Investment News articles from October 2008

Investment News archives from October 2008

Correction.(Correction notice)
October 6, 2008... In a story in the Sept. 29 issue, "Advice business is bright spot amid gloom,'' John Henry McDonald, president of Austin (Texas) Asset Management Co., said that a nearby branch of Detroit-based H&R Block Financial Advisors Inc. is expected to...

What's new on investmentnews.com.(Short Interests)
October 6, 2008... /WealthTrack Robert Doll of BlackRock on today's uncharted investment landscape. /OnRetirement When Roth IRA conversions don't work. /INPractice How clients can help you communicate. Top web stories viewed Sept. 26-Oct. 2 1. AIG...

Online opinion poll.(Short Interests)
October 6, 2008... Previously, we asked you: Do you have faith in Treasury Secretary Henry Paulson's ability to lead the economic bailout? No: 52.4% Yes: 47.6% Vote now! Visit investmentnews.com/poll to respond to this week's question.

Closing quote.(Short Interests)
October 6, 2008... "It's like the day after Thanksgiving right now; everything is on sale." -Steven Elwell, a financial planner with Schroeder Braxton & Vogt Inc. in Amherst, N.Y., who doesn't count himself among the market's bears and said that he is already...

Bailout's revival wins kudos from advisers; Financial rescue bill seen by many as necessary.(News)
October 6, 2008... Byline: Janet Morrissey Financial advisers, fund managers and others in the financial services industry breathed a huge sigh of relief Friday as they watched the House of Representatives pass a revised version of the $700 billion financial...

Prime numbers.
October 6, 2008... Go figure 5%: The percentage of U.S. employers who told workers to take an unpaid leave of absence as a cost savings measure during the last six months. Source: CareerBuilder.com 64.2%: The percentage of the U.S. Treasury's...

Government's bailout could present a buying bonanza; Investor returns on mortgages could top those of the S&L rescue.(News)
October 6, 2008... Byline: Janet Morrissey The government's financial-bailout plan could present a buying opportunity for savvy investors interested in buying troubled mortgages and distressed mortgage-related securities on the cheap. In fact, some...

At the bell.(News)
October 6, 2008... Schwab opts for guaranty program All Schwab money market funds will participate in the temporary guaranty program for money funds announced by the Department of the Treasury on Sept. 19, Charles Schwab & Co. Inc. of San Francisco said in a...

People.
October 6, 2008... MFC Global Investment Management (USA) LLC of Toronto has added Reid A. Kilberg, 38, to its sales team as managing director. He is responsible for institutional sales and business development. Previously, Mr. Kilberg worked at Sit...

Taking it to the Street.(Short Interests)
October 6, 2008... Byline: Dan Jamieson Environmental activists want the broken financial system fixed to their liking. To make their point, a group of protesters organized by the San Francisco-based Rainforest Action Network last week scaled the...

Even in troubled times, it's all about management; Pershing exec Mark Tibergien warns advisers not to lose sight of business processes amid turmoil.(News)
October 6, 2008... Byline: Jed Horowitz The chief executive of Bank of New York Mellon Corp.'s custodial unit has a sober message for owners of independent advisory firms - and it is even more difficult to hear amid a financial crisis. "What got you here...

ADMINISTRATION'S RATING DROPS FROM A YEAR AGO; More than half surveyed in 2008 gave Congress the lowest score.(Special Report: Industry Attitudes)
October 6, 2008... Byline: Sara Hansard Financial advisers are still supportive of the Bush administration, but their view has clearly worsened as the economy experiences more turmoil. In the InvestmentNews annual Industry Attitudes survey, conducted...

RESPONDENTS: REVENUE INCREASE OF LESS THAN 10; Advisers held clients' hands a lot, even prior to the financial crisis.(Special Report: Industry Attitudes)
October 6, 2008... Byline: Charles Paikert According to key findings from the InvestmentNews annual Industry Attitudes survey, which was conducted just before the market meltdown in September, nearly three-quarters of advisers who responded said they'd added...

Flight to Treasuries may spell disaster for investors; Financial bailout will likely spur equity uptick.(News)
October 6, 2008... Byline: David Hoffman Investors fearing a market collapse are running into U.S. Treasuries, but they may soon rue the day they let fear dictate their investment decisions. The financial rescue plan, which Friday was passed by Congress...

