"Bond King" resigns from PIMCO

By: Mark Ziety

Bill Gross, famed "Bond King" and manager, founder, and chief investment officer from PIMCO, resigned on Friday. PIMCO has an extensive number of mutual funds commonly included in many 401(k) & variable annuity investment offerings. Mr. Gross' resignation has created a spike in bond trading volume and created ripples through the bond market. We are continuing to monitor the news and markets. For now, we encourage you to review your accounts not managed by Shakespeare and to contact us if you would like to discuss this matter further.