Practice

On June 15, 2012, Manulife Financial said that Craig Bromley will be appointed senior executive vice president and general manager, U.S. Division, and president of John Hancock Financial Services, effective September 1.

On the first day of June, the Dow Jones Industrial Average dropped 1.95%, the Standard & Poor's Index 2.18% and the and Nasdaq Composite Index 2.5%. In effect, stock market gains for the year were wiped out. The reason: Jobs.

Bank of America Merrill Lynch has introduced an iPad application for its corporate treasury clients using the online payment and invoicing system, Paymode-X.

More than 20% of male baby boomers surveyed have postponed their retirement, 27% don’t know when they will retire, and 20% haven’t even saved for retirement at all.

On June 14, 2012, Teaneck, NJ-based Cognizant Technology Solutions Corp, a financial services shop, today issued a press release about a new partnership with ING U.S. “to offer a comprehensive array of insurance business process services.”

“There is a tremendous generational shift we are starting to see already,” said Tom Nally, the new president of TD Ameritrade Institutional. “By the end of the decade, the next generation, will have over $28 trillion, up from $2 trillion. It is incredible.”

IRA expert Ed Slott explains the pros and cons of converting traditional IRAs to Roth IRAs for investors over 65 years of age.

Independence and technology are the leading factors for successful advisors, according to four advisors at TD Ameritrade Institutional’s Elite Summit, but some of the other factors were even more surprising.

“There are so many wonderful financial planners but so few of them do business financial planning,” says Karl Frank, a planner and founder of A&I Financial Services in Englewood, Colo., who specializes in entrepreneurial clients.

The Retirement Income Industry Association has appointed industry veteran and retirement specialist Karen Wimbish to its board of directors.