First Eagle stars begin running their own funds; Two managers launch offerings for International Value.(News)
October 6, 2008... Byline: David Hoffman Two members of the team responsible for the success of the First Eagle Funds Group began running their own funds last week. Charles de Vaulx and Chuck de Lardemelle started Wednesday as co-managers of the IVA...

Advisers considering Shariah mutual funds; Strictures help clients sidestep problems in financial sector.(News)
October 6, 2008... Byline: Darla Mercado With stocks falling, credit tightening and the economy in a tailspin, mutual funds that comply with Shariah, or Islamic law, are becoming more appealing to some advisers. "I dipped my toe into a Shariah mutual...

Can reps who stay thrive in banks' culture? Bank-brokerage model puts less emphasis on sales and payouts.(News)
October 6, 2008... Byline: Darla Mercado Wirehouse brokers whose firms have been taken over by banks may face culture shock if their new corporate parents decide to run the acquisitions like a traditional bank brokerage, observers say. In exchange for...

VALUE PICKED TO OUTPERFORM GROWTH OVER 12 MONTHS; Survey respondents were already seeking shelter before the market meltdown.(Special Report: Industry Attitudes)
October 6, 2008... Byline: Jeff Benjamin A shaky economy and a volatile stock market has led advisers to have a bias toward value stocks in the year ahead, according to the 2008 InvestmentNews Industry Attitudes survey. This year's survey was conducted...

CAUTION PREVAILS WHEN SPENDING RETIREMENT ASSETS; Overwhelming majority of advisers suggest withdrawal rates of less than 6%.(Special Report: Industry Attitudes)
October 6, 2008... Byline: Lisa Shidler Advisers are doing their best to keep clients on a short leash when it comes to spending down their retirement savings. Some 92.6% of advisers who responded to the eighth annual InvestmentNews Industry Attitudes...

When the shoemaker goes barefoot; Just Thinking.(Viewpoint)
October 6, 2008... Byline: Jim Pavia "How does this financial mess affect me? Should I be worried? I can't make sense of all of this stuff without Rob. I really miss him.'' That was the frightened voice message I received last week from my 81-year-old...

Advisers to make funds transparent to avoid suits; Market turmoil has meant more scrutiny of 'cash buckets'.(News)
October 6, 2008... Byline: Lisa Shidler Since the financial crisis shined a harsh light on the viability of stable-value and money market funds, advisers who counsel employers on their 401(k) plans are taking a closer look at these investments. Lawsuits...

Adviser gives back, with flying colors; Phil Eggers shuttles missions of mercy.(News)
October 6, 2008... Byline: Charles Paikert Ever since he was a young boy watching planes roar above the farms of Council Bluffs, Iowa, with his dad, Phil Eggers has been fascinated by airplanes. Thanks to his success as a financial adviser, Mr. Eggers, a...

Even the rich are worried about the state of Wall Street; Wealthy investors are cutting back on stocks and alternatives.(News)
October 6, 2008... Byline: Charles Paikert High-net-worth clients aren't immune to having serious concerns about their finances because of the tumultuous economy, according to financial advisers. "Folks are starting to worry about principal at rates that...

Suds stocks' flat returns go down smooth; Share performance of beer brewers beats dismal S&P 500.(News)
October 6, 2008... Byline: Liz Skinner Beer drinkers are keeping their mugs full even as the economy heads south and Wall Street suffers week after week. Market veterans say beer stocks and other so-called sin stocks outperform the market during periods...

How the survey was conducted.(Special Report: Real Estate)
October 6, 2008... Data for this Pensions & Investments directory were compiled from questionnaires completed by real estate investment managers. Unless otherwise noted, real estate assets are as of June 30 and reported net of leverage, including...

REIT ASSET GAINS DO AN ABOUT-FACE; Worldwide assets decline 8.4% only a year after big increase, but U.S. institutional assets rise 5%.(Special Report: Real Estate)
October 6, 2008... Byline: Arleen Jacobius Managers of real estate investment trust securities saw their total assets drop 8.4% to $229 billion in the 12 months ended June 30. That is a harsh reversal from the 29% gain in the previous year's survey of the...

A $1 TRILLION MILESTONE; Real estate assets run by money management firms hit all-time high despite decline in pace of growth.(Special Report: Real Estate)
October 6, 2008... Byline: Arleen Jacobius Real estate managers' total assets, excluding real estate investment trusts, crossed the $1 trillion mark for the first time in sister publication Pensions & Investments' annual survey of the largest real estate...

