Mutual fund companies and the SEC are watching developments at General American Life Insurance Company of St. Louis, Mo. A handful of fund companies, including OppenheimerFunds of New York, Federated Investors of Pittsburgh, Northern Trust Corp. of Chicago and Alliance Capital Management LP of New York, hold in their money market funds, short-term funding agreements issued by General American. The firm was placed under the supervision of Missouri insurance regulators Aug. 11. Representatives of the funds said they expect their investments will be repaid. "It's illiquidity, not insolvency," said J.T. Tuskan, a spokesperson for Federated. The SEC is monitoring the situation, a spokesperson said.
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Drive time with Alex Lundgren and other financial advisors helped spur a niche serving Micron employees in Idaho.
October 5 -
Financial Planning is seeking candidates under the age of 40 for its annual awards recognizing advisor employees at both wirehouse and regional firms for industry-leading production.
October 5 -
Many wealthy retirees hesitate to spend their savings. Advisors share how budgeting and cash flow planning help clients enjoy their wealth.
October 5 -
Despite common assumptions, child-free clients have plenty of planning complexity. Advisors shared their approach to planning for this demographic, from encouraging "no-kid dividends" to building care teams early.
October 2 -
A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
October 2 -
Thirty-seven percent of those making more than $500,000 live paycheck to paycheck, Goldman Sachs found, making this a problem for more than just lower-income workers.
October 2









