This has been a roller-coaster year for many advisors as they deal with the challenges of moving their practices to a higher level of success. The following suggestions from the two top producers featured below are some of the steps they can take to make 2022 a winning year.
Despite the stock market’s substantial rise Monday, there’s an important message — and an important warning — that the less obvious Black Friday, which I’ll call BF II, delivered to those of us who have a significant portion of our net worth invested in stocks.
Hospitalized for weeks in October, Steven Boyer, the principal and owner of Fiscal Fit Financial Services, a wealth management company in nearby Reedsville, Pa., walked out of the hospital still suffering some of the after-effects of COVID-19. But he also walked out with a list of new potential customers and referrals.
That’s according to a new paper from investment adviser Morningstar, which shows that the decades-old guidance on how to spend down savings after retirement — commonly known as the 4 percent rule — may no longer provide sufficient lifetime security.
Over one third (39%) of participants admitted to hiding a purchase, bank account, statement, bill or cash from their partner/spouse, and about one in five admitted to lying about finances, amount of debt owed or amount of money earned to a partner/spouse.
The Covid-19 pandemic has changed the way and strategies in which investors invest their resources, said Mark Mccombe, senior executive director at BlackRock, the largest fund manager worldwide.
in many ways it could go down as one of the best years ever. This week, in honor of Thanksgiving, we wanted to take a closer look at three reasons to be thankful. From the stock market to the economy, there are indeed many reasons to be thankful this year.
Of the 10 largest firms in the sector, eight are American. They include BlackRock, Vanguard, Fidelity, some of the big names in the industry. Only two European names sneak into this select club, the German insurer Allianz and the Swiss bank UBS.
Most advisors (and clients) are looking for steps to make sure they finish the year strong. Here are a few tips on how to use the final weeks of the year to make 2021 a strong campaign.
Inflation and what it means for investing is one of the biggest issues I have been hearing about recently. The topic can generate quite a bit of anxiety.
Experts say consumers could consider assets that are directly linked to inflation.
While the overall goal of qualifying for MDRT may be an intimidating one, breaking it down into manageable pieces is a sure way to methodically march towards your prize. Use the following guidelines to take this tactical approach to membership qualification.
Even in a bull market, veteran investors may find that they have added a few losers to their portfolios. Tax-loss harvesting may be able to lessen the pain of those stinkers by giving you the ability to use those losses to lower your tax liability.
As you’ re probably aware, it’ s been a good year for the stock market. All major stock indexes have been hovering near record highs. According to an analysis of data from January 3, 1950 to April 22, 2015, the S&P 500 set a new record high on 6.96% of days.
The Federal Reserve should not be quick to raise short-term interest rates to cool inflation because there are costs to workers and the economy, said San Francisco Fed President Mary Daly on Tuesday. Like all insurance, there are costs,” Daly said during a speech at the Commonwealth Club in San Francisco. Louis Fed President James Bullard urged his colleagues to“…
Revelations about alleged misleading actions by Facebook led to billions in losses to investors, according to a federal lawsuit filed against the social media giant by Ohio’s largest public pension fund.
There is a specter haunting the U.S. economy: the Great Inflation of the 1970s. During this decade, a simultaneous increase in prices and unemployment paralyzed the U.S. economy and its policymakers.
On the contrary, Ray Dalio, Warren Buffett and, now, Bank Of America itself know its power. That it has estimated a market of US$ 284 billion in 2028 for this sector is no coincidence. I find it quite curious that companies are more interested in learning about cognitive biases to improve their products, marketing and sales processes, but they are not yet able to…
The Federal Reserve may end asset purchases faster amid surging inflation, some on Wall Street predict. The Nasdaq fell as the 10-year yield rose.
The financial services industry is overlooking or underserving a potentially huge and growing market according to a new study from the Center for Economic Empowerment and Equality, part of The American College of Financial Services.
The current term of Jerome Powell, who came to the post appointed by then-President Donald Trump in 2017, concludes in February and although most experts foresee his continuity in a second term, the possibility that President Joe Biden will opt for another candidate has also emerged.
The great irony of inflation is what is bad for families is not necessarily bad for stocks.
According to the Federal Home Loan Mortgage Corporation, also known as Freddie Mac, the average interest rate on a 30-year fixed-rate mortgage in mid-September 2021 was 2.86.
It’s rare to have a pension plan these days and those without pensions may not have access to a retirement plan through their work either. Not only does this present an issue for middle and upper-income individuals, but it’s also a real problem for lower income individuals especially those in underserved communities.
The builder of SUVs, pickups and electric trucks Rivian debuted on Wednesday on Wall Street where it reached a capitalization of almost $100 billion. That value is higher than that of legendary carmakers like Ford or General Motors even though it has just launched its first vehicles.
It’s been difficult to find a macroeconomic story that supports reducing exposure to U.S. equities in favor of their developed international counterparts. But frankly, if one is going to develop, it may need to happen soon.
One of the long-term planning solutions plan sponsors could consider to help employees retire on time is offering guaranteed lifetime income investment options for participants. In fact, about half (46%) of plan participants are interested in these options.
The SEC charged United States Oil Fund LP, an exchange-traded product (ETP), and its general partner United States Commodity Funds LLC for misleading statements about limitations imposed by its sole futures commission merchant and broker.
Companies in the infrastructure and construction sector gained $6.733 billion in market value on Wall Street on Monday after the U.S. House of Representatives approved the infrastructure plan proposed by President Joe Biden.
Longevity risk also continues to be a top concern for retirement plan participants, according to the survey. When it comes to taking withdrawals, 76 percent of survey respondents would be more likely to leave their money in their 401(k) plan if given an in-plan withdrawal solution.
Gregory Lemelson and Massachusetts-based Lemelson Capital Management LLC were charged with fraud in September 2018 for reaping more than $1.3 million in illegal profits by making false statements to drive down the price of San Diego-based Ligand Pharmaceuticals Inc.
President Biden has more than economics on his mind as he weighs his choice to lead the Federal Reserve: His pick will impact inflation, face the cruel judgment of financial markets and somehow need to find 50 votes in deeply divided Washington.
Several articles published lately suggest that stocks perform well in higher inflation environments. That may be the case when inflation rises due to more robust rates of sustainable economic growth. However, history suggests sharply rising inflation not only negatively impacts economic growth but triggers adverse market environments.
The SEC has charged a New Jersey “claims aggregator” – a firm that submits claims on behalf of its clients to administrators tasked with returning settlement funds to harmed investors – and its three principals with defrauding distribution funds established to return money to securities fraud victims in a multi-year scheme.
The Federal Reserve's commitment to diversity and inclusion is clear— on paper. In a letter to Biden on Monday, more than a dozen groups urged the president to "make history" by appointing the first Black Fed chairperson and the first Black woman to its Board of Governors.
They say nothing is certain in life but death and taxes. It feels like one other certainty is that taxes are going to increase. Business owners should feel like there is an “X” on their back. Let’s highlight some of the problems to bring us one step closer to a solution.
The S&P 500 Index and the Dow have managed to pierce overhead resistance. This week, both hit record highs. It seems only a matter of time before the NASDAQ will follow, but probably not before we have a minor pullback.
If our positive near-term market outlook proves to be overly optimistic, we believe one—or perhaps more than one—of these five things will likely be the culprit: inflation, an aggressive Federal Reserve, profit margin pressures, pulling forward of seasonal gains, and potentially overly bullish sentiment.
Remember a few years ago, when a counterfeit letter purporting to be from BlackRock’s Larry Fink hit the street? Well, the folks who did that apparently had so much fun that they did it again – this time to Vanguard.
Major stock market indexes added to record highs after the United States announced a new trade deal with the European Union over the weekend, giving investors reason to rally ahead of the Federal Reserve’s long-awaited policy announcement, when the central bank is expected to start pulling back on its COVID-19 stimulus efforts.
The parents of a 3- year-old daughter each contribute $6,000 into a Roth IRA every year for the next 15 years. If each of their Roth IRA accounts were to earn an average annual return of 8 percent, their combined Roth IRA account values after 15 years would be worth approximately $352,000 of which $180,000 is comprised of contributions. As a result, the parents can…
A report from a research group found that more individuals input money into health savings accounts, or HSAs, than they took out throughout the pandemic. As a result, the average total employee contribution hit $2,054, and the number of unfunded accounts decreased from 21% to 18%. In 2003, Congress created the option of an HSA under President George W. Bush's…
Franklin Resources, Inc., a global investment management organization operating as Franklin Templeton, today announced that it has entered into a definitive agreement to acquire Lexington Partners L.P., a leading global manager of secondary private equity and co-investment funds. “We could not be more excited to welcome Lexington and its world-class team,”…
The Federal Reserve is set to begin removing a major plank of the stimulus policies it rolled out last year as the pandemic began, a sign of the progress the U.S. economy has posted since the historic downturn.
While asking for a referral can be nerve-wracking, it can also lead to exciting opportunities you otherwise may not have discovered and allows you to build community by opening the door for you to make referrals in return.
Americans’ retirement planning is in a crisis. Why? Most people are not saving enough. Here’s a seven-step solution from experts.
One-third of U.S. adults (33%) report that the pandemic triggered conversations with close family members about their end-of-life plans and preferences, according to a new study from Edward Jones in partnership with Age Wave and Harris Poll.
A big future vision is a powerful thing to create for yourself. Whether you want to build a massive business or simply make what you have today better, you need a big vision.
Many financial planners have clients that ask, “Should I focus on paying off my mortgage early?” The reason many people hang on to their mortgage and make the monthly payment for thirty years is they think they need the mortgage interest deduction as a write-off.
Elon Musk is already the richest person in the world according to Bloomberg’ s Billionaires Index. However, thanks to a surge in Tesla shares, the tycoon’s wealth rose by $36.2 billion.
Can companies buy their way into the S&P 500? That’s the explosive allegation made by a recent NBER paper — one that’s strenuously denied by S&P itself.
A new poll reveals that the Global Financial Crisis of 2008 had the most profound impact on investors—but they continue to struggle with the financial fallout of the COVID-19 Pandemic—driving their desire for guided advice and need for comprehensive financial planning.
While risks are rising, the economy will likely continue to grow unless medical conditions get much worse. Markets are cautious, but fundamentals still remain favorable. Volatility is very possible, but there may well be more upside ahead.
In December 2020, Pennsylvania’s largest pension fund adopted a figure for investment profits that its executives said was rock solid. The number was wrong. In April, the board disavowed the figure, adopting a new, lower number that triggered an increase in pension payments for 100,000 public school employees.
The Federal Reserve on Thursday banned purchases of individual stocks by its top officials and announced a broad set of other restrictions on their investment activities, about six weeks after news of active trading by some regional Fed presidents sparked an ethics scandal.
Credit Suisse Group AG has agreed to pay nearly $475 million to U.S. and U.K authorities, including nearly $100 million to the SEC, for fraudulently misleading investors and violating the Foreign Corrupt Practices Act (FCPA) in a scheme involving two bond offerings and a syndicated loan that raised funds on behalf of state-owned entities in Mozambique.
According to Bloomberg, the pull of e-commerce, especially in the wake of the pandemic, has helped PayPal’s stock more than double since the beginning of last year, giving the company a market cap of nearly $320 billion. The company’s momentum gives it financial muscle that it could use for acquisitions.
While the Certified Financial Planner certification has long been considered the “gold standard” of financial planning credentials, it has recently become more of a foundational knowledge base for those serious about helping clients achieve their financial goals.
We have an inflation problem. Jerome H. Powell, chair of the Federal Reserve Board, has admitted as much. Since 2012, the Fed has poured roughly $4 trillion into financial markets for stocks, bonds and other financial instruments.
