Investment News articles from February 2008

Investment News archives from February 2008

Closing quote.(Short Interests)
February 4, 2008... "Here's a $2 million check. You're willing to grow, right? My hair is green, right? -Steve Winks, principal with SrConsultant.com of Richmond, Va., saying that financial advisory firms know how to act motivated to build a business if National...

Mutual funds set reopening record; Market volatility creates opportunities.(News)
February 4, 2008... Byline: David Hoffman In a bid to take advantage of the stock market's volatility, mutual fund companies are reopening closed funds at a record pace. Last year, 120 fund share classes reopened to investors, the highest annual level...

Stephen McClellan Technology analyst turned author.(Newsmakers)
February 4, 2008... Byline: Dan Jamieson In late 2002, the stock market bubble had burst, the research scandal was concluding, and research departments across Wall Street faced scorn and budget cuts. To Stephen McClellan, a financial technology analyst, it...

Texas Tech creates joint business/planning master's program.(News)
February 4, 2008... Byline: Aaron Siegel In an expansion of its financial planning curriculum, Texas Tech University in Lubbock is launching a program in May leading to both a Master of Science degree in financial planning and a Master of Business...

Younger millionaires drawn to alternative investments; But older investors prefer more yield and better liquidity.(News)
February 4, 2008... Byline: Charles Paikert The rich are different from you and me, according to F. Scott Fitzgerald. But according to Northern Trust Corp.'s annual Wealth in America survey, younger millionaires are very different investors than those of...

Glutted fund market is slimming down; Launches slowed, mergers picked up in 2007.(News)
February 4, 2008... Byline: Sue Asci Overcrowding is behind a nearly 18% slump in the number of mutual funds launched in 2007 and a comparable percentage jump in those merged out of existence. Last year, 430 funds were launched and 337 funds were merged,...

Market's woes complicate retirement planning; Some investors will take less from their nest eggs - or keep working.(News)
February 4, 2008... Byline: Lisa Shidler Financial adviser Bryan Place has a client who had saved about $500,000 in assets and was planning to retire in 2008, but the recent market downturn has forced him to postpone his plans for at least a year. "It...

The ups and downs of going independent; How one wirehouse broker made the transition.(News)
February 4, 2008... Byline: Brooke Southall If Charles Massimo had it to do all over again, he still would choose to leave Smith Barney and become an independent broker. But his transition - from managing $80 million with a partner at a Manhattan branch...

U.S., Canada act to reduce "minitender' deals; Although legal, the low-ball tenders can deceive investors.(News)
February 4, 2008... Byline: Dan Jamieson Investors are still receiving "minitender" offers that try to get them to sell shares at below-market prices. The small-scale tenders first arose years ago as a way to acquire illiquid limited-partnership units,...

Montgomery to exit NFP Securities at end of month; Vacated post to be filled from within.(News)
February 4, 2008... Byline: Bruce Kelly Jeff Montgomery, chief executive of NFP Securities Inc., will resign at the end of the month and be replaced by the firm's president and chief operating officer, Daniel J. Young. Mr. Montgomery, who announced his...

New tools keep up with compliance; Online monitoring can flag policy breaches, encourage communication with clients.(Tech Tips)
February 4, 2008... Byline: Davis Janowski Technology to help automate and improve the compliance function may not ring a financial adviser's cash register, but it certainly can reduce the time-consuming and potentially costly problems that compliance...

NFP Corp.'s business model not positioned for long-term success, report concludes; Research study contradicts other analysts' findings.(News)
February 4, 2008... Byline: Brooke Southall The business model used by National Financial Partners Corp. to roll up financial advisory firms doesn't bode well for the long-term financial success of the company, according to a research report. The...

Naval officer returns to Schwab and gets standing ovations.(Short Interests)
February 4, 2008... Byline: Brooke Southall In recognition of serving in Afghanistan and Iraq, Navy Lt. Cmdr. Doug Beck received standing ovations from fellow executives of The Charles Schwab Corp. Mr. Beck, an intelligence officer, was gone from his...

Give Bernanke a break.(Viewpoint)
February 4, 2008... Wall Street pundits should lay off Fed Chairman Ben Bernanke and his Federal Reserve Board colleagues for being cautious with interest rate moves. The Fed's primary job is not to protect stock prices and bail out investors following bad...

