Many times, advisors do not feel comfortable asking clients about disabilities. In turn, families may also be reluctant to bring the subject up. Opening up this communication is crucial to planning effectively and requires using the right language.
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Money has baggage. And since money touches so many aspects of our lives, it is fertile ground for our anxieties and worries. It can also be an expression of our deepest values and beliefs.
Women who retire when their husbands do may be giving up more wealth than they realize.
Shares of electric car maker Tesla Inc. fell more than 5 percent Tuesday after a report that it’s under criminal investigation over statements about taking the company private. Bloomberg News reported that the Justice Department probe is running parallel to an investigation by the Securities and Exchange Commission. Tesla shares fell 5.3 percent to $279.13 in midday trading.
According to the SEC’s complaint, Defendant Thomas J. Caufield convinced more than 40 investors to invest over $6 million in his high-yield promissory notes by promising investors significant returns generated from the revenues of what he claimed was a profitable franchise. The SEC’s complaint, filed in the federal district court for the Northern District…
Only 47 percent of widowed couples planned for life after the death of a spouse, but more thatn three-quarters of them said the passing of their spouse was the most significant event of their life.
Stocks are opening slightly lower on Wall Street as investors waited to see whether the Trump administration will formally announce tariffs on another $200 billion-worth of Chinese goods. The two governments have already imposed 25 percent tariffs on $50 billion of each other’s goods. Restaurant chains and technology companies are among the decliners.
Americans’ concern about the state of the U.S. economy is at its lowest level on record, according to a new survey that’s been tracking the issue for decades. Although the storm could be the costliest in U.S. history, economists don’t expect Florence to have a long-term effect economically.
On the brink of crumbling a decade ago, America’s financial system was saved by an extraordinary rescue that revived Wall Street and the economy yet did little for individuals who felt duped and left to suffer from the reckless bets of giant banking institutions.
An employee on maternity leave was watching news on TV the day before she was returning to work. Then she saw it would also be the last day as she knew it at her venerable Wall Street firm.
A Republican-led panel in the U.S. House of Representatives voted Thursday to make the individual tax cuts from President Donald Trump’s 2017 tax overhaul permanent, a move seen by some as a bid to help GOP candidates in the Nov. 6 congressional elections.
On the brink of crumbling a decade ago, America’s financial system was saved by an extraordinary rescue that revived Wall Street and the economy yet did little for individuals who felt duped and left to suffer from the reckless bets of giant banking institutions.
US housing starts are forecast to see annual growth of 2.4% through 2022, scaling up to 2007 levels. But the size of units is expected to shrink over the period.
In 2016, three New Hampshire financial advisors jumped from Wells Fargo Advisors to stamp the footprint of New Boston- based Steward Partners LLC in Keene. Among the major wirehouses- large integrated brokers with national markets and all part of the nation’s largest banks- Morgan Stanley Wealth Management has lost 570 advisors, Wells Fargo Advisors 476,…
However for millions of consumers the scars are still raw, with 65 percent of respondents saying they have yet to fully recover financially, and the large majority reporting they remain distrustful of Wall Street. In a new report, ” Betterment Consumer Financial Perspectives Report: 10 Years After the Crash,” Betterment, the largest, independent online financial…
With Ohio National closing its annuity business, the next step is how soon the block might be put up for sale.
One thing is for sure, there won’t be any shortage of inquiring buyers who want to know.
As much as $10 trillion of small business wealth could be transferred over the next 10 years by the same people who once made hula hoops all the rage, blue jeans an everyday fashion choice and dramatic social change a way of life. “It seemingly is like nothing this country has ever experienced,” says Josh Curtis, managing director at Footprint Capital, a Columbus-…
–According to the 2018 Allianz Tuition Insurance College Confidence Index, roughly 40 percent of families find the Free Application for Federal Student Aid challenging to complete– a troubling statistic considering the growing number of families saving nothing for college. The index reveals a growing “college savings gap,” as even parents who have saved have…
How clients, bosses or even other family members perceive financial advisors is often different than how those very same advisors see themselves.
The financial advisory industry suffers from a lack of clarity around the services included in wealth management. Spectrem Group’ s new study, Defining Wealth Management, asks investors what undefined industry terms mean to them, and what they expect from a firm that offers“ wealth management services.” Based on…
Another typical day at Tesla. This time, the executive departure is David Morton, chief accounting officer at Tesla Inc., who called it quits after just a month on the job. Tesla only has a few weeks left to deliver on Musk’s promise to post sustained profits starting in the third quarter after losing more than $700 million in the second quarter.
Robo-advisory apps make aspects of investing more accessible, more seamless and less costly. But as robo-advisory technology matures and a new generation of investors emerge, it’s becoming apparent that automation won’t seize control of the investment world anytime soon.
The bankruptcy filing of Lehman Bros. 10 years ago this month shot off a flare that signaled that an already weak economy was in deep trouble. Caught in the storm that led to the financial crisis were homeowners who found themselves underwater on their mortgages, meaning they owed more than their homes were worth. Jesse Van Tol, CEO of the National Community…
Mark Henry, a certified estate planner as well as founder and chief executive officer of Alloy Wealth Management, offers five tips that parents can pass on to their young-adult children to help them start planning for retirement:. Explain to them the importance of beginning retirement savings just as that they start their first job. “While they reason that their…
The current bull market began in 2009, most analysts agree, and is the longest on record.
–Women in the United States control $14 trillion of the nation’ s personal wealth, or slightly more than half, yet their approach to investing is often underappreciated by the financial services industry charged with helping individuals and families grow their savings, according to research commissioned by PIMCO, one of the world’ s premier fixed income…
On Wednesday, the Senate confirmed the SEC’s newest commissioner Elad L. Roisman.
State and Securities and Exchange Commission regulators are scrambling to finalize best-interest standards after a late-game appeals court decision tossed out the Department of Labor fiduciary rule.
–Twine, the savings and investing app backed by John Hancock, today released the results of a new consumer survey, which uncovered new attitudes and habits around investing among 1,000 U.S. adults. Forty-four percent of millennials scored a passing grade on the investing pop quiz. There are misconceptions around what it takes to start investing. Nearly half of…
The industry is rolling out newer, flashier innovations — from robo-advising platforms to smart speakers that provide account balance updates — that many plan sponsors think could be the solution that helps their workforce get on track for retirement.
Evensky is chair and principal of Evenksy& Katz/Foldes Financial Wealth Management in Miami and Lubbock, TX, and Professor of Practice at Texas Tech University. Dedicated to the advancement of the financial planning profession, he served on the TIAA-CREF Institute Advisor Advisory Board, International Association of Financial Planners Board, Charles…
Hawaii Business editor Steve Petranik interviews Kaleialoha K. Cadinha-Puaa, CEO, and Neil Rose, president and chief investment officer, of Cadinha& Co., registered investment advisors based in Honolulu. Steve Petranik: We have been enjoying the longest bull market in U.S. history and a lot of people have done very well in the stock market. Neil Rose: The simple…
Last fall, three big wirehouses dropped a bombshell on the broker recruiting world with plans to opt out of an agreement to provide safe passage to advisors leaving for another firm.
Owing money in retirement isn’t ideal- but most people do. Seventy percent of U.S. households headed by people ages 65 to 74 had at least some debt in 2016, according to the Federal Reserve’s latest Survey of Consumer Finances. “It is much easier to keep working for another year or two than to try and come back into the workforce when they are older and the employer…
Asian shares are mixed as the lack of new leads following a U.S. holiday kept attention focused on trade worries and slower Chinese manufacturing. South Korean and Chinese indexes rose while Japan’s benchmark Nikkei 225 was lower. Australian shares fell after the Reserve Bank of Australia maintained its economic forecast and kept its benchmark interest rate at a record-low 1.5 percent.
For many, updating their estate plan is one of the last things on their mind. Many are lulled into believing that the tax penalties of their death are minimal because the federal exemption is set at $11.2 million per taxpayer or $22.4 million per married couple. My home state of MA has an individual exemption of $1 million or $2 million per married couple.
One in three of actively managed funds either performed at the same level or outperformed passively managed peer funds in 2017, according to a Morningstar study.
According to the latest Charles Schwab ETF Investor Study, three out of four exchange traded fund investors would invest more in SRI funds “if they had more education and professional guidance.”
A decade removed from the 2008 financial crisis advisors have shifted toward “safer” products as they approach planning through a more balanced and holistic lens, a new survey found.
You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you’ll need to fund your retirement. That’s not as easy as it sounds, because retirement planning is not an exact science.
A Trump impeachment on the economy, stock market and bond market. After all, there’s a lot at stake for Americans, regardless of political affiliation.
–Saving for retirement ranks as a top long-term financial goal among millennial educators, yet tackling credit card debt and student loans is a major barrier, according to a new study from Security Benefit, an innovative leader in the U.S. retirement savings market. Security Benefit has a long-term working relationship with the education market and decided to…
New research from Schwab Retirement Plan Services, Inc. reveals that, despite having a positive outlook for retirement, American workers regret past spending and are concerned about being able to ultimately save enough for their golden years. The nationwide survey of 1,000 401 plan participants finds that while 70 percent believe their quality of life in…
“Gut Feelings” May Be Misleading Investors on How Economic Factors Affect their Portfolios.
2017 was the lowest year on record for registered firms entering the industry, according to FINRA’s 2018 Industry Snapshot Report.
The usage of apps and fears over data privacy are two very different numbers – and represent two very different mindsets, according to The Clearing House, a banking association and payments company
FORT WASHINGTON, Pa. and RADNOR, Pa., Aug. 29, 2018/ PRNewswire/– Lincoln Investment, one of the nation’s fastest growing broker-dealers serving over 1,100 financial advisors representing $36 billion in assets, today announced its partnership with eMoney Advisor, a leading provider of scalable wealth management technology. Lincoln now offers eMoney’s robust…
Social Security benefits are the primary source of retirement income for the majority of retired Americans. It’s therefore not terribly surprising that many retirees and near-retirees are worried about whether their Social Security payments are safe.
Study indicates problem is lack of financial literacy. Despite such statistics, many people aren’t making good decisions in retirement planning, says Charlene Kalenkoski, director of the Retirement Planning and Living Research Initiative in the Texas Tech University Department of Personal Financial Planning. Contrary to their expectations, they found…
Tesla shares fell on the first day of trading after CEO Elon Musk said he is ditching efforts to take the company private. Not only is Elon Musk not going to give us the next act of his batshit melodrama, he “s endangering the company that provides shareholders with counter-logical value and the media with a constant stream of content! There is a bottomless pit of…
Aug. 27– The S&P 500 made news last Friday when it closed at an all-time high of 2,874.69. For the Russell 2000, the smaller U.S. companies whose stocks are included in the benchmark give it less potential exposure to some of the geopolitical and macroeconomic issues that have dominated headlines, especially the ongoing trade disputes between U.S. and many of its…
Clients still scarred from the losses are better prepared for the next market nosedive, advisors say.
The fact is most Americans have a combination of credit cards, student loans, mortgages, car loans and personal loans, which make it difficult to get ahead in paying off burgeoning debts
In a statement from the SEC, Chairman Jay Clayton shared his takeaways from the feedback the commission has received regarding the proposed rule-making package that contains Regulation Best Interest, Form CRS and a fiduciary standard.
The bull market in stocks has been running for nearly 8½ years one of the longest upward stretches ever. Have you rebalanced your portfolio lately to account for that? “Consistent rebalancing is a reliable, and often underappreciated, source of higher risk-adjusted performance for the patient investor,” Brent Leadbetter and two colleagues at…
President Trump painted a doomsday picture of the U.S. economy in which “everybody would be very poor” should Congress move to impeach him — but economists and history disagree.
Data from LPL Financial suggests that while active managers have struggled to perform against equity benchmarks the past few years, they may be poised for a comeback.
The S&P has spent 23 days at one percent movement or more in the first quarter of 2018. Yet, millions of American investors have the misconception that the current market is “stable” and “easy” leading them to make uniformed and risky financial decisions.
The current bull run on Wall Street became the longest in history on Wednesday at 3,453 days, beating the bull market of the 1990s that ended in the dot-com collapse in 2000.
After 17 consecutive quarters of declines, second-quarter sales of VAs rose – if ever so slightly – 2 percent to $25.8 billion compared with the year-ago period, LIMRA Secure Retirement Institute reported.
