Liberty Mutual Group in Boston today announced that it will acquire all outstanding shares of common stock of Ohio Casualty Corp. of Fairfield, Ohio for $2.7 billion in cash, or $44 per share.
MetLife Inc., the largest U.S. life insurer by assets, is reaping the benefits from its growing international business.
INVEST Financial Corp. of Tampa, Fla., this morning said it has acquired the contracts of nearly 400 bank-based registered representatives of PFIC Securities Corp. of Franklin, Tenn., a subsidiary of Morgan Keegan & Co. Inc. of Memphis.
Amid protest from its advisers that they are being asked to assume too much liability, TD Ameritrade Institutional is going back to the drawing board with its new service agreement.
The rapid rise of equity markets over the past few months has introduced a new challenge to some financial advisers: keeping clients focused on long-term objectives.
New accusations against equity index annuity sellers may lead to regulatory grief comparable to what property-casualty firms suffered during the contingent- commission scandal a couple of years ago, industry observers say.
While advisers want their separately managed accounts made available on unified managed account systems, SMA managers fear that that will result in a loss of control over how their products are marketed.
Thomas James clearly is displeased with the growth at Raymond James Financial Services Inc.
Many top executives at large financial services companies saw a big jump in pay last year.
Many Employee Retirement Income Security Act fiduciaries, including plan sponsors, trustees and members of investment committees, are unaware of their significant responsibilities relating to the prudent selection and monitoring of plan asset investments, and the proper operation of their qualified plans.
IRVINE, Calif. — NASD is expanding the disciplinary information it discloses about brokers and firms.
NEW YORK — Paying attention to such details as retirement plan fees and documentation is a tough sell — especially when small- business owners have businesses to run.
NEW YORK — Looking to de-fuse a potential time bomb for independent-contractor broker-dealers, the Financial Services Institute Inc. wants the Securities and Exchange Commission to change its privacy rule.
WASHINGTON — The battle to help investors globalize their portfolios has received two more weapons.
SAN FRANCISCO — Wachovia Wealth Management missed the mark set by its parent company last year as earnings growth was dampened by investments and growth pains in that division.
OTTAWA — Combating the concentration of financial muscle among Canada’s Big Six banks, the nation’s financial advisers are showing modest success in their competitive solution — the creation of their own banks.
NASD has hired a former board member as a consultant, raising questions about conflicts of interest and concerns about how well small firms have been represented in the organization.
Industry leaders eagerly are awaiting a proposal that would allow mutual funds to provide a two-page prospectus in lieu of the lengthy one now required, a concept that could save millions of dollars in costs.
