Wealth Management
Top editor picks, summarized for you
12/7/2016

Ten of 14 subcontractors that worked on a San Antonio library renovation are awaiting at least $149,000 in payment, records show. City officials have faced criticism for waiting to release information about the contractor's bonding company, and at least one subcontractor says that delay has led to a claim being filed too late.

Full Story:
KSAT-TV (San Antonio)
12/7/2016

An Environmental Protection Agency proposal would require hard-rock mining companies to have guarantees to cover pollution cleanup. Mining companies would be able to use surety bonds or self-insure.

Full Story:
Idaho Business Review
12/7/2016

Compound interest, little noticed and rarely understood, is a powerful tool to pumping up a retirement portfolio, writes Retirement Clearinghouse CEO Spencer Williams. Early withdrawals from retirement accounts undermine compounding, eliminating not only money pulled out but also interest that would have built up.

Full Story:
MarketWatch
More Summaries:
Spencer Williams
12/7/2016

Annuities held within employer-sponsored 401(k) plans increasingly look like the best approach to replacing the income security once provided by traditional defined-benefit pension plans, Jennie Phipps writes. Consumer acceptance of annuities within 401(k)s likely will be limited until the federal government introduces reinsurance for them, said Alicia Munnell, director of the Center for Retirement Research at Boston College.

Full Story:
Bankrate
12/7/2016

A survey shows 51% of financial advisors intend to bolster spending on marketing next year to meet compliance and competition challenges. Content sharing is among areas in which advisors can increase focus.

Full Story:
InvestmentNews
12/7/2016

Plaintiffs in a class action can't sue the company that bonded a former Illinois county treasurer who rigged bidding in delinquent-property-tax auctions, the Illinois Supreme Court has ruled. "The proper claimant on a statutory public official bond is the named obligee, unless the legislature has expressed in the statutory language its intent to allow others to sue directly on the bond," according to the court.

12/7/2016

A US insurer plans to buy a specialty insurer from its Chinese parent for $3 billion. The deal appears likely to make the Boston-based acquirer one of the top 10 US specialty insurers.

More Summaries:
The deal
12/7/2016

A federal appeals court has affirmed the sentences of two men convicted in a 15-year, $136 million fraud against the Transportation Department. The fraud, which involved paying a fee for a disadvantaged business enterprise to falsely claim it worked as a subcontractor on government projects, is the largest in US history, prosecutors say.

12/7/2016

The improving construction sector appears likely to bolster the surety industry, which had a record $5.62 billion in premiums last year. Entrants are bringing more capital and products to the market, while competition is increasing, particularly in commercial bonding.

Full Story:
GuruFocus.com
12/6/2016

CANNEX Financial Exchanges said that in the first quarter of next year it will introduce tools for comparing deferred annuities' benefits. The tools provide objective analyses that fiduciary advisors can use to be certain they are acting in clients' best interests, the company said.

Full Story:
ThinkAdvisor
More Summaries:
Cannex