Bank sales of variable annuities that invest in mutual funds continue to grow but are outpaced consistently by those of mutual funds. That’s a function of periodic adverse publicity combined with compliance hassles, observers say.
IRA investors have given at least $75 million to charitable organizations through June 4 as a result of a provision in the Pension Protection Act of 2006 that allows distributions from the qualified plans to be rolled over to a charity tax free.
NEW YORK — After receiving suggestions from financial professionals, the Social Security Administration has designated a section of its website specifically for advisers.
Hedge fund and private-equity fund managers would pay higher taxes under a bill introduced today.
The Online 401(k) announced today it is partnering with Expedition Payroll, which will allow the company to offer its clients more comprehensive payroll systems.
Congressional leaders are weighing a proposal that could raise taxes for private-equity firm managers.
Treasury Secretary Henry Paulson will propose an anti-money laundering framework for small banks tomorrow, The Wall Street Journal said.
Maurice R. Greenberg has sued current and former AIG directors and management, as well as PricewaterhouseCoopers.
Public-service spots starring “Savingsman” and his canine companion "401k-9" won three Emmy awards.
Insurers increasingly are using trail commissions for fixed annuities to give finan-cial advisers an additional incentive to cultivate long-term client relationships.
Postnuptial agreements are gaining popularity as an estate-planning tool, and some hedge funds and private-equity firms have asked their top executives to sign them to protect their companies in case of a messy divorce, according to attorneys and financial advisers.
CHICAGO — According to a recent report, there is ample opportunity for financial advisers to work with clients who own company stock using a little-known technique called net unrealized appreciation.
Borrowers are turning to other providers, but don’t expect banks to die out any time soon, the Fed chief said today.
AIG has sued former chairman Maurice R. Greenberg and ex-CFO Howard I. Smith for more than $1 billion in damages, published reports said.
The Hartford Financial Services Group Inc. has tapped Thomas M. Marra to take on the combined position of president and chief operating officer.
More insurers are offering riders that include long-term-care coverage in life insurance policies.
The IRS has put a damper on a tax saving strategy that has been used by some investors with fee-based accounts.
PHILADELPHIA — With help from Barclays Global Investors, a California 401(k) record keeper has created a new platform intended to break the mutual fund stranglehold on the 401(k) market.
One of AIG's subprime units settled with the Office of Thrift Supervision over inappropriate loans to some borrowers and excessive fees.
Prudential Financial today announced that it would close its equity research and trading business, with a loss of some 420 jobs.
