Practice

Broker-dealers can offer financial advice that isn't in the best interest of their clients, and the insurance industry wants to keep it that way.

Mission statements are meant to develop a purpose for family wealth that all members can support.

Over the past decade, the firm's mission has remained the same: to help women build confidence and an open dialogue around financial responsibility and knowledge.

More than one in four, 28%, of wealthy Americans with at least $500,000 in investable assets and annual incomes of $150,000 or more have or plan to cut back on charitable giving due to the economic climate.

WASHINGTON — Where to put a proposed new consumer protection division appears to have become a game of musical chairs.

When people are afraid, they cut back on discretionary expenses, which is how most people view estate-planning services, one expert said.

The new hires bring an expertise in fixed income, including corporate bonds and mortgage-backed securities.

Advisors believe many Americans could need double or triple their savings targets.

Bruce Ferris, senior vice president of sales and distribution for Prudential Annuities, he has heard all the objections from wholesalers and advisers concerning variable annuities.

On Wednesday's split 3-2 vote along party lines, the Securities and Exchange Commission approved new restrictions on short sales that aim to improve investor confidence in the markets.