The Netherlands and Denmark have taken second and third places respectively in the rankings, after a decade of competing for the top spot. The study also reveals that there is much that pension systems can do to reduce the gender pension gap – an issue inherent in every system.
A recent Delta Data survey of nearly 40 US banks, including two of the top twenty-five banks by total assets, found a common thread: Many banks are still employing approaches to asset transfers within their trust/wealth management groups that are heavily manual.
Despite a massive rise in unemployment and the closing of businesses due to COVID-19, some of America's richest companies and individuals made a lot of money during the pandemic. On Monday, CNBC reported that the wealthiest 10% of U.S. citizens hold 89% of all U.S. stocks.
In the past year, private investments made up for some of that disaster, generating outsize gains. Harvard’s private equity portfolio returned 77 percent; at Brown University, where the endowment ended June with $6.9 billion, private equity was up 87 percent, driving an overall 51.5 percent return, the biggest since 1983.
Most people think of the Roth IRA as a way to save for retirement, but it can also be a way to help save for a child’s college education as well. When you withdraw money from a Roth IRA, contributions made directly to a Roth IRA are always withdrawn before any earnings.
When you increase your communication with clients, offer innovative ideas for connecting, and bring more transparency to the advising process, your clients will value your dedication and want to establish successful, long-term relationships.
DPL Financial Partners’ 2021 RIA Retirement Planning Survey looked into the ways this era of low interest rates is impacting the way advisors look at various retirement income strategies and how they put those strategies into practice for their clients.
Last week, Washington Post reporters exposed how global elites have used opaque trusts to shield wealth from tax authorities and the critical public. The answer to the first question begins with a surprise meeting between executives from New York- based Citibank and South Dakota Gov. William Janklow (R) in February 1980.
Attorneys for the heirs of the deceased Murdaugh housekeeper Gloria Satterfield are seeking a court order to force the Hampton banker who oversaw the distribution of $4.3 million in insurance proceeds to explain why none of the money reached the heirs.
The September 2021 Survey of Consumer Expectations shows that short- and medium-term inflation expectations rose to their highest levels since the inception of the survey in 2013.
According to a new study from financial services firm Edward Jones in partnership with Age Wave and Harris Poll, a third of U.S. adults (33%) report that the pandemic triggered conversations with close family members about their end-of-life plans and preferences.
The semi-regular debt limit fight is politics at its worst. Why? Because raising the federal debt limit should be a routine, obligatory act by Congress to fulfill the government’s basic duty to pay the bills run up by the very same Congress.
Plan sponsors overwhelmingly see the value of guaranteed lifetime income options according to new research released today by Allianz Life. In addition, the majority are now ready to begin offering these new choices.
Thinking holistically about your clients’ retirement security and developing and executing a strategy aligned with their goals may help free them to enjoy one of the most rewarding times of their life.
On the New York Stock Exchange, the biggest gains are for Wells Fargo (59.05% on the year), and Goldman Sachs (48.96%). Investment banks Morgan Stanley and JPMorgan post returns of 45.98% and 33.96%, respectively, so far in 2021.
Right now, there are two empty slots among the 12 regional Federal Reserve banks scattered across the country. Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren resigned after revelations about their trading activities during the pandemic.
Federal Reserve Governor Lael Brainard said on Thursday the central bank could move forward with efforts to assess how banks could be hit by climate change, saying such analysis will be a key tool in measuring risks.
The Securities and Exchange Commission today charged CanaFarma Hemp Products Corp. and its co-founders with fraudulently raising approximately $15 million from investors, and misappropriating a significant portion of the investor funds for personal use.
A fee-based model can help you focus on creating and maintaining client relationships, all while bolstering trust and adding value to your financial advice with a new level of objectivity.
The Senate will vote today on a Democratic-backed measure to suspend the U.S. debt ceiling, a key lawmaker said Tuesday, as partisan politics in Congress risks an economically crippling federal credit default.
