Practice

Warns of Details In Reform Bill

Kim Wright-Violich is the woman behind the money at Schwab Charitable.

The Department of Labor is revising its guidance on investment advice in 401(k) plans by expanding its focus from independent advice to redefining fiduciary duty.

GE Funding Capital Market Services Inc., a subsidiary of General Electric Capital Corp., does not agree with the Securities and Exchange Commission’s plans to file charges against it in connection with an industry-wide investigation of guaranteed investment contracts and derivatives, but is discussing the matter, including a “potential resolution,” with SEC staff.

Putnam Investments is expanding its reach into the 529 college savings plan arena, after its 10-year partnership with Ohio Tuition Trust Authority comes to an end in October. Putnam is seeking new opportunities in the nationwide college savings marketplace, including new state partnerships and investment-only mandates, a spokesman from the firm said.

Declining annuity premiums mean insurers may have to rethink their annuities products in order to survive, according to a report by Scott Hawkins, vice president and insurance analyst at Conning Research & Consulting in Hartford, Conn.

Does it mean you have failed if you release clients who aren’t bringing enough revenue?

Observers say that the financial services company can thrive in a wirehouse-dominated market

The turmoil in the economy over the last few years has sent financial advisors scurrying for greener pastures and Baird has benefited as quality talent has flocked to the firm.

Senate Banking Committee Chairman Chris Dodd took to the floor Thursday to beg his colleagues on both sides of the aisle to stop adding more amendments, warning the process is in danger of spinning out of control.