Janus rebound in works; Firm shows inflows, strong performance, but advisers remain skeptical of revival.(News)
February 4, 2008... Byline: Sue Asci While more money flowed into Janus Capital Group's mutual funds in 2007 than out - an occurrence not seen since 2000 - advisers are skeptical about whether the once-troubled fund company has regained its footing...

Structured products flourish in today's 'choppy market'; Investment adviser area seen as 'Holy Grail' for future growth.(News)
February 4, 2008... Byline: Jeff Benjamin The structured-products industry has been relatively obscure among most U.S. investors and financial advisers, but lately, it is basking in the glow of a record-setting 78% increase in 2007 sales. The $114 billion...

Clients' No. 1 concern is retirement, notes study; The cost of health care and college tuition are major sources of angst.(News)
February 4, 2008... Byline: Lisa Shidler Saving a sufficient amount of money for retirement was the top concern of clients in a recent survey of accountants who provided financial planning services. Ninety-one percent of 427 accountants surveyed in...

Ameriprise earnings jump on popularity of proprietary funds; Broker-dealer posts 29% increase in 2007 profits.(News)
February 4, 2008... Byline: Brooke Southall Despite a tough stock market and a $3 million bond write-off, Ameriprise Financial Inc. managed to increase its earnings substantially last quarter - thanks in part to sales of proprietary products. The...

The 'schmeek' shall inherit the wholesaling world; Advisers' demand for information drives mutual fund sellers to become more knowledgeable.(News)
February 4, 2008... Byline: Sue Asci Meet the "schmeek.'' Financial advisers' increasing appetite for intricate details about the mutual funds and other investment products that they recommend to clients is forcing wholesalers back to school to learn how...

Insurer carriers fight to keep agents from leaving; Firms focus on retention and hiring of new blood.(News)
February 4, 2008... Byline: Darla Mercado Insurance carriers are attracting record numbers of new agents, but they are fighting to keep them as they lose top producers to independent firms and to retirement. And as banks expand their services, they will...

WisdomTree strikes deal with Dreyfus; Will co-brand, market international-cash, fixed-income ETFs.(News)
February 4, 2008... Byline: David Hoffman The minor-league status of WisdomTree Investments Inc. in the world of exchange traded funds could change following a deal struck last month with The Dreyfus Corp. In fact, the deal could be one of many between...

Making a new widow's life easier; The human element should be considered before developing a detailed financial plan.(Investment Strategies)
February 4, 2008... Byline: Kathleen M. Rehl When a husband dies, fear and uncertainty await the widow. Yet, this agonizing time is when crucial actions are taken. Many financial and legal issues that surround the death of a spouse will not wait until the new...

People.
February 4, 2008... The Centre for Fiduciary Excellence LLC of Toronto said that C. Frederick Reish, 63, has joined the Cefex Advisory Council, which was formed last year to guide the Cefex certification program. Mr. Reish is a lawyer and managing director of...

Colbert rages at 'financial adviser'.(Short Interests)
February 4, 2008... Byline: Aaron Siegel Comedy Central funnyman Stephen Colbert opened his show on Jan. 22 by expressing anger that his fictional financial adviser, "Gorlock,'' hadn't told him about the stock market plunge that occurred that morning. ...

Investment manager stays the course; Trying to pick stocks has become as difficult as 'driving at night with your lights off'.(Street Wise)
February 4, 2008... Byline: Jeff Benjamin The manager of the Aston/Veredus Select Growth Fund (AVSGX), B. Anthony Weber, knows that market conditions have been taking a toll on his investment strategy, but he insists that the validity of his approach remains...

Planning industry is ignoring HSAs, report says; Asset growth continues to be slow.(News)
February 4, 2008... Byline: Lisa Shidler While consumers have an interest in health savings accounts, only a handful of financial companies that provide HSAs promote the savings vehicle. According to a white paper, "Health Savings Accounts as Retirement...

House may take up proposal for disabled; Savings vehicle would establish tax-exempt accounts.(News)
February 4, 2008... Byline: Sue Asci A proposal to create a new savings vehicle for families of those with disabilities might be on the House agenda early this year. Inspired by the family of a child with Down syndrome, Rep. Ander Crenshaw, R-Fla., last...

Non-spouse rollover muddle lingers; Advisers are warned to be very careful, or the tax liabilities could be great.(IRA Alert)
February 4, 2008... Byline: Ed Slott If you're looking for a muddle, consider the status of the rule on non-spouse direct rollovers from company plans under the Pension Protection Act of 2006. Here's the background: The PPA included a provision that would...

