The financial services industry is the least trusted of 15 sectors, according to the 2020 Edelman Trust Barometer. And only 18% of respondents believe that the system is working for them. It all amounts to an anxious public.
Read more The financial services industry is the least trusted of 15 sectors, according to the 2020 Edelman Trust Barometer. And only 18% of respondents believe that the system is working for them. It all amounts to an anxious public.
Its 14.6% holding made BlackRock the largest NorthWestern stakeholder at the utility’ s 2019 annual meeting. Asked about the consequences of other major shareholders adopting BlackRock’ s requirements, NorthWestern said Monday that its business practices are already in step with BlackRock’s expectations.
Fourth-quarter earnings season kicked off last week with 24 S&P 500 Index companies reporting fourth quarter results. The market’s reception to the first batch of results was mostly positive, particularly for several of the big banks.
Anexinet is expanding eMoney’s production environment across an HPE Synergy platform. Broadening the hybrid IT architecture enabled eMoney to rapidly deploy its financial application to customers while adding new cloud capabilities for specific time-to-market requirements.
Banks led a slide in U.S. stocks Tuesday as a virus outbreak in China rattled global markets, prompting investors to shift assets into bonds and defensive sector companies. The selling in U.S. stocks followed losses in Asian and European markets as investors worried about the new coronavirus spreading through China.
President Donald Trump touted his administration’s economic achievements in a speech Tuesday at the start of the World Economic Forum in Davos, Switzerland, saying the United States “is winning” like never before.
U.S. stocks were mixed Tuesday in the first trading day of a holiday-shortened week, following up on losses around the world as worries deepened about a virus outbreak in China. Six people have died, and 291 have been infected in China, just as people in the country were preparing to make billions of trips for the Lunar New Year travel season.
The SECURE Act impacts nearly all retirement savers, and some of the many details are more important than others. Here is an overview of the most significant changes as the SECURE Act starts rolling out in 2020.
In the United States, recent interest rate cuts by the US Federal Reserve may lend some support to economic activity. However, given persistent policy uncertainty, weak business confidence and waning fiscal stimulus, GDP growth in the United States is forecast to slow from 2.2% in 2019 to 1.7% in 2020.
Investors are demanding more impact accountability of companies and investment managers. ESG funds are pulling in an exponentially greater number of dollars, but the Securities and Exchange Commission is asking questions.
In this week’s Rewirement Tip, Jamie Hopkins discusses the strategy behind Roth IRA conversions. The Tax Cuts and Jobs Act puts Roth conversions high on the to-do list to take advantage of lower rates, Hopkins explains.
Less than six months ago, people found themselves reading about something called an inverted yield curve and its record for signaling economic downturns. The trade war with China showed no signs of abating. And the United Kingdom appeared on track for an abrupt exit from the European Union.
It’s part of what the Associated Press reports is a 10-year run during which the S&P 500 returned more than 13% annually. “It has been a very, very good market in 2019,” Bill Rice, a financial adviser with Laurel Highlands Financial Services in Somerset, said. Social Security benefits, medical insurance and other sources of expense and income should be considered.
Most advisors might be thinking they want to sell but only a few have actually planned how to do it, says Chip Roame of Tiburon. The succession process has six elements to consider.
Mother Jones, a liberal news website, reports that it has copies of internal memorandums circulated by Barclays, a powerful London-based bank and financial services firm. In one such memo, the bank warns that a Warren presidency “would directly impact corporate earnings.”
President Donald Trump said Thursday that he intends to nominate two people to serve on the Federal Reserve’s Board of Governors, an institution he has repeatedly attacked for not cutting rates deeply enough.
Very few Wall Street experts predicted that 2019 would be such a strong year for stocks and bonds. The U.S. economy continued to perform well, led by consumer spending, a strong housing market, historically low unemployment, and the Federal Reserve reducing interest rates.
While the majority of Americans age 40 and over claim to have a well-defined retirement strategy, almost the same number would give themselves a‘ C’ grade or lower on their retirement savings, according to a new survey conducted by The Harris Poll on behalf of TD Ameritrade.
A survey by the Insured Retirement Institute (IRI) finds that millennials’ expectations are not well aligned with the retirement planning steps they have taken thus far. Although nearly eight in ten millennials say that they have saved some money for retirement, nearly half – 46 percent – have saved less than $10,000.
Several stocks moved heavily or traded substantially over the past 24 hours. They include several big names, such as UnitedHealth and Target.
Advisors want to have the freedom and flexibility to provide the best possible client experience as true fiduciaries and differentiate themselves in order to compete for more wallet share. With overall wealth increasing in the U.S., there will be continued demand for the services that independent advisors deliver.
The CFB board reported significant gains in female, African American and Latino certificants. “CFP Board’s focused effort to improve diversity in the profession is having an impact,” said Kevin Keller, CAE and CFP Board chief executive officer.
The National Financial Educators Council conducted a survey with a single question: “When you have a financial question, who do you turn to for trusted financial guidance?” The most popular answer to the question depended on the age of the respondent.
Two clients’ true stories during the last bear market reveal the pitfalls and opportunities that come with investing in uncertain times. Do you see your clients in this tale?
Wells Fargo’s new CEO, Charles Scharf, has one of the hardest jobs in banking. After three months in the position, Scharf made his debut before Wall Street analysts Tuesday to report another disappointing quarter for the bank. For all of 2019, profits fell to $20 billion, compared with $22- billion in 2018.
For the Lilly Endowment, a good year means it’s time to cash in. The Indianapolis- based endowment, one of the nation’s largest charitable foundations, is unloading hundreds of millions of dollars of stock in its namesake company, drugmaker Eli Lilly and Co., continuing a sell-off strategy it began more than a decade ago.
With nearly $7 trillion under management, BlackRock is the largest firm in the business. The move to fundamentally shift its investing policy could reshape how corporate America does business.
By the end of 2019, the venture industry deployed $136.5 billion in US-based companies, surpassing the $130 billion mark for the second consecutive year, according to the PitchBook-NVCA Venture Monitor.
Stocks closed broadly higher on Wall Street Monday, sending the S&P 500 and the Nasdaq to record highs. Financial companies powered the rally, which came ahead of the scheduled signing of a“ Phase 1” trade deal between the U.S. and China on Wednesday. The gains came a day before major banks were set to kick off the latest earnings reporting season for U.S. companies.
You may have heard that timing is everything. And in many walks of life, that may be true- but not necessarily when it comes to investing. To understand why this is so, let's look at three common mistakes investors make:.
A new survey of CEOs by GLG shows that chief executives enter 2020 bullish about their companies’ futures and broadly optimistic about the global economy overall. 80% are confident that their company’s revenue will grow in the next 12 months and 51% think global growth will increase, while less than a quarter believe the U.S. will enter a recession in 2020.
As a business owner, you are always thinking of what you need to do now. But you can’t forget about the future yours and that of your business. In 2020, you can defer up to $19,500 of income, or $26,000 if you are 50 or older.
Let’s face it: 2019 is going to be a hard year to beat – stocks and 401 plans up more than 25% on average, wage gains of 3% to 5%, 7 million surplus jobs and the lowest unemployment and inflation rates in nearly 50 years.
The annuities debate is among the most intense and divisive in the financial services industry but the truth is much less flashy than the hardliners like to imply: as with most investment and insurance options, annuities can be a helpful tool for some, but are not a good fit for everyone.
—Global shares mostly rose Friday as worried receded that the United States and Iran might be stepping closer to the edge of war. Britain's FTSE 100 was little changed, down less than 0.1% at 7,593.34. U.S. shares were set to drift higher with Dow futures up 0.1% at 28,969. S&P 500 futures were up 0.2% at 3,280.70.
—Stocks around the world climbed on Thursday, and the S&P 500 was heading for a record as markets continued their rally on relief that the United States and Iran appear to be stepping away from the edge of war. Diminishing worries about a U.S.- Iran war put more of the market’ s focus on the economy, corporate profits and other inputs that directly affect stock prices.
Regarding the movement of equity prices, we associate with the words of Alan “Ace” Greenberg, the head of Bear Stearns during the 1987 market crash: “Stocks fluctuate, next question.” Markets had declined in the fourth quarter of 2018 as the Federal Reserve tightened money and Donald Trump’s trade war accelerated.
Q: I had a really good year in the stock market and my IRA is up a lot. Given the political situation and what is happening with Iran do you think I should take my gains and move to the sidelines? A: I understand why you might feel nervous.
Short-term interest rates are also often used by the Federal Reserve to help the economy recover from a recession or potential slow down, while also trying to cool down the economy if they feel it is getting over heated and increasing the potential for higher inflation.
Massachusetts Gov. Charlie Baker sent a letter Tuesday to Secretary of the Commonwealth William Galvin urging him to defer action on proposed fiduciary regulation. The proposal creates “confusion,” and ignores other state and national regulatory efforts, Baker wrote.