New research from Northwestern Mutual shows that COVID-19 has changed many Americans’ retirement plans, with over one-third saying it has either moved up or pushed back their target retirement age.
The Federal Reserve has asked its Office of Inspector General to initiate an independent review of whether trading activity by some top officials broke the law, according to a spokesperson for the central bank.
Hispanics are the most likely demographic group (26%) to say they feel “motivated” when thinking about financial planning in the current environment, according to a survey by Lincoln Financial Group.
The Securities and Exchange Commission announced charges last week against Mark Melnick, the host of a stock trading webcast, for spreading more than 100 false rumors about public companies in order to generate illicit profits.
Is “buy and hold” always the best way to invest? It is common to see increasing numbers of articles touting the benefits of “armchair” investing during long bull market advances. The last decade has been a boon for the index ETF industry, financial applications, and media websites promoting “buy and hold” investing.
In April, the Federal Housing Finance Agency essentially required Fannie Mae and Freddie Mac to put the kibosh on financing one to four unit rentals. The ban-the-rental plan, announced last January, was the work of former FHFA Director Mark Calabria, along with former Treasury Secretary Steve Mnuchin.
The SEC today charged Robert D. Press, the former CEO of the advisory firm TCA Fund Management Group Corp., and Donna M. Silverman, TCA’s former chief portfolio manager, for their roles in the firm’s scheme to artificially inflate the net asset values and performance results of several TCA-managed funds.
Because if you parse the numbers, as we'll do in a bit, you see that foreign investors and central banks own about 45 percent of the Treasury securities that are owned by investors, rather than by the Federal Reserve and various federal trust funds.
Communication is the most important skill most people don’t develop. Most people believe they’re communicating effectively, while the reality is they’re not.
Senator Elizabeth Warren said Tuesday that she would oppose the renomination of Jerome Powell for another term as chairman of the Federal Reserve, calling him “a dangerous man” because of what she described as serious shortcomings in his oversight of financial regulations.
The Delta variant is keeping more companies cautious about how to invest the mountains of cash they have at their disposal. That hesitancy has led, in part, to corporate spending on stock buybacks outpacing capital expenditures this year.
Robert Kaplan will step down as president of the Federal Reserve Bank of Dallas early next month, the Dallas Fed announced Monday. Elizabeth Warren, a Massachusetts Democrat, sharply criticized the trades and urged Fed Chair Jerome Powell to bar stock ownership by Fed officials.
One in four American parents who borrowed from the federal government to help pay for a child’s college education don’t expect to retire as planned because of the debt, according to a new survey.
A former Virginia Beach investment advisor was sentenced today to 35 years in prison, following last week’s sentencing of his Williamsburg-based attorney to 10 years in prison, for their roles in a nationwide investment fraud scheme that resulted in over $25 million in losses.
Federal Reserve Chairman Jerome Powell says the central bank’s rules about what type of assets Fed officials can invest in need updating amid an ethics controversy involving regional presidents.
When it comes to technology, the insurance industry operated under the premise, “If you build it, they will come.” But when technology platforms are built but not adopted, then what?
The Securities and Exchange Commission today filed two complaints charging four individuals and five entities for their roles in an allegedly fraudulent microcap scheme that generated more than $10 million in unlawful stock sales.
The Federal Reserve signaled Wednesday that it may start raising its benchmark interest rate sometime next year, earlier than it envisioned three months ago and a sign that it's concerned that high inflation pressures may persist.
My career as a financial planner was shaped in my annual tax meetings with my CPA. One year I mentioned to her I really liked taxes, but specifically how a person could be strategic in their finances with tax planning.
The SEC announced charges Tuesday against Puerto Rico-based Back to Green Mining LLC and its two managing members, José Jiménez Cruz and Manuel Portalatin, for their participation in a fraudulent and unregistered offering in a purported “green” mining venture.
While over three-fourths of all respondents seek returns of 5% or more over the next 12 months, the outlook is more optimistic for family offices with AUM over $500 million with 30% seeking over 10% returns.