Portfolio

Connecticut's financial hub is struggling to rebound in the wake of the recession, but planners hope the area's relatively low real estate rates and high vacancies could attract jobs back to the area.

Overall sales of annuities though bank holding companies were up slightly at $2.62 billion in 2009, according to the latest Michael White-American Bankers Insurance Association Bank Annuity Fee Income Report. The results, however, were skewed somewhat by BHC-in-name-only Morgan Stanley.

Women are living longer, but that doesn’t necessarily mean they are prepared for the risks of longevity.

Two veterans of the hedge fund world are touting a product they say lets advisers focus less on investment decision-making and more on business development and client service.

Jackson National Life Insurance has expanded the sub-accounts available for its variable annuities and variable universal life products with the addition of six of the funds in the American Funds Insurance Series.

Ameriprise Financial has put the finishing touches on its nearly $1 billion purchase of Bank of America’s long-term asset management business Columbia Management. The original agreement dates back to last September.

Working within existing regulations for 401(k)s and other defined contribution plans, Nationwide Financial Services is proposing 401KIncome, a new choice for workplace savings that includes an annuity option.

Putnam Investments has appointed Kelly Marshall as head of investment product management.

With the fresh spring breeze may come a breath of fresh air for The Hartford Financial Services Group Inc., which this week reported a first-quarter profit and improved investment results. This is particularly good news for the insurer, which earlier this month repaid $3.4 billion in Troubled Asset Relief Funds.

Bank of America’s U.S. Trust unit is embarking on a new advertising campaign aimed at ultra-high-net-worth individuals. The “What Is Worth?” campaign is an attempt to demonstrate to potential clients U.S. Trust expertise in managing both their tangible and intangible assets.