‘There’s More Work To Be Done:’ Reg BI Faces Criticism At Congressional Hearing

March 19– Mar. 19– Fred Berney spends his nights in his basement, surrounded by video editing equipment. The 79- year-old Walkersville resident owns his own video business, where he edits video photo slideshows or will edit videos. At one point, the company had a contract with Booz Allen to translate textbooks into videos.

Ms. Tirschwell, 53, was an experienced investor who had been hired the previous year to raise and run a new distressed debt fund for TCW. TCW alleged that just days earlier, Ms. Tirschwell breached an ethical wall by telling an employee in a different department about a potential deal. As Ms. Tirschwell sat there processing the news, the chief executive of TCW, David…

Amanda Hill, 27, deals with big student loan debt by doing everything she can to keep her other bills small.

The Securities and Exchange Commission’s Regulation Best Interest is well-meaning but doesn’t go far enough, the Chair of Certified Financial Planner Board of Standard’s Board of Directors testified today before a Congressional subcommittee. “While we appreciate the opportunity the rule proposals represent, our concern is that they offer the…

Examining the SEC’s Best Interest Rule: “. And in the House bill, we did subject brokers to the same exact fiduciary duty that investment advisers are already subject to– we said that the SEC shall write rules ensuring that brokers who advise retail investors are subject to a legal standard that’ shall be the same as the standard of conduct applicable to an…

The House Financial Services subcommittee on Investor Protection, Entrepreneurship and Capital Markets issued the following testimony by Barbara Roper, director of investor protection for the Consumer Federation of America, at a hearing entitled “Putting Investors First? I am Barbara Roper, director of investor protection for the Consumer Federation of…

Maryland consumers will have less access to professional financial advice, insurance products and investment products under proposed legislation that imposes sweeping, ill-defined burdens on financial advisors, according to the Insured Retirement Institute (IRI), a leading trade association for the retirement income industry.

US stocks move broadly higher, powered by technology and health care stocks. The higher opening puts the market on course for its third straight day of gains as it continues to rebound from its worst week since December. Nvidia and CVS rose. Rite Aid surged on plans to shake up management and trim jobs.

If you feel dread when you think about retirement instead of gleeful anticipation, it could be because you don’t know exactly what your goal is. Here’s how to help target a savings amount and how to get there.

Nationwide Mutual Insurance issued the following news release:. New research from the Nationwide Retirement Institute finds the majority of business owners consider the cost of healthcare to be the biggest expense for those in retirement, outpacing housing, taxes, food and transportation. “Business owners want to talk about employee benefit solutions that…

A broad rally led by technology companies drove U.S. stocks sharply higher Monday, giving the S&P 500 its biggest increase since late January. A sharp decline in Boeing stemmed the gain for the Dow Jones Industrial Average. Investors drew encouragement from a report showing a slight increase in U.S. retail sales for January after a steep decline in December, and…

If you talk to any competent eldercare professional, they will stress that pre-planning is the key to making good choices when it comes to long term care. Unfortunately, what generally happens is that family members wait until a crisis occurs, and then, naturally fast actions leads to hasty, poorly planned decision making. Ken Dychtwald Ph.D., an accomplished…

Bulls dominated the stock market today as the key indexes found support at their 200-day lines. Soaring chip and software stocks boosted the Nasdaq.

Another wave of selling on Wall Street Friday left the S&P 500 with its worst weekly showing since January and its eighth loss in the last nine days. The sell-off, which lost some strength toward the end of the day, followed a surprisingly weak jobs report and more signs that the global economy is hitting the brakes. The U.S. jobs report is the latest batch of…

After Microsoft, there’ s Apple, Amazon, and Google’ s parent company Alphabet. Today, the iPhone accounts for most of Apple’ s revenue, helping Apple to become the first publicly traded company worth more than $1 trillion last year. Both now trade well below that level, and jockey with Microsoft for the most-valuable U.S. company title with valuations of around $800…

Total household net worth in the fourth quarter of 2018 dropped by the largest amount since the fourth quarter of 2008 when the country was in the midst of a steep recession, according to data released last week by the Federal Reserve. In the fourth quarter of 2018, it fell by about $3.7 trillion, a 3.5 percent quarterly decline. More importantly, most of the…

As the bull market for U.S. stocks celebrates its 10th birthday, joining the party has never been cheaper or easier. Investors can buy or sell stocks on their phone with the flick of a thumb, and for a much lower cost. And they also have more choices after the industry introduced thousands of funds to cover everything from the broadest swaths to the smallest niches of the market. That said, investing in the market is still risky.

Broad losses in Shanghai and Hong Kong are leading Asian markets lower, after China reported its exports plunged more than 20 percent in February. Selling Friday also was fueled by worries that the U.S. and China may not be as close to a trade deal as President Donald Trump has suggested. The Shanghai Composite index sank 4.4 percent and Hong Kong’s Hang Seng retreated 1.7 percent, while Japan’s benchmark gave up more than 2 percent.

Stocks are opening lower on Wall Street, putting the market on track for its fourth loss in a row and its first losing week since January. Banks and technology companies had some of the biggest losses in early trading. Kroger slumped after the supermarket operator reported earnings that fell short of Wall Street’s forecasts. European markets narrