Salin taps banking veteran to lead wealth management
In his new role, John W. Coughlin, a 25-year-veteran of Indianapolis banks, will drive the bank’s investment, retirement, trust and estate, and insurance services strategies.
Wealth Management
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Indiana probing JPMorgan’s church trust practices, sources say
Indiana securities regulators are investigating how JPMorgan handled investments inside trusts that benefited churches in the state, Bloomberg News reported. The inquiry follows a lawsuit filed in 2014 by Christ Church Cathedral, which alleged the bank mismanaged trusts endowed by Eli Lilly Jr.
Cranking out returns: Companies are using dividends to attract investors
Cummins Inc., Duke Realty Corp., Eli Lilly and Co., Simon Property Group Inc. and Vectren Corp. are among the prominent Indiana companies boosting their dividends in recent months. For a few companies, it’s the first increase in years.
Student debt may be the next crisis facing older Americans
Twenty-seven percent of education loans held by people age 65-74 were in default in 2013, meaning they hadn’t made a payment in 270 days or more. More than half of education loans held by people 75 and older were in default.
Forecast for 2016: Strategist says slow economic growth ahead
If the U.S. economy were a compact car, it would be running on just three of four cylinders. That was the central message of a Fifth Third Bank expert at IBJ's 2016 Economic Forecast on Wednesday.
Brokers handling IRAs face tougher rules under federal plan
Brokers and insurance agents providing retirement-savings advice would have to put clients’ interests ahead of their own under a plan that will face stiff opposition from Wall Street and Republican lawmakers.
Merrill Lynch: Firing of top adviser was for compliance lapses
Thomas J. Buck, a powerhouse investment broker who unexpectedly left the local office of Merrill Lynch last month, was fired due to “management’s loss of confidence,” the company disclosed in newly released regulatory filing.
Major credit agencies agree to changes sought by advocates
The three largest credit-reporting agencies say they will change how they handle records, including making the dispute process easier for consumers and providing a waiting period before medical debts are reported.
PNC Bank’s Givens bucks trend of men leading wealth management operations
Nadine Givens climbed the ladder beginning from a childhood in which she worked at the convenience store her mother managed.
BKD gets bigger with Chicago, Dallas acquisitions
National accounting powerhouse BKD LLP, which has major operations in Indianapolis, is expanding its territory with two acquisitions announced this week.
Cook CEO tops list of richest Hoosiers
Cook Group Inc. CEO Carl Cook is among four Hoosiers on Forbes’ annual list of the 400 richest people in America.
Church accuses JPMorgan of mismanagement, self-dealing
Christ Church Cathedral has filed a federal lawsuit against JPMorgan Chase, alleging the bank’s “intentional mismanagement” and “self-dealing” led to $13 million in losses in church trust accounts endowed in the 1970s by Eli Lilly Jr.
Not so golden: Wealth gap lasting into retirement
With traditional pensions becoming rarer in the private sector, and lower-paid workers less likely to have access to an employer-provided retirement plan, there is a growing gulf in the retirement savings of the wealthy and people with lower incomes.
Study: 35 percent in U.S. facing debt collectors
More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.
House votes to extend moratorium on Internet taxes
Under current law, the moratorium expires Nov. 1, exposing Internet users to the same kind of connection fees that often show up on telephone bills.
Savers beware: Fees may be shrinking your 401(k)
A new study finds that the typical 401(k) fees — adding up to a modest-sounding 1 percent a year — would erase $70,000 from an average worker's account over a four-decade career compared with lower-cost options.
Investment manager sees good growth prospects for 2014
Tom Pence predicts change for U.S. manufacturing.
Indianapolis-based hedge funds subject to market forces, too
Five years after the crash, the luster of hedge funds isn’t what it used to be.
Four Hoosiers rate among 400 wealthiest in U.S.
The widow of medical device industry pioneer Bill Cook again is the top Hoosier on the latest Forbes 400 list of the nation’s wealthiest people, and this time has cracked the top 100.
Regulators suspend broker for not disclosing bankruptcy
FINRA fined Zionsville financial adviser Stephen W. Bracken $5,000 and barred him from affiliating with a member firm for three months.