Intermediaries speak out.(Short Interests)
October 6, 2008... Byline: Sue Asci Despite the recent market upheaval, more financial intermediaries are increasing their investments in equity funds than are decreasing them, according to a survey by kasina LLC. Twenty-nine percent of surveyed...

REAL ESTATE IMPACT TO BE 'MASSIVE'.(Special Report: Real Estate)
October 6, 2008... Byline: Arleen Jacobius The credit collapse and the ensuing de- leveraging from financial institutions are expected to have a colossal impact on the real estate investment market. If industry executives are right, fortunes could be...

Rivals swoop to snag business from AIG; Insurers raise capacity, bombard brokers with coverage options.(News)
October 6, 2008... Byline: Roberto Ceniceros While American International Group Inc. works to reassure policyholders of the financial strength of its insurance units, competing underwriters are looking to pick up business from any clients that remain leery...

New Putnam CEO Reynolds gets off to strong start; But clients want more information about long-term plans.(News)
October 6, 2008... Byline: Douglas Appell Robert L. Reynolds, Putnam Investments' recently installed chief executive, has received high marks for decisive action to protect investors in an institutional money market fund awash in redemptions, but clients say...

Health care cost increases ease; Consumer-driven plans gain in popularity among employers.(News)
October 6, 2008... Byline: Joanne Wojcik While health care cost increases continue to outpace inflation, costs are rising at a far more moderate pace than a few years ago, according to two surveys released last month. The surveys - one by the...

Target date funds set to surpass $1T by 2012; Vehicle's popularity in DC plans seen as fueling growth, concludes report.(News)
October 6, 2008... Byline: Lisa Shidler Target date mutual funds are on track to amass $1.1 trillion in assets by 2012, up from about $277 billion today, according to a recent report from Cerulli Associates Inc. Much of that growth will come as target...

Investments for the faint of heart; Low-risk SIM fund preserves principal, provides guarantee.(News)
October 6, 2008... Byline: Sue Asci Launching a fund amid market turmoil may be a challenge, but one fund creator sees opportunity with a fund designed for the risk-averse. The S&P 500 Capital Appreciation Fund, offered by Structured Investment...

Mutual funds prepare confidence-building ads; The message is safety and security as investors quiver.(News)
October 6, 2008... Byline: Sue Asci In the wake of plunging investor confidence, mutual fund firms have developed advertising messages that stress solidity. "There is so much speculation in the market that we wanted to have something to get front and...

Wachovia advisers get whiplashed; Will they be part of Wells Fargo, stand alone or be claimed by Citigroup?(News)
October 6, 2008... Byline: Dan Jamieson and Jed Horowitz The sighs of relief emanating from Wachovia Securities LLC brokers were almost audible early Friday morning when the firm's parent said that it intends to sell itself to Wells Fargo & Co. and scuttle a...

A necessary step forward, with caveats.(Viewpoint)
October 6, 2008... After turning down the administration's rescue bill last Monday, then watching the Senate pass its own version Wednesday, the House agreed Friday that the nation's financial system needs a federal infusion. The bill, which President Bush...

Conseco's LTC policyholders face benefit cuts, or worse; Troubled insurer plans to move policies into an independent trust.(News)
October 6, 2008... Byline: Darla Mercado The benefits of some 164,000 long term care policyholders at Conseco Senior Health Insurance Co. may be endangered as they are moved to an independent trust. The move has observers thinking about the fate of...

Advisers urge clients to bolster their cash reserves; As the crisis deepens, planners are telling clients to work longer.(News)
October 6, 2008... Byline: Janet Morrissey The worsening housing crisis and unprecedented unraveling of the financial services sector is causing many financial planners to recommend to clients that they boost emergency cash reserves and, in some cases, delay...

Cartoonish contest.(Short Interests)
October 6, 2008... Byline: Andrew Coen A British financial services company has found a colorful way to honor its 10th anniversary by sponsoring a contest that calls on people to determine from clues in a cartoon some of the major financial events that...

Some criticize subpar municipal bond disclosure; Growing demand for financial data underscores problem.(News)
October 6, 2008... Byline: Dan Jamieson Critics are decrying the sorry state of municipal bond disclosure. A detailed study of disclosure compliance released last month by DPC Data Inc. of Fort Lee, N.J., found that 25% of issuers are in "chronic...

IN events.(Short Interests)
October 6, 2008... Oct. 7 Special adviser-to-adviser webcast: What this crisis means for long-term investing Join some of the nation's leading investment strategists and portfolio managers as they discuss this timely issue. Panelists: Dr. Robert J....