Gazing at the new-product horizon; Look for several innovative variations on products that were launched in 2007.(Retirement Watch)
February 4, 2008... Byline: Andrea Trachtenberg The forces that drove the retirement marketplace in 2007 - the automatic enrollment and default option provisions of the Pension Protection Act of 2006, the aging baby boomers and a focus on the rollover market...

VAs can boost retirement returns, study finds; Contracts' consistent cash flow is becoming more appealing.(News)
February 4, 2008... Byline: Darla Mercado Variable annuities with guaranteed-minimum-withdrawal benefits allow investors to reduce risk and increase retirement income, according to a recent study. Paired with mutual funds in a portfolio, a VA can create a...

Tax plan could open investment door; Mortgage bonds would be exempt from AMT.(News)
February 4, 2008... Byline: Sara Hansard A provision in the economic-stimulus plan would raise the volume cap on mortgage bonds and exempt them from exposure to the alternative minimum tax, creating an opportunity for retail investors. Currently, the...

At the bell.
February 4, 2008... Adviser membership at FSI expanded in '07 The Financial Services Institute of Atlanta said Friday that it had 12,600 active financial adviser members as of the end of last year. The FSI added 7,892 new adviser members for the year and...

Life insurers use custom products to break into planning; Policies address clients' multiple financial needs.(News)
February 4, 2008... Byline: Darla Mercado Registered representatives are finding ways to address clients' multiple financial needs through the use of custom permanent insurance. Custom permanent-insurance policies permit reps to do more than sell the...

Prime numbers.
February 4, 2008... Go figure 988B: The number of gigabytes of digital information expected to be stored online on personal computers and on corporate servers in 2010, up from 161 billion in 2006 Source: International Data Group Inc. $219,200: The...

InvestmentNews adds features.(Viewpoint)
February 4, 2008... In a continuing effort to serve readers better, InvestmentNews has added a sorting function to the online version of its independent- broker-dealer profiles, enabling side-by-side comparisons of firms. At investmentnews.com/2008bdprofiles,...

Advisory firms seek to retain older advisers; Flexible hours, telecommuting become incentives.(News)
February 4, 2008... Byline: Andrew Coen Facing a shortage of young planners, some advisory firms are coming up with creative ways to retain older financial advisers. Some of the perks being offered include flexible work hours, the chance to telecommute...

Helping calculate the cost of kids.(News)
February 4, 2008... Byline: Sara Hansard Financial planners should show clients how child-care costs affect family budgets, according to Bob LeClair, who writes Bob LeClair's Finance and Markets Newsletter. "I suspect that most financial planners would be...

American Century is leader of online pack.(Short Interests)
February 4, 2008... Byline: Sue Asci When Henry David Thoreau gazed out at Walden Pond and thought, "Simplify, simplify,'' he probably never imagined that would apply to opening online accounts. But it did, leading American Century Investments to be named...

IN events.(Short Interests)
February 4, 2008... Feb. 13 Webcast: What Female Business Owners Want From Advisers Register to listen to our panel of leading female entrepreneurs discuss how advisers can win them over and retain their business, which services they need most and how advisers...

The week ahead.(Short Interests)(Calendar)
February 4, 2008... Byline: Bloomberg Feb. 4 The Investment Management Consultant Association's two-day 2008 New York Consultants Conference begins. Federal Reserve Governor Randall Kroszner will speak at the American Securitization Forum in Las...

Principal-protection funds boast set payouts, guarantees; Advisers are leery of the offerings from DWS Scudder.(News)
February 4, 2008... Byline: David Hoffman Two mutual funds that offer set payouts and principal guarantees have been launched, with more expected, but financial advisers think the guarantee is flimsy. DWS Scudder, the U.S. retail division of the asset...

Push for adviser SRO lacks factual underpinnings; Other voices.(Viewpoint)
February 4, 2008... Byline: Neil A. Simon We have searched in vain for the factual underpinnings of your Jan. 21 editorial, "Advisers need an SRO of their own.'' As if it is self-evident, you assert that if a [self-regulatory organization] "is an appropriate...

