Buttigieg Retirement Plan ‘Impressive,’ But How Will He Pay For It?

Investing is vastly more complex these days. We cut taxes in 2017, but future tax increases—large ones—are likely. The Federal Reserve is lowering interest rates because it is told to by the president. There are tariffs, things we haven’t seen in a while. Deficits are rising with zero collective will to contain them.

Did you miss the $11 billion pop after the Schwab-TD Ameritrade merger hit the news? Some ETFs are designed to capitalize on M&A.

U.S. stocks continue to forge ahead. Source: Federal Reserve Bank of St Louis. We note also that the U.S./ Mexico/ Canada trade deal is still waiting to be taken up by the House of Representatives.

Americans are taking proactive steps to keep holiday spending in check and be financially ready for next year, according to an Experian national consumer survey. A majority of those surveyed say they’ re motivated to improve their finances this holiday season, with 66 percent paying for gifts in cash and 62 percent planning to pay off debt.

Paul Ashworth, chief U.S. economist at Capital Economics, said the minutes, along with recent comments by Powell and other officials,“ confirm that the Fed is now firmly on the sidelines.”. Ryan Sweet, an analyst with Economy.com, said it’ s clear that the Fed is in a“ wait-and-see mode, and unless there are signs that the economy or inflation are deviating from their…

The Cincinnati retailer posted earnings of $2 million, or a penny per share. Removing one-time charges, per share earns were 7 cents, better than the penny Wall Street expected, according to a survey by Zacks Investment Research. Revenue declined to $5.17 billion from $5.4 billion, which is short of expectations.

Netflix, $9 per month; Disney+, $7 – but what about for financial planning needs? Subscription models have made streaming more affordable than cable; it can do the same for financial planning.

–A major research study from BNY Mellon Investment Management, one of the largest asset managers in the world with $1.9 trillion in AUM as of September 30, 2019 1, revealed millennials have a greater level of understanding over their older cohorts regarding the role fixed income plays in retirement planning and how the asset class responds to market cycles.

Major stock indexes ended a wobbly day of trading on Wall Street mostly lower Tuesday, as losses in energy companies and department store operators edged out gains elsewhere in the market. Energy sector stocks took the heaviest losses as the price of U.S. crude oil dropped 3.2%. “It’ s almost a carbon copy of yesterday,” Jeff Zipper, managing director at U.S. Bank…

Here are five common money mistakes planners see from their clients and what they do to right them.

Top advisors ask Matt Harris for advice. And he’s telling them he sees two clear stock market trends — which steer where he thinks investors should be.

—President Donald Trump summoned Federal Reserve Chairman Jerome Powell to the White House on Monday to discuss the economy and interest rates— issues on which Trump has repeatedly attacked the Fed. The Fed said in a statement that Powell’ s message to Trump during their meeting was similar to the one he expressed in congressional testimony last week, when he…

Preparing an estate plan is like getting a physical. We know responsible adults have it done but choosing to do it yourself is just not appealing. We may decide with the information available on the internet, we simply can self-diagnose any problems that arise.

As CEO of Sowell Management, a registered investment adviser in North Little Rock, he embraces a legal obligation to put clients’ financial interests first. “If I tell you you need to sell Procter& Gamble, I get paid when the trade is made, and if I suggest that you buy Hewlett Packard in its place, I get paid for that too. Financial services companies have been inching…

The average American spends more than 85 hours per month watching TV. The same person will likely spend about 265 hours sleeping and 228 hours working. Know how much time they’ll spend working on their finances?

More than half of the world’s wealthiest investors are hedging for a sharp drop in financial markets before the end of next year, says UBS.

James Barr Haines, senior vice president and deputy general counsel of Fidelity Investments, Boston, Massachusetts, has issued a public comment on the Employee Benefits Security Administration’s proposed rule entitled “Open MEPs and Other Issues Under Section 3 of the Employee Retirement Income Security Act”. The comment was written and posted on Oct. 29,…

Trump’s own 2020 election stakes mean there’s a good chance of a phase-one China trade deal, but there’s growing reason to worry that it won’t happen.

