MarvinRanks

Herbert Kohl has proposed a financial services bill amendment that would apply a fiduciary standard of care to all broker-dealers, registered investment advisors and financial planners who perform financial planning duties. Kohl, D-Wis., chairman of the Senate Special Committee on Aging, would put all of those broker-dealers, RIAs and planners under the jurisdiction of a [...]

If you haven’t already, you are likely to hear the pitch soon: Whole-life insurance—the fuddy-duddy stuff your grandparents owned—was a shining star during the financial crisis… Massachusetts Mutual Life Insurance Co., New York Life Insurance Co. and others have been playing off the disappointing performance of many competing investments during the financial crisis to boost [...]

The pending $15 billion sale of a large foreign life-insurance unit of American International Group Inc. to MetLife Inc. is being held up by a tax dispute that may require a ruling from the Internal Revenue Service, according to people familiar with the matter. The tax issue could put the Department of the Treasury, as [...]

“Terminal Illness? $2,000 in CASH, Immediately Available.” That was the promise of an advertisement that appeared regularly in 2007 and 2008 in the Rhode Island Catholic, the official newspaper of the local diocese. The money, the ad said, was coming from a “compassionate organization” that wanted to provide “financial assistance” for those near death. In [...]

Grand Rapids, MI (Vocus) February 15, 2010 — Insurance fraud is not a “victimless” crime, according to Foremost Insurance Group. Fraud doesn’t just affect insurance companies, unfortunately all customers are impacted. Fraudulent claims increase the loss and investigation expenses for an insurer and impacts the rates customers pay for insurance. Insurance fraud is on the [...]