Reaching Unadvised Gen X Investors

“One way to protect your hard-earned money is to learn how to spot investment scams and to stay clear of them,” said SEC Chairman Jay Clayton. For example, the SEC recently took enforcement action against boiler-room-like call centers that swindled investors by allegedly: creating a false sense of urgency and asking investors to submit personal documents for…

With signs pointing toward a possible recession, investors have good reason to worry about their portfolios. Investors are likely to shift gears if they feel their advisors aren’t doing enough, thus, advisors must proactively conduct portfolio reviews and meet with clients to discuss appropriate safety net levels and the timing of future cash needs. Recessions occur several times in an investor’s saving lifetime, and portfolios should reflect their financial needs rather than the rise or fall of the markets.

Billionaire money manager Ken Fisher has come under fire for crass sexually charged comments he was said to have made Tuesday as part of a closed-door “fireside chat” at San Francisco’s Ritz Carlton Hotel.

WASHINGTON- The U.S. trade deficit widened in August for the first time in three months as exports increased but imports increased more. The politically sensitive gap with China in the trade of goods narrowed. The U.S. and China are locked in a dispute over American allegations that Beijing uses predatory tacitcs- including outright cybertheft- in a drive to…

A panel of leading economists is dialing down its forecasts for U.S. economic growth next year and putting strong odds on a recession in 2021.. “Eighty percent of the panelists see risks weighted to the downside,” Constance Hunter, president of the National Association for Business Economics, said Monday at the group’s annual meeting in Denver.

CNBC’s Bob Pisani reports that the stock market went from worried to rally mode on Friday:. The market is in a slow melt-up mode on Friday. There was a volume spike at 11:30 a.m. as European markets closed and as the S&P 500 passed the earlier highs of the day at 10:00 a.m. ET, a technical move in-line with typical momentum action, JP Morgan’ s Marko Kolanovic noted in…

The Federal Reserve’s new round of interest-rate reductions just might be working. That’s a clear sign that the rate cuts are shoring up investor confidence in heavily indebted companies-the segment of corporate America that’s perhaps most at risk to any downturn that hits the U.S. economy. The change in heart comes as the Fed seeks to stoke growth by reducing…

President Trump has an impressive defense for why he shouldn’ t be impeached: The economy is just too darn good! “How do you impeach a President who has created the greatest Economy in the history of our Country? If so, that would certainly be news to Bill Clinton.

An organization of business experts said in a new survey Monday the U.S. economy will grow by less than 2 percent in 2020– the slowest pace in three years. The National Association for Business Economics said in its October outlook it expects U.S. gross domestic product to grow by just 1.8 percent next year– a decline from the 2.1 percent projection it made in June.

An attorney for Stephen Cook, a broker who sued Ohio National to recoup trail commissions, said his client will appeal an Oct. 2 ruling dismissing his lawsuit.

U.S. unemployment fell to 3.5 percent in September, a 50- year low, the non-farm payroll report showed on Friday. 136,000 jobs were created last month after 168,000 were created in August, marking the 108th consecutive month of payroll gains. Also creeping in to paint a negative picture were fresh concerns about the upcoming trade negotiations between the U.S….

Roughly half of U.S. investors, 53%, report they have provided financial assistance, personal assistance or both to adult children or extended family members- not including school tuition, according to the Wells Fargo/ Gallup Investor and Retirement Optimism Index survey. “It seems to me that today’s landscape is far different than that of a generation ago,” Mary…

The U.S. economy added a modest 136,000 jobs in September, sending the unemployment rate to a nearly 50- year low, a mixed bag that some economists said was more evidence that the country could be headed for a slowdown. “It’s kind of a mixed picture,” said Douglas Kruse, an economist at Rutgers University and a former White House adviser under President Barack Obama.

“Most of us have grown up at the time when we are used to historically exceptionally rapid growth,” in the global economy, said Jaana Remes, a economist and partner at McKinsey Global Institute. “In a slowdown,” said Chun Wang, a portfolio manager at Leuthold Group, “you may get, say, a pay raise, but in a recession, you might lose a job. But it’s the uncertainty over which one is…

The tumble started Tuesday after the Institute of Supply Management’s manufacturing index dropped to its lowest level since 2009, a possible signal that the simmering trade war between the U.S. and China is taking a toll on the sector. “The fact the manufacturing side of the economy in the U.S. and globally is doing badly shouldn’t come as a newsflash to anybody,”…

You don’t have to become a Social Security expert. But you do need to know enough about it to make sure you avoid some of the more common mistakes that would-be beneficiaries and beneficiaries tend to make. What are some of the more common mistakes?

More than a decade into the longest economic expansion on record, almost two-fifths of people said in a new Bankrate poll that their main financial priority was just keeping their heads above water on living expenses rather than saving money. Nearly as many of those surveyed said that they’re not following financial budgets, according to Bankrate’s…

Manhattan real estate priced over $1.5 million have seen their sales fall 5 percent during the second quarter of 2019. Playgrounds for the rich and famous like Aspen and the Hamptons are seeing similar anemic results compared to past year’s. Art auctions are down with a 10 percent decline at Sotheby’s and a stunning 22 percent at Christie’s from a year ago.

It is not clear if Mr. Collins, a fourth-term Republican from Western New York, will resign from Congress. Mr. Collins, 69, one of President Trump’ s earliest and most fervent supporters, had been accused of using private information about a drug company in which he was invested to help his son and others avoid financial losses. Mr. Collins was to be tried in February…

Just three months remain in 2019. To shore up your money situation, consider these timely seasonal tips dealing with taxes, savings and more.

Millennials are on the verge of becoming big players in the investment field. Baby boomers, according to Forbes, are about to pass an estimated $30 trillion in assets down to millennials within the next few years. This generational transfer of wealth gives millennials many options on investing- starting with the investment firms they choose.

Join Jamie Hopkins, Director of Retirement Research at the Carson Group, in an exclusive, new video series, Rewirement Tips.

Advances in behavioral finance enable advisors to foster deeper relationships with clients and persuade them to make smarter money decisions.

The volatility of mortgage rates this month has caused plenty of angst for home buyers and owners wanting to refinance. But this week’s retreat comes as welcome news. According to the latest data released Thursday by Freddie Mac, the 30- year fixed-rate average fell to 3.64 percent with an average 0.6 point.

The bill, called the SAFE Banking Act, passed 321-103 on the strength of near-unanimous support from Democrats and nearly half of Republicans. “This is a sign the time has come for comprehensive cannabis reform,” said Morgan Fox, a spokesman for the National Cannabis Industry Association. “The fact that we got almost half the Republicans is a huge sign we’re moving…

Beyond Meat, Tilray and AAR were early leaders Thursday as the Dow Jones today led stock futures higher. Marijuana stocks rallied on a legislative win.

Former Chair of the Federal Reserve Bank Janet Yellen cautioned against the deregulation of governmental oversight of banks in the wake of the 2008 financial crisis, as well as the politicization of the Federal Reserve during a speech Saturday to a crowd of International Business School alumni and other community members. Yellen, who chaired the Federal…

The House Financial Services subcommittee on Housing, Community Development and Insurance issued the following hearing memorandum:. The Subcommittee on Housing, Community Development and Insurance will hold a legislative hearing entitled, “Protecting Seniors: A Review of the FHA’s Home Equity Conversion Mortgage program” at 2:00pm. on Wednesday,…

The trade war with China and a global slowdown have contributed to uncertainties that are clouding the outlook for the U.S. economy, now in its 11th year of expansion. Consumer spending, which accounts for about 70% of U.S. economic activity, has so far shielded the economy from some of the adverse effects of tariff and trade tensions. The latest government…

2019 SEP 23– By a News Reporter-Staff News Editor at Biotech Business Daily– Against a backdrop of global economic uncertainty, increased living costs and changing tax structures, the majority of high-net-worth individuals in the U.S. agree that it is more important than ever to future-proof one’ s wealth. The EIU polled 1,051 HNWIs across regions, genders and…

Check out seven policies and regulations that rewrote the rules of Wall Street.

New York Mayor Bill de Blasio issued the following news release:. Mayor Bill de Blasio, Council Member Ben Kallos, Council Member Miller, AARP and advocates rallied today to make New York City first city in the nation to create a universal retirement savings program. Currently, about one and a half million private sector employees in New York City have no access to a…

Millennials growing pool of assets are the future lifeblood of financial advisors. So keeping up with millennial characteristics is vital for success.

After years of success in building their business, financial advisors need to stop themselves from coasting by embracing new challenges as a way to stay motivated.

You don’t have to psych out your clients, but delving in to behavioral finance can make you a better listener and help strengthen bonds with clients.

Rewirement Tips: Property And Casualty Review from INN Videos on Vimeo. Join Jamie Hopkins, Director of Retirement Research at the…

According to an article from law firm Venable posted on legal news site Lexology.com, Virginia’s State Corporation Commission’ s ban on investment advisers operating in the state from using mandatory arbitration clauses in advisory contracts went into effect this week, but is unlikely to withstand a legal challenge.. It was meant to combat the“ growing trend…

Sep. 18– WASHINGTON– Federal Reserve officials on Wednesday cut interest rates for a second straight time as insurance against a recession, but there was a growing divide among policymakers about the future path of rates. At their meeting this week, a majority of Fed officials projected no more rate reductions in the foreseeable future, signaling that for now the…

WASHINGTON- The recent weakness in U.S. business investment may be largely related to falling oil prices and the grounding of Boeing’s 737 Max 8 jet, JPMorgan Chase finds, challenging claims that the trade dispute with China is undercutting capital spending. Business investment slowed sharply in recent months, prompting some analysts to read it as another…

—The Federal Reserve looks poised to cut interest rates for a second time Wednesday to help extend the economic expansion in the face of global weakness, President Donald Trump’s trade war with China and geopolitical risks such as the attacks on Saudi Arabia’s oil facilities. So has a belief that oil prices will remain elevated, that inflation might finally be…

O’Connell, CEO at Next Level Insurance Agency, gave his insights into turning a successful practice into a balanced personal life during the NAIFA Performance+Purpose convention in Orlando, Fla.

—For a second straight time, the Federal Reserve is set to cut interest rates this week to try to protect the economy from the consequences of a global slowdown and President Donald Trump’s trade war with China. Will Trump achieve at least a truce in his conflict with China and diminish a threat overhanging the U.S. economy? Is U.S. inflation, dormant for years,…

No less a figure than former Federal Reserve chairman Alan Greenspan has suggested that it’s just a matter of time before negative rates come to the United States. Last week, the European Central Bank deepened its negative rates as part of a package to fend off a recession. Negative rates represent another technique by which central banks, such as the Federal…

U.S. Bancorp executives, at a once-every-three-year meeting with top investors and analysts, said Thursday they can’ t take the company’ s strong performance for granted and are making big changes amid slowing growth. “We talk about this a lot,” Andy Cecere, U.S. Bank’ s chief executive, said in reply.“ One of my objectives is to not be Sears Roebuck. They said they don’ t…

The Independent Insurance Agents and Brokers of New York filed an appeal Monday challenging a New York Supreme Court ruling upholding the state’s new regulations governing annuity and life insurance sales.

Once you retire, it’s helpful to keep several tax opportunities and tax consequences in mind.

President Trump on Wednesday continued his attacks on the Federal Reserve, calling the central bank and its chairman, Jerome Powell,“ boneheads” and urging the central bank to cut interest rates to zero or set negative rates. “It is only the naïveté of Jay Powell and the Federal Reserve that doesn’ t allow us to do what other countries are already doing,” he added.“ A…

Estate planning is the process of managing and preserving your assets while you are alive, and conserving and controlling their distribution after your death. There are four key estate planning documents almost everyone should have regardless of age, health, or wealth. DURABLE POWER OF ATTORNEY You must consider what would happen if, for example, you were…

Financial officers from Wilson and Muir Bank, West Point Bank, WesBanco, Fort Knox Federal Credit Union and Citizens Union Bank were on hand at Tuesday’s Radcliff Small Business Alliance luncheon to offer some financial advice. James Watson of WesBanco said small business owners obviously have passion, but all too often, they have passion and no money.

Stocks rose broadly on Wall Street in afternoon trading Wednesday as investors welcomed China’s move to exempt some U.S. products from a recent round of tariffs. The sector is particularly sensitive to the fallout from the trade war between Washington and Beijing because many big tech companies, such as Apple, manufacture products in China.

Income inequality has roiled American society and politics for years, animating the rise of Barack Obama out of the collapse of the financial system in 2008, energizing right-wing populism and the emergence of nationalist leaders like Donald J. Trump, and pushing the Democratic Party leftward. “Poverty is a life-threatening issue for millions of people in…

You likely have heard the saying that the three most important factors in real estate are location, location and location. In wealth management, location is a similarly important factor. Asset location is a best practice for keeping as much of your wealth as possible- after taxes have taken their toll.

LPL reduced their 2019 S&P 500 EPS forecast in August to reflect increased risk to economic growth and corporate profits from the ongoing trade conflict between the United States and China. Although experts continue to expect resolution later this year or in early 2020, the odds of a more prolonged dispute have risen.

You might think your portfolio is safe, but are you absolutely sure? A steep market drop could be an expensive wake-up call.