Tax rebates unlikely to bolster economy; Business tax breaks, however, might do the job, expert says.(News)
February 4, 2008... Byline: Sara Hansard The tax refunds that are part of the $150 billion stimulus package forged two weeks ago by President Bush and congressional leaders won't provide a big boost to the economy, but the package's tax cut for businesses...

Correction.(Correction notice)
February 4, 2008... In the independent broker-dealer profiles that ran in the Jan. 28 issue, ePlanning Securities Inc. of Roseville, Calif., was incorrectly listed as having zero representatives who produce more than $100,000. The actual number wasn't available.

InvestmentNews Online Opinion Poll.(Viewpoint)
February 4, 2008... Previously, we asked you: Do you think the $150 billion economic-stimulus package to which House leaders and President Bush agreed will be successful in warding off a recession? 67.5%: No 21.2%: Yes 11.3%: Not sure ...

How Lee Ainslie does it; The maverick hedge fund manager delegates and controls stock selection.(Adviser's Bookshelf)
February 11, 2008... Byline: Katherine Burton As [Lee] Ainslie [founder of Maverick Capital Ltd. of Dallas] began attracting assets and adding investment staff, he created a business model that differs slightly from those of most large funds, which generally...

Next Financial, Raymond James reach settlements; Banished broker costs firms nearly $850K; other cases pending.(News)
February 11, 2008... Byline: Bruce Kelly A broker who was recently booted from the securities industry has cost Next Financial Group Inc. and Raymond James Financial Services Inc. dearly - with the two firms paying out almost $850,000 to settle cases involving...

1031 exchanges yield income, write-offs; Market for exchanges grew to $4 billion in 2007, from $200 million in 2001.(Practice Management)
February 11, 2008... Byline: Richard Price The strategy of swapping investment properties is similar to the dreaded Yankee gift swaps, in which everyone buys a holiday present for someone else and then, in a lottery style face off, swaps it for something more...

When ETFs pass along gains; Exchange traded funds can minimize taxes, but that isn't always the case.(The Tax-Conscious Adviser)
February 11, 2008... Byline: Robert N. Gordon Investors often ask me why an exchange traded fund they own paid a big gains distribution. The answer is simple, but the lessons can affect the advice you give your clients. First, let's review ETF...

TD Ameritrade execs apologize to advisers; The firm acknowledges a series of service blunders in 2007.(News)
February 11, 2008... Byline: Brooke Southall Executives at TD Ameritrade Institutional last week spent much of their time apologizing to the 1,000 financial advisers who attended its Partnership 2008 conference. "We didn't have our finest hour'' in 2007,...

CRM Software set to release new version of Junxure; 'Triggering events' feature gets thumbs-up from some advisers.(Tech Update)
February 11, 2008... Byline: Davis D. Janowski Version 7.0 of Junxure, the office management and work flow automation software created by and for financial advisers, will be released in the next few weeks, and it is getting some positive early reviews. ...

LYDIAN MAKES ITS MOVE IN MIAMI; Bet that big rivals are vulnerable draws skepticism.(Special Report: Wealth Management)
February 11, 2008... Byline: Charles Paikert Can a boutique wealth management firm make it in a big-bank kind of town? Lydian Private Bank & Trust of Palm Beach, Fla., is placing a big bet that it can as it moves aggressively down the Gold Coast into...

MIAMI-DADE COUNTY STATISTICS.(Special Report: Wealth Management)
February 11, 2008... Population: 2007: 2,474,342 Median household income 2000: $35,995 2007: $45,328 2012: $52,871* Average household income 2000: $52,753 2007: $66,761 2012: $80,740* Total household income of $200K and...

FINRA board member's firm embroiled in muni fraud case; Jury awards plaintiff $1.2 million.(News)
February 11, 2008... Byline: Dan Jamieson The brokerage firm run by Duncan F. Williams Jr., a board member of the Financial Industry Regulatory Authority Inc., was ordered last month by a Tennessee jury to pay $1.2 million to Ruskin "Rusty'' Vest, an investor...

SEC mulls letting directors delegate some responsibilities; Plan would be a disaster for fund investors, critics say.(News)
February 11, 2008... Byline: David Hoffman The Securities and Exchange Commission is considering allowing mutual fund directors to delegate some of their duties, but critics say such a move will weaken the ability of directors to act as investor watchdogs. ...

Have a piece of Cake.(Short Interests)
February 11, 2008... Byline: Aaron Siegel In an effort to offer its portfolio-sharing platform to more people, Cake Financial Corp., a startup financial-networking website, is bringing its community investing approach to Facebook Inc. Placing the Cake...

Pioneer fund hits the big 8-0.(Short Interests)
February 11, 2008... Byline: Sue Asci If an investor had invested $1,000 in the Pioneer Fund when it was launched in 1928, his or her heirs would be millionaires today. Pioneer Investments of Boston will mark its 80th anniversary this week when Dario...

Legg Mason, Citibank team to offer funds to Chinese investors; Market assets expected to increase 24% a year, report finds.(News)
February 11, 2008... Byline: Sue Asci Legg Mason Inc. has partnered with Citibank (China) Co. Ltd. to launch mutual funds designed for retail investors in China. The partnership allows the firms to participate in a market that is estimated to increase...

Clinton's run for presidency may raise profile of stalled bill; Provision would provide tax incentive for annuities.(News)
February 11, 2008... Byline: Darla Mercado Sen. Hillary Clinton's bid for the White House may rekindle momentum behind a bill she co-sponsored last year that would offer a tax break on some annuities, according to a retirement trade group. The Retirement...

New mutual fund taps alternatives market; Objective is to develop portfolio that reduces downside risk.(News)
February 11, 2008... Byline: Liz Skinner A new mutual fund is purchasing alternative investments - a strategy designed to defy market volatility when stock and bond prices are plunging. The Seattle-based mutual fund company Accessor Capital Management LP...

Financial giants press for principles-based regulation; Group pushes agenda to strengthen U.S. financial markets.(News)
February 11, 2008... Byline: Liz Skinner The legislative priorities of the U.S. financial services industry are being set largely by America's economy and where it may be headed, according to an industry lobbying group representing 100 of the nation's largest...

NASAA outlines 2008 legislative agenda; Protecting state securities regulators' clout is top priority.(News)
February 11, 2008... Byline: Bruce Kelly State securities regulators have outlined a variety of initiatives for 2008 to protect investors, with their first priority being the defense of their own authority. The North American Securities Administrators...

Ameriprise requires advisers to attend technology boot camp; Firm spends more than $10 million to bring them to Minneapolis.(News)
February 11, 2008... Byline: Brooke Southall ***** Correction: An article on page 17 of this issue, "Ameriprise requires advisers to attend technology boot camp,'' quotes Ann Wasik of Ameriprise Financial Inc. of Minneapolis as saying that the company...

Brokers, advisers mulling job switch are on the rise; Many are dissatisfied with work environments, study concludes.(News)
February 11, 2008... Byline: Andrew Coen The number of financial advisers and brokers that were likely to consider switching firms almost doubled last year, according to National Financial Services LLC's third annual broker and adviser sentiment index. ...

Hedge fund advice from an old sage; In celebration of spring training, we interpret and apply the wisdom of Yogi Berra.(Investment Strategies)
February 11, 2008... Byline: Brad McMillan Because of the market volatility of recent days, determining which hedge funds will perform well is as difficult a task as it has ever been. To help with that, and in recognition that pitchers and catchers are...

Futures markets handicap winners of primaries; Speculators beat pundits at predicting election results.(News)
February 11, 2008... Byline: Jeff Benjamin Speculators seem to know more than political pundits when it comes to predicting election outcomes. That is suggested by presidential-candidate futures trading, which is transacted on a somewhat quirky, but...

Industry jobs score on pay-ranking list.(News)
February 11, 2008... Byline: Sara Hansard Three types of financial services industry jobs offer median average annual salaries that place them in the top 10 highest-paying jobs in the country. That is the finding of Laurence Shatkin, a senior product...

Prime numbers.
February 11, 2008... Go figure 37,258: The number of cyber-attacks on government and private networks last year, up from 4,095 in 2005. The increase can be attributed in part to an increased awareness of the problem. Source: Homeland Security Department...

BIG BANKS RULE DYNAMIC MIAMI WEALTH MARKET; Clients own local businesses, have international ties.(Special Report: Wealth Management)
February 11, 2008... Byline: Charles Paikert ajor banks and trust companies, led by Chicago-based Northern Trust Corp., dominate a dynamic wealth management market in Miami, characterized by strong international ties and a growing class of successful homegrown...

At the bell.
February 11, 2008... Stimulus package seen lifting GDP growth Gross-domestic-product growth will improve slightly in the third and fourth quarters as a result of the $150 billion-plus economic-stimulus package passed Thursday, Don Drummond, senior vice...

