Raise your hand if you can explain why anyone still believes in credit ratings.One of the enduring questions of the financial crisis is how the credit ratings establishment got so much so wrong for so very long. How could century-old institutions like the Moody’s Investors Service give their triple-A blessings to subprime junk?It is time — in fact, past time — for Washington to get some answers.
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The annuity contracts that were first offered by insurance carriers over a century ago were relatively simple instruments. They were designed to insure the risk of superannuation, or outliving one's income, and provided a guaranteed income stream to annuitants in return for either a lump-sum or periodic investment. But annuity contracts have become increasingly complex over the years... SF Gate:
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Polarized attitudes toward annuities remain; more focus on riskA new survey further confirms the growth opportunity for advisors from focusing on retirement income products and strategies. However, the report also notes heightened concern among brokers and RIAs with managing investment risk for investors.The Continued Evolution of Retirement Income Delivery: An Analysis of Leading Practices in Ad
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Employer groups, responding to the Labor Department's proposed investment advice regulations on May 5, 2010, said that the DOL should not attempt to regulate what constitutes "generally accepted investment theories."In the proposed investment advice rules, which were issued in March 2010, the DOL made a request for public comment on the conditions applicable to investment advice arrangements that
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Brokers and registered investment advisors don't treat their clients the same way. Investors should end "buyer beware."All advisors should be held to the same code of conduct. Most investors assume that they can trust their financial advisors to act in their best interest. What they don't know is that some advisors are legally required to act for them while others are not. The financial reform ac
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With the right genes, longevity insurance a plus Among the many risks retirees face is living too long and outliving their money.Of course, the first part is a risk many would welcome. It beats the alternative.Fortunately, there is a solution in longevity insurance, better known as annuities or life annuities. These are contractual arrangements between an "annuitant" -- yourself -- and a life ins
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The former Franklin investment advisor accused of mail and wire fraud in connection with an alleged $1.5 million “Ponzi” scheme is awaiting sentencing after pleading guilty in federal court.William W. Spencer, 68, entered his guilty plea May 28 before Judge William Haynes, according to court documents. The U.S. Attorney’s office for Middle Tennessee initially charged Spencer in April with six cou
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The New York State Insurance Department is drafting advice that would encourage annuity sellers to warn consumers about the dangers of taking early excess withdrawals.Insurers that are selling annuities with guaranteed minimum withdrawal benefit features should provide disclosure “in the sales presentation before the contract is issued and again at the time an excess withdrawal is requested,” Mic
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A federal judge in Rhode Island let stand some civil legal claims by two insurance companies against an estate-planning attorney and others who used newspaper ads to recruit dozens of terminally ill people for purchases of variable annuities.The judge, in U.S. District Court in Providence, R.I., in a Wednesday ruling let stand fraud, conspiracy and other claims against the estate-planning attorne
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Interesting take on things.. It's about time someone told it like it...Obviously, the web doesn't account for the Roosevelt years. I do agree...The so-called Clinton economy hinged on the invention of the world-wide...10Q detective is one of the best....Good info....That would indicate the financial sector still has a major downside...I would hazard a guess that people are buying online rather than driving...Could this really be the bottom for the financials?...
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