Practice

Despite the fact investors are more conservative after getting slammed by the recession, advisors and their clients are optimistic about the year ahead, with advisors looking to grow their business and improve their use of technology.

Axa Distributors, the annuity wholesale distribution unit of Axa Equitable, has created a comprehensive retirement income planning curriculum for financial professionals it is calling “Cracking the Code.”

Industry watchers' description of the plan to charge a 15-basis-point fee on net liabilities ranged from an annoying, yet manageable, cost to a misguided policy.

With it increasingly likely that a bipartisan reform bill in the Senate would not include an independent, powerful Consumer Financial Protection Agency, lawmakers are exploring alternatives.

Financial Engines, an online 401(k) financial advisory firm aimed at individual investors, is planning a $100 million initial public offering aimed at large institutions and wealthy investors.

By taking more of a hands off approach with its Merrill Lynch financial advisors, Bank of America Corp. saw “historically” low broker attrition in the fourth quarter and plans to add advisors this year, said Sallie Krawcheck, the president of Bank of America Global Wealth.

After spending the second half of last year exchanging its long-term expansion plans for extra capital, Boston Private Financial Holdings Inc. announced it received approval from the Treasury Department to begin repaying the $154 million in outstanding Series C preferred stock that was issued to the Treasury as part of its Capital Purchase Program.

Tarp, TLGP recipients to pay 15 basis point fee

The recession has sent even the wealthiest Americans running for cover, as affluent investors worry about their financial security.

WASHINGTON — House Financial Services Committee Chairman Barney Frank laid out his near-term agenda Wednesday, including a Jan. 22 hearing on executive compensation at financial companies and a Feb. 3 hearing on why banks are not lending more.