Practice

ICI Urges DOL to Make Electronic Delivery Default for 401(k)s

A former employee pleaded guilty Monday in federal court to helping Bernie Madoff create false records for investors.

State Street Bank this week announced plans to offer a cloud computing service geared to investors and investment professionals.

Forty-one percent of the more than 2,000 high-net worth individuals surveyed in the Barclays Wealth Insights report said they wish they had more control over their finances, which is critical since emotions can cost investors up to 20% in returns over a decade if they buy high and sell low.

Putnam, iPhone, 401(k), app, application

With implementation of the Dodd-Frank Wall Street Reform Act about to shower hundreds of new rules on capital markets, it's easy for other legislation to take on a cloak of invisibility.

Retirees and near-retirees are nearly panicked about their future. They fear they will live in poverty in their senior years, according to one-on-one interviews conducted with 264 Baby Boomers by Financial Engines, a supplier of automated investment advice online.

Financial advisers do their clients a grave disservice when they focus too closely on market returns instead of engaging in true wealth management, according to David Loeper, author of a new white paper called "Measuring Temperature with a Ruler: Is Your 'Wealth Manager' Really a 'Return Manager' in Disguise?" and his colleague Perry Chesney.

The Securities and Exchange Commission has adopted rules that could reward individuals who blow the whistle on illegal activity in securities markets, with bounties on successful prosecutions.

The Los Angeles City Council two weeks ago passed a $6.9 billion budget. The council closed a $336-million revenue shortfall by cutting police overtime pay and some fire engine teams.