
MassMutual Financial Group is counting on the fact that consumers worry about whether they have made the right financial choice with its new campaign, Good Decisions.
To reinvest or not to reinvest — that's a question facing today's nervous investors as they wonder whether it's best to plow back dividend distributions or use the money elsewhere.
As leaner times sweep through the asset management industry, everything from travel expenses and catering services to payroll (read: bonuses) is on the chopping block.
I read Libby Dubick's Marketing Strategies column, "Grit your teeth and make that call," in the Aug. 19 issue on reaching out to clients during this volatile time, and I couldn't agree with her more.
Advisers are selling more insurance, particularly long term care insurance, according to the InvestmentNews 2008 Insurance Product Survey, which polled 445 financial advisers.
As part of an effort to make their mark on the industry, many members of the Financial Planning Association's NexGen group of young advisers have targeted the underserved middle market — those with less than $500,000 in investment assets — as a niche that they want to develop in the future.
While Generations X and Y consider earning money a top priority, many are not self-sufficient, while others fail to include retirement considerations in their financial plans, according to a new report.
As the comment period ends this Wednesday on an SEC proposed rule that would regulate certain index annuities as securities, independent distributors are gearing up in anticipation of the rule's enactment.
John H. Sykes, founder and chairman emeritus of Sykes Enterprises Inc., based in Tampa, Fla., will assume the role of chairman of the board of Gunn Allen Holdings Inc.,
The U.S. unemployment rate rose to 6.1% in August, marking the highest level since 2003 and the eighth consecutive month of slashed payrolls, according to the Department of Labor.
Bank of America Corp. said yesterday that it is ready to settle with state and federal regulators over a probe into its marketing of auction rate securities.
Sun Life Financial Inc.’s U.S. division has launched its charitable estate planning campaign to teach advisers and clients about using life insurance for charitable purposes.