Key markets across the United States saw the effects of surging interest rates as refinance share declined month-over-month in Los Angeles, Chicago, Austin, Miami, San Francisco and Dallas. While the average interest rate on FHA and VA loans dropped in November compared to the month prior, the average rate for Conventional loans, which accounted for 73% of all…
O.N. Investment Management Co. launched the Envestnet Insurance Exchange for its advisors. The insurance network provides access to reputable insurance carriers and their annuity products alongside traditional managed account investments on the Envestnet platform.
Regarding the movement of equity prices, we associate with the words of Alan “Ace” Greenberg, the head of Bear Stearns during the 1987 market crash: “Stocks fluctuate, next question.” Markets had declined in the fourth quarter of 2018 as the Federal Reserve tightened money and Donald Trump’s trade war accelerated.
Advisors have been coasting for a while on a bull market and a dearth of real competition and disruption. When the market turns and the competition gets real, many RIAs are going to find staying in the race to be near impossible due to three major factors holding them back…
In this week’s Rewirement Tip, Jamie Hopkins discusses the uncertainty with those retirement targets.
The Investor Movement Index® increased to 5.55 in December, up 7.4 percent from its November score of 5.17. The IMX is TD Ameritrade’s proprietary, behavior-based index, aggregating Main Street investor positions and activity to measure what investors actually were doing and how they were positioned in the markets.
Women control about $14 trillion in the United States, the equivalent of the combined gross domestic product of China and India, Fortune magazine reported in April. Firms need to listen to what women want and greater diversity among their advisers and managers, a Morgan Stanley executive says.
The news Friday that a top Iranian commander was killed in a U.S. drone strike sent global markets reeling. As the world awaits the next news in the unfolding showdown between the U.S. and Iran, Brad McMillan of the Commonwealth Financial Network explores the financial fallout of full-blown war.
The yield curve was relatively flat at the end of 2018 and then inverted in 2019, with the interest rates for the 10- year Treasury lower than the shorter-term maturities such as the 3- month Treasury. An inverted yield curve often proceeds a recession as the Federal Reserve is pushing the target federal funds rate higher.
The optimism of high-net-worth investors fell a full 10 percentage points, to 55% in 2019 from 65% in 2018, as concerns about markets, the economy and politics at home and abroad continued dominating the headlines.
The bull market went into overdrive in 2019. The S&P 500 rushed ahead by 29%- its best showing in six years. But as much as investors will always welcome such returns, it does make it tougher to be an income investor.
Oil prices surged and most major global stock markets declined Friday after an Iranian general was killed by U.S. forces in Iraq. Qassem Soleimani, head of Iran’ s elite Quds Force, was killed in an air attack at the Baghdad international airport prompted expectations of Iranian retaliation against U.S. and Israeli targets.
The inflation rate has not been a cause of concern in this country for well over a decade. Throughout the last decade, inflation has averaged no more than 1.5 percent, which is well below the Federal Reserve Bank's targeted inflation rate of 2 percent. Neither do global economists or Wall Street strategists.
Someone who came into 2019 with their money split between the largest U.S. stock and U.S. bond funds made 19.6% last year. The moves helped silence a warning bell of recession that sounded in the U.S. bond market during the summer, the first time that had happened since the run-up to the Great Recession.
A year is built one day at a time. It’s the busy Tuesdays when you never have a moment and the lazy Sundays when you can finally relax. But while New Year’s money resolutions are common- with 84% of Americans setting money goals, according to a survey from NerdWallet conducted by The Harris Poll in 2017- so is abandoning them.
The market’s trajectory to a strong finish for the year began in October as stocks emerged from a late-summer slump caused by fears that the U.S. economy could be headed for a recession. Those concerns eased as investors drew encouragement from several positive signs.
It was a very busy year and our readership reflected the frenetic time for financial services. Here are the top five most-read stories on Advisor News.
The declines tracked a broad retreat overnight on Wall Street that erased some of the major U.S. indexes’ recent gains, though the market remains on track to end the year with its best performance since 2013.. Britain's FTSE 100 slipped 0.5% to 7,549.72 while the CAC 40 in Paris shed 0.4% to 5,959.86. But elsewhere in Asia, Hong Kong's Hang Seng index lost 0.5% to…
Stocks opened slightly lower on Wall Street in quiet trading at the beginning of another holiday-shortened week. Investors were awaiting updates on the signing of a trade deal between the U.S. and China and keeping a wary eye on North Korea.
