Investment Instruments

The interest rates offered by major banks operating in New Orleans, Houston, Boston, and Burlington, Vt., are 31-54 percent higher than the national average, the survey found.

Feeble returns on the safest investments such as bank deposits and fixed-income securities represent a financial repression transferring money from savers to borrowers, says Bill Gross, manager of the worlds biggest bond fund.

Five former aides to Bernard Madoff who spent decades working for his firm were found guilty of helping run the biggest Ponzi scheme in U.S. history, a $17.5 billion fraud exposed by the 2008 financial crisis.

The Financial Industry Regulatory Authority announced Monday that it has fined LPL Financial LLC $950,000 for supervisory deficiencies related to the sales of alternative investment products, including nontraded real estate investment trusts.

Prudential Retirement has named Srinivas Reddy to a newly created role overseeing investments for its Full Service business.

A study found that defaulted participants tend to earn less in salary across their careers and make fewer active contribution changes.