The week ahead.(Short Interests)(Calendar)
October 6, 2008... Oct. 6 The four-day annual conference of the Financial Planning Association ends tomorrow in Boston. A report on the amount of net stripping of Treasury securities for September will be released at 3 p.m. ET. Oct. 7 ...

Short sellers cry foul on SEC ban; New rule requiring weekly disclosure raises ire of hedgers.(News)
October 6, 2008... Byline: Jeff Benjamin Hedge fund managers and other short sellers will have to continue to work around an emergency SEC rule that prohibits short selling of more than 800 banks and related financial companies - but the prospect of a...

ADVISERS RATE COX SAME AS LAST YEAR, SURVEY SHOWS; More than three-fifths gave him a 3 out of 5.(Special Report: Industry Attitudes)
October 6, 2008... Byline: Sara Hansard Securities and Exchange Commission Chairman Christopher Cox may be taking fire for not doing more to prevent the financial crisis, but investment advisers thought he was OK before the turmoil of the past few weeks. ...

Treasury showing young adults how to protect their credit; Humiliation, shock among the tactics in ad campaign.(News)
October 6, 2008... Byline: Liz Skinner Many young people don't know about the implications of bad credit, so Uncle Sam is reaching out to explain it to them in their own language. The Department of the Treasury is sponsoring a $750,000 marketing...

New advisers might have trouble finding jobs; Crisis seen as 'great learning opportunity'.(News)
October 6, 2008... Byline: Aaron Siegel It might be more difficult to get a financial adviser job, and those who do might find themselves working as registered investment advisers, according to experts and advisers discussing the new job landscape after the...

With no deal in sight, AIG advisers ready to jump ship; Giant FSC group rumored in talks to join LPL Financial.(News)
October 6, 2008... Byline: Bruce Kelly If the AIG Advisor Group is not sold soon, representatives and advisers will jump ship to find stability elsewhere, diminishing the value of its three broker-dealers, industry executives and recruiters said last week....

Advice business is bright spot amid gloom; Financial firms plan fewer hires, but advisers buck trend.(News)
October 6, 2008... Byline: Andrew Coen ***** Correction: In a story in the Sept. 29 issue, "Advice business is bright spot amid gloom,'' John Henry McDonald, president of Austin (Texas) Asset Management Co., said that a nearby branch of Detroit-based...

Edited transcript.(Round Table: Broker-Dealer of the Future)(Company overview)
October 13, 2008... The following is an edited transcript of the round-table discussion. It was moderated by InvestmentNews news editor Bruce Kelly and InvestmentNews reporter Jed Horowitz. InvestmentNews: What does the recent economic turmoil mean for the...

What's new on investmentnews.com.(Short Interests)
October 13, 2008... /WealthTrack Robert Shiller, professor of economics at Yale University, discusses the frozen credit markets. /whitepaper The four pillars of U.S. retirement. /INPractice Crisis communications. Top web stories viewed Oct. 4-9 1....

Online opinion poll.(Short Interests)
October 13, 2008... Previously, we asked you: Do you have faith in Treasury Secretary Henry Paulson's ability to lead the economic bailout? Yes: 43.9% No: 56.1% Vote now! Visit investmentnews.com/poll to respond to this week's question.

Closing quote.(Short Interests)
October 13, 2008... "I don't have to watch "Saturday Night Live' anymore -- I just watch these board meetings." -Carl Icahn, chief executive of Icahn Enterprises LP in New York, on company boards. Page 28

Correction.(Correction notice)
October 13, 2008... An article in the Oct. 6 issue, "Investments for the faint of heart,'' reported that the returns of principal-protected securities are taxed as ordinary income. This isn't always the case. While some principal-protected securities are taxed as...

Hard times are forcing parents to cut back on college saving; 529 sales drop; further decline expected.(News)
October 13, 2008... Byline: Charles Paikert The nation's faltering economy is forcing many parents to put off saving money for their kids' college education. In the first six months of the year, net sales for Section 529 college savings plans fell by more...

Icahn sees 'rough times' ahead; But also opportunities for those with staying power.(News)
October 13, 2008... Byline: Janet Morrissey Billionaire investor Carl Icahn said that the country is in the midst of its worst financial crisis ever, but still sees some opportunity for investment. "This one is more unique and more worrisome [than...

Kansas State University.(Special Report: Next Generation of Advisers)
October 13, 2008... Location: Manhattan, Kan. Chartered: 1863 Type: Public state university Chancellor: John Wefald Colleges: Agriculture; architecture, planning and design; arts and sciences; business administration; engineering; human ecology;...

KANSAS STATE UNIVERSITY TRAINS FINANCIAL PLANNERS; Advanced degrees, international study are part of program.(Special Report: Next Generation of Advisers)
October 13, 2008... Byline: Aaron Siegel Located near the geographic center of the United States amid miles of corn fields and farms, the Institute of Personal Financial Planning at Kansas State University prepares students from across the country to become...

FINANCIAL PLANNING STUDENTS ENTER CAREER FOR DIFFERENT REASONS; From accounting to teaching, end-goals also are diverse.(Special Report: Next Generation of Advisers)
October 13, 2008... Byline: Aaron Siegel Interviews with three students in Kansas State University's financial planning program revealed that all of them had different motives for entering the profession. Seniors Dustin Furrey and Jessica Heath each...

SEC criticized for poor oversight of brokerage firms; Inspector general's report stokes concern about more regulation.(News)
October 13, 2008... Byline: Sara Hansard In the wake of a negative report on the Securities and Exchange Commission's oversight of brokerage firms, the brokerage industry is bracing for tougher regulation. The report, which was released Sept. 25 by the...

Crisis + fear = opportunity for advisers.(Viewpoint)
October 13, 2008... Now is the time for financial planners and investment advisers to demonstrate that they are what they have always claimed to be: trained, capable, cool-headed professionals. When all about them are losing their heads, these professionals must...

IN events.(Short Interests)
October 13, 2008... Oct. 21 Adviser-to-adviser webcast: The art of actively trading ETFs Learn how to buy and sell exchange traded funds. Panelists: Marvin Appel, James Lowell III and Thomas F. Lydon Jr. Moderators: Evan Cooper, InvestmentNews deputy...

The week ahead.(Short Interests)(Calendar)
October 13, 2008... Oct. 13 Stock and futures markets are open on the Columbus Day holiday. Oct. 14 The Center for Due Diligence's 2009 Advisor Conference continues through tomorrow in Scottsdale, Ariz. The keynote speaker today is Don Trone,...

LPL strategist Kleintop aims to soothe fears; Late addition to the FPA conference agenda believes that market worries may be overblown.(News)(Calendar)
October 13, 2008... Byline: Jeff Benjamin In an attempt to put the financial crisis into perspective, Jeffrey Kleintop, chief market strategist with Boston-based LPL Financial, told financial advisers at the Financial Planning Association's annual conference...

Bailout won't stave off financial crisis, some say; Government must buy troubled assets, infuse capital, say some.(News)
October 13, 2008... Byline: Sara Hansard The government will need to do more than cough up $700 billion for a rescue package if it wants to stem the burgeoning financial crisis, economic observers agree. "This is going to be a complete disaster,'' said...

Rescue law requires cost basis reporting; Bailout mandates disclosure to IRS for brokers, fund firms.(News)
October 13, 2008... Byline: Sara Hansard Under the financial-rescue law signed Oct. 3 by President Bush, brokerage firms and mutual fund companies must report their customers' cost basis when securities are sold. The provision was included in the...

FPA chapter creates planning ambassadors.(News)
October 13, 2008... Byline: Deborah Nason A public education program, jointly developed by the Financial Planning Association of New York and the Borough of Manhattan Community College, is creating a special corps of college-age advocates to spread the gospel...

Financial crisis forces workers to rethink retirement, surveys show; Drop in assets, low savings rate take luster out of golden years.(News)
October 13, 2008... Byline: Lisa Shidler For many workers nearing retirement, the economic malaise that is fast becoming a pandemic is causing them consider delaying their retirement, two surveys showed. A survey of more than 450 people 45 and older who...

FRC founder launches financial consulting firm; New company poses competition to the research firm.(News)
October 13, 2008... Byline: Sue Asci Neil Bathon, founder of Financial Research Corp., is launching yet another financial consulting and research firm. Two weeks ago, he opened the doors to Fuse Research Network LLC. The Boston-based company will compete...

Deflation is in the air, Putnam investment chief says; Precious metals, high-quality government bonds are now his favorites.(News)
October 13, 2008... Byline: Darla Mercado Inflation is no longer the nation's chief economic problem; it is deflation, according to Jeffrey L. Knight, deputy head of investments and chief investment officer at Putnam Investments of Boston. "We have to...

No clear winners or losers in software showdown; Advisers attending FPA panel would have liked to see more direct comparison between products.(News)
October 13, 2008... Byline: Davis D. Janowski About 300 financial advisers packed the meeting room for the Financial Planning Software Showdown during the Financial Planning Association's national conference in Boston last week. Despite initial technical...

Building a 'sportfolio'.(Short Interests)
October 13, 2008... Byline: Andrew Coen Those who are fuzzy about how the stock market works can now learn the fundamentals of investing by relating it to sports. On Oct. 1, OneSeason.com launched a sports trading platform that has users build a...

Lincoln losses seen as Sun Life distribution arm's gain; Executives decamp to Canadian insurer's U.S. business.(News)
October 13, 2008... Byline: Darla Mercado The hiring of three former Lincoln National Corp. executives at Sun Life Financial Inc. is expected to strengthen the distribution arm of Sun Life and increase its U.S. profile, according to industry experts. The...

Market meltdown tests advisers; Historic decline prompts panicked client calls.(News)
October 13, 2008... Byline: Janet Morrissey More than 39% of financial advisers said they had increased their clients' cash allocation in the past two weeks, according to an InvestmentNews survey taken Friday. In addition, 40.2% of the 766 advisers who...

AIG Advisor does damage control; Firm looks to keep reps as parent seeks buyer for three broker-dealers.(News)
October 13, 2008... Byline: Bruce Kelly Larry Roth, chief executive of AIG Advisor Group, is assiduously trying to convince financial advisers to stay in their seats while the firm's parent - American International Group Inc. of New York- attempts to find a...

SEC seen unlikely to suspend fair value; Such a move would not be in best interests of investors, experts say.(News)
October 13, 2008... Byline: Janet Morrissey It is highly unlikely that the SEC will tell Congress that "mark-to-market'' accounting should be suspended or scrapped when it finishes its 90-day study of the practice, according to industry observers. "It...

Discount gap widens on closed-end funds; Economic malaise drives prices 16.06% below NAV, the deepest level in more than a decade.(News)
October 13, 2008... Byline: David Hoffman Closed-end funds are trading at discounts not seen in more than a decade, giving savvy investors plenty of opportunity to snap up a portfolio of securities for less than what those investments are actually worth. ...

New association to cater to 'exceptionally wealthy'; Group to focus on investing, peer-to-peer dialogue.(News)
October 13, 2008... Byline: Charles Paikert There are already plenty of associations for wealthy individuals and family offices, but Angelo Robles, a Greenwich, Conn.-based consultant and former insurance executive, is betting that there is room for yet...

'Unretirement' wins fans.(Short Interests)
October 13, 2008... Byline: Darla Mercado Mountains of bills and employee benefits aren't the only reasons workers stay at their jobs after 67. Working also helps them keep their minds engaged. That was the finding of Toronto-based Sun Life Financial...

At the bell.(News)
October 13, 2008... Barclays sees job cuts of 3,000 in Lehman buy In the wake of its acquisition of New York-based Lehman Brothers Holdings Inc.'s North American operations, Barclays Bank PLC of London plans about 3,000 job cuts from both companies by the end...

Wachovia reps welcome takeover by Wells Fargo; Uncertainty over firm's future lifts in wake of Citi's decision to end its acquisition bid.(News)
October 13, 2008... Byline: Dan Jamieson Brokers at Wachovia Securities LLC are relieved that the back-and-forth saga over the fate of their parent company has ended. Late last Thursday, Citigroup Inc. of New York said that it was ending talks with Wells...

BofA brokers to get new workstations.(Tech Update)
October 13, 2008... Byline: Davis D. Janowski From a technology standpoint, brokers at Bank of America Corp. are sitting pretty. The bank's acquisition of Merrill Lynch & Co. Inc. of New York means that they will have access to workstations with features that...

Many ARS holders find silver lining; For some trapped in auction rate securities, above-market returns come as welcome surprise.(News)
October 13, 2008... Byline: Jed Horowitz One of the great ironies of the market cataclysm is that investors stuck with auction rate securities - among the earliest victims of the global credit freeze - are now enjoying some of the fattest returns. While...

Let clients do the work.(Short Interests)
October 13, 2008... Byline: Andrew Coen Referrals are the best way for advisory firms to gain new clients, but many advisers are uncomfortable asking for them, according to Martin R. Baird. To solve the problem, his company, Annapolis, Md.-based Robinson...