Vanguard edges American as top mutual funds seller; ETF sales push 2007 net inflows to $76.2B.(News)
February 11, 2008... Byline: Sue Asci Propelled by sales of its exchange traded funds, The Vanguard Group Inc. regained its status as the nation's top-selling fund company last year, edging past rival American Funds, which had been No. 1 since 2002. ...

Advisers mull options for insured muni bonds; Rating cuts for insurers could have spillover effect.(News)
February 11, 2008... Byline: Darla Mercado As the subprime crisis spreads to major municipal bond insurers, financial advisers are weighing how clients who own insured muni bonds should proceed. Late last month, MBIA Inc., an Armonk, N.Y.-based muni bond...

Showing a little faith.(Short Interests)
February 11, 2008... Byline: Matt Jacobs People are no longer content to merely walk with God. They want to invest with him, too. That is the reason why IW Financial has created two indexes founded on faith-based investment principles. "The entire...

IN events.(Short Interests)
February 11, 2008... Feb. 13 Webcast: What Female Business Owners Want From Advisers Register to listen to our panel of leading female entrepreneurs discuss how advisers can win them over and retain their business, which services they need most and how advisers...

The week ahead.(Short Interests)(Calendar)
February 11, 2008... Feb. 11 The Retirement Income Industry Association's fourth annual three-day conference on managing retirement income gets under way in Miami. St. Louis Federal Reserve Bank president William Poole will speak to the National...

People.
February 11, 2008... Jackson National Life Insurance Co. of Denver has promoted John Koehler to vice president of the retirement and wealth strategies group, a unit of Jackson National Life Distributors LLC. Mr. Koehler, 43, will lead a team of professionals...

MIAMI: A LATIN CAPITAL.(Special Report: Wealth Management)
February 11, 2008... Byline: Charles Paikert The international influence on Miami's wealth management market is profound, pervasive and diverse. Wealth managers at leading banks in the market estimate that approximately 20% of their business comes from...

New tax proposals target advisers; If Florida, Georgia pass legislation, tax could affect 9,000 firms.(News)
February 11, 2008... Byline: Sara Hansard In another twist on states' efforts to raise revenue, Florida and Georgia want to extend sales taxes to financial advisers and brokers. Advisers are mounting an effort to try to fight a proposal to be voted on...

Small-business loan brokerage offers may ensnare advisers; Officials concerned that advisers are being approached with 'easy money' propositions.(News Analysis)
February 11, 2008... Byline: Darla Mercado As small business owners scramble for funding in the wake of the subprime mess, a new credit-related problem may be emerging: small-business loan brokers paying insurance agents and independent financial advisers to...

Mr. Wirehouse CEO, tear down your wall; Thinking out loud.(Viewpoint)
February 11, 2008... Byline: Evan Cooper If you are a regular reader of InvestmentNews, you may have noticed that we rarely quote wirehouse advisers by name. It isn't because we don't ask for the names or that we don't want you to know who the advisers are....

MARK R. FETTING; Legg's new CEO has global-expansion plans.(Newsmakers)(Company overview)
February 11, 2008... Byline: Sue Asci Mark R. Fetting thinks that he can hit the ground running as the new president and chief executive at Legg Mason Inc. His appointment Jan. 28 ended a 10-month search for a successor to Raymond "Chip'' Mason, 71, whose...

Competitive yields make muni ETFs attractive; Bonds may offer a safe harbor in a stormy market.(News)
February 11, 2008... Byline: David Hoffman Exchange traded funds that invest in municipal bonds are looking more attractive these days, thanks mostly to their competitive yields. For example, on Feb. 1, 10-year U.S. Treasury bonds were yielding 3.62%. ...

Bush strives to make tax cuts permanent; Budget package also proposes lifetime savings accounts.(News)
February 11, 2008... Byline: Sara Hansard In the fiscal-2009 budget he submitted to Congress last week, President Bush made one last attempt to get Congress to make permanent his 2001 and 2003 tax cuts. In addition to the enactment of an immediate...

Annuities gain ground in retirement market; More companies offering income-guaranteed products to employees, report concludes.(News)
February 11, 2008... Byline: Lisa Shidler Despite initial concerns about portability, cost and complexity, annuities in defined contribution plans are slowly gaining momentum, according to a new report. The report, which was released late last month by...