Fed chief Powell tells Congress federal debt is on ‘unsustainable path,’ limiting ability to support economy in a downturn

US Student Debt Report: 6% of Borrowers Owe More Than $100,000. A new report from the public policy nonprofit Brookings Institution clarifies where all of that $1.5 trillion student debt comes and goes. Six percent of borrowers owe more than $100,000 in debt, with 2% owing more than $200,000, “the report by Brookings’ Kadija Yilla and David Wessel found.

Stocks on Wall Street closed with modest gains Tuesday after an early rally lost momentum toward the end of the day. “There was some excitement on breaking 3,100, that perhaps we could continue higher on the S&P,” said JJ Kinahan, chief market strategist at TD Ameritrade. President Donald Trump gave an update Tuesday afternoon on trade negotiations with China,…

Morgan Stanley reported the launch of the Jewish Values Tool Kit designed to facilitate meaningful conversations about the wellspring of values shared among families, boards and the Financial Advisors and Institutional Consultants who serve them. According to a media release, the Jewish Values Tool Kit, a collaboration between Morgan Stanley’s…

—Federal Reserve Chairman Jerome Powell is due to testify Wednesday in Congress about the outlook for the U.S. economy, giving his perspective two weeks after the Fed cut interest rates for a third time this year. The three cuts, which lowered the interest rate the Fed controls to a range of 1.5% to 1.75%, were intended to offset drags from slower global growth and…

Investors put their recession umbrellas back in the closet last week and broke out their party hats, as all three major U.S. stock indexes hit fresh record highs. The market is bullish on the expected pause in President Trump’s trade war with China and market participants have plenty of ammo to drive stocks higher. What’s happening: Investors are moving back into risky assets like…

The IRS has proposed trimming required minimum distributions (RMD), the withdrawals that retirees must take from accounts like IRAs and 401(k)s.

Many people use their last will and testament to make bequests to charity. She considered outright gifts and contributions to a Donor Advised Fund or Charitable Remainder Trust, but ultimately decided that she was not ready to part with control of the assets for fear she may need them someday and would regret the irrevocable donation. A PPVA is a uniquely…

According to the Federal Reserve, the value of household equity in real estate has more than doubled since the 2012 housing bottom. CoreLogic, a real estate data firm, reports that among households with mortgages, equity is at a record high. Not to be a killjoy, but there’s a growing risk in that good news.

November and December arrive bearing a handful of full or partial stock market holidays. Is the stock market open or closed on Veterans Day this year?

—New York City says it’s finalizing plans to relocate Wall Street’s famous “Charging Bull” statue. A spokeswoman for Democratic Mayor Bill de Blasio tells The Wall Street Journal that the bull will be placed in a new location somewhere near the New York Stock Exchange. In 2017, State Street Global Advisors commissioned another bronze sculpture, “Fearless Girl,” to…

Independent registered investment advisor practices tend to charge lower fees on managed assets than dually-registered RIAs, and the former also tended to hire fewer advisors with investment-related Securities and Exchange Commission violations, according to a new report from advisor digital lead generation firm Zoe Financial.

The Securities and Exchange Commission issued the following statement by Commissioner Hester M. Peirce on proposed amendments to improve accuracy and transparency of proxy voting advice:. “Thank you to the Chairman, Commissioner Roisman, the staff in the Divisions of Corporation Finance and Economic and Risk Analysis, and other staff throughout the…

Wall Street donors have a new favorite candidate in the 2020 Democratic presidential field: Pete Buttigieg.. The mayor of South Bend, Ind., the fourth-largest city in the 17th- largest state may be an unlikely candidate for Wall Street largesse. But Buttigieg leads his rivals in collecting contributions from the securities and investment industry, pulling in…

Billionaire investor Paul Tudor Jones believes that a Warren presidency would sink the S&P 500 25%.

Our results are based on the estimated state and local tax burden in each state for a hypothetical retired couple with a mixture of income from Social Security, an IRA, a private pension, interest and dividends, and capital gains. We also gave them a $400,000 home and $10,000 in deductible medical expenses. All the states on our “most tax-friendly” list exempt Social…

Fidelity Charitable issued the following news release:. Half of surveyed taxpayers made at least one change in their charitable giving strategy after the Tax Cuts and Jobs Act, according to a survey analysis released today by Fidelity Charitable, an independent public charity and the nation’s largest grantmaker. “It is encouraging to see that those with the…

Mounting liabilities from the national debt, pensions and healthcare will compel lawmakers to act, he says.

by: Jennifer Hill, Baillie Gifford, for IRIS.xyz. The BBC documentary War on Plastic and David Attenborough’ s Blue Planet II have helped to bring the scourge of plastic and effects of climate change into sharp focus. “Ethical, or responsible investing, has become a hot topic in 2019,” said Darius McDermott, managing director of Chelsea Financial Services.“ Recent…

In an effort to maintain strong client relationships, some financial advisors are starting to use an automated behavioral coaching tool.

The News: Two Republican and two Democratic senators have introduced a bill to exempt small brokers from having to use…

Technology is improving communication with clients. Even local clients prefer to avoid driving to their advisor’s office and instead meet via video.

Advisors who look for ways to surprise prospects and clients with exceptionally thoughtful gestures can build a sterling reputation.

In learning how to build a client base as a financial advisor, enterprising advisors find ways to differentiate themselves and deliver superior service in a variety of ways from office design to smart use of tech tools.

Over the past decade, the investment firm David A. Noyes& Co. has helped raise money for companies-including Indianapolis- based Digonex Technologies Inc. and Fishers-based SteadyServ Technologies LLC- by persuading its clients to invest. Since May 2017, Noyes’ clients have filed 12 complaints with the Financial Industry Regulatory Authority, or FINRA,…

And why your portfolio should be protected against it anyway

According to the SEC’s order, First Global Credit used a variety of marketing methods to target and solicit U.S. individuals to deposit and use bitcoins to buy and sell a variety of investment products. “Federal securities laws impose specific requirements for offering and selling security-based swaps to retail investors in the U.S.,” said David Peavler,…

The Labor Department’ s monthly data was held down in part by the General Motors strike. ■128,000 jobs were added last month, the Labor Department reported on Friday. But the figure looks stronger accounting for the strike at General Motors, which shaved close to 50,000 workers from the employment rolls.

Nationwide Mutual Insurance issued the following news release:. And with the Bureau of Labor Statistics reporting 71 percent of all U.S. workers have access to retirement benefits, offering a 401 to employees has become necessary in order to competitively attract and retain talent in today’s strong, steady labor market. “Our latest survey shows employers are…

The Commerce Department reported Wednesday that the July-September performance for the gross domestic product, the economy’s total output of goods and services, was just below the 2% rate of growth in the second quarter. Growth could slow from an annual rate of about 2% to 1.6% next year as businesses cope with lower profitability, which could depress hiring…

Consumer spending remained solid, but business investment declined. Gross domestic product— the broadest measure of goods and services produced in the economy— grew at a 1.9 percent annual rate for the third quarter, according to preliminary data released by the Commerce Department on Wednesday. While the Federal Reserve lowered interest rates later in the…

Small cap stocks lagged Wednesday, while the rest of the market saw only mild losses. Transportation stocks also were down sharply.

—Stocks fell in midday trading Wednesday as investors held back ahead of an anticipated decision by the Federal Reserve to cut interest rates. The central bank has been using its power to cut short-term interest rates as a way to shore up the economy amid the costly impact from the U.S.- China trade war. Lower yields and interest rates make it more difficult for…

The Federal Reserve reduced the benchmark U.S. interest rate for the third time this year Wednesday in an effort to boost the economy as the trade war and a global slowdown threaten to drag the U.S. economy down. But it also signaled that its campaign of rate cuts has likely come to an end for now, with Fed Chair Jerome H. Powell telling reporters that the current…