Wealth management

Allianz Life Insurance Co. of North America announced Tuesday that its variable products division, Allianz Life Financial Services LLC, is offering its complete line of variable annuity products in the banking channel.

Record fee income from sales of mutual funds and annuities shows that bank brokerages have evolved in terms of figuring out customers’ needs, attracting top-flight brokers, and selling “upstream” to affluent clients, industry leaders say.

BNCCorp earned nearly half its profit last year from insurance, according to the Bank Insurance and Securities Association's "Who's Who in Bank Insurance."

Massachusetts Mutual Life Insurance Co. has announced the introduction of a comprehensive disability income insurance offering.

SunTrust Banks Inc.'s private wealth management division has broadened its legal specialty group to offer private banking services to the associates in law firms that are already customers.

Banc of America Investment Advisors Inc., the adviser to the Liberty All-Star Funds, said Friday that it had agreed to sell the portfolios to ALPS Advisers Inc.

For more information on this data, visit Novantas LLC and Market Rates Insight.

American International Group Inc. announced Thursday that it had named Anastasia D. Kelly its general counsel and senior regulatory and compliance officer with the rank of executive vice president.

When banks lack the resources to put marketing muscle behind their investment reps, some advisers are finding creative but inexpensive ways to get their messages out.

New York Life Insurance Co. announced the introduction Wednesday of Family Protection Insurance -- a family term-life insurance plan that can meet families' changing needs over time.

The U.S. property/casualty insurance industry will meet or exceed estimates for underwriting performance and net income for the full year, according to a report Fitch Inc. released Tuesday.

Mellon Financial Corp. and Exante Financial Services are both preparing to offer banks a private-label health savings account platform.

First Republic Bank of New York has hired a U.S. Trust Co. executive as a managing director.

Last September, industry analysts forecast that banks would double their separately managed account market share by 2010, but a year later, the head of an industry group is less positive.

ING Group NV's U.S. retail annuities unit has announced the addition of a spousal withdrawal benefit to its variable annuity family.

Willis Group Holdings Ltd., the third-largest insurance broker in the world, announced Friday that it had amended its 2005 agreement with the New York attorney general and the state's insurance department to allow payment from insurance carriers for its services as a managing general agent.

Fidelity Investments expects its Advisor 401(k) platform to maintain its strong recent growth pace but says it does not look for an extra boost from recently enacted pension legislation.