Matt Ackermann

The company launched an FDIC-insured, high-yield online savings accounts and certificates of deposit.

The number of U.S. households with a net worth of $1 million or more, not including primary residence, increased 16% to 7.8 million last year, according to a report released Tuesday.

The deal would make the banking company the second largest asset servicing provider in Germany

American International Group Inc. announced Monday a definitive agreement to sell American Life Insurance Co. to MetLife Inc.

UBS will have to purchase up to $200 million in auction rate securities from investors who were not covered in UBS’ initial agreement with state and federal regulators.

In an effort to attract assets and customers, Bank of America Merrill Lynch has introduced the Financial Wellness Monitor to help employers score how well employees are doing at saving for retirement.

Rydex-SGI AdvisorBenchmarking’s monthly Advisor Confidence Index, which gauges advisor views on the U.S. economy and stock market, fell nearly 2% to 107.18 from a month earlier.

The New York company announced Monday that it has hired a former T. Rowe Price executive to lead its charge in the bank channel.

The deal, which is expected to close by the end of this year, would be the largest in AIG’s ongoing restructuring efforts.

The Delaware company has added 18 wealth managers in the region in the past five months and wants to continue to expand organically.

Despite an increase in affluent investor confidence, millionaires are “uneasy” about the economy.

The Boca, Raton, Fla., based company increased its total accounts 51% last year by undercutting larger competitors on price.

Last year, the company’s annuity sales rose 58.3% to $16.3 billion from a year earlier as fourth quarter sales rose 71.4% to $4.8 billion from the previous year.

Fidelity expects 401(k) assets to increase as more employers auto-enroll employees into 401(k) plans and utilize features that allow 401(k) contributions to be automatically increased annually.

While many financial advisors continue go to a mega-firm or go independent, some are finding homes in the community banking channel. But some analysts say it is difficult for most community banks to compete with larger financial services because of economies of scale.

But analysts say that the success it has had so far could be short-lived.

The firm has added two advisors in Oklahoma City, two in Charleston, S.C., two in St. Louis, two in Houston, one in a new office in Ogden, Utah, and one in San Diego.

But some analysts are skeptical of the impact its new online pricing is having.

The complaint, filed Thursday said the company “wasted” company assets and breached its duties to shareholders by setting aside 62% of net revenue for employee compensation.

While many providers jumped off the variable annuity bandwagon, Sun Life has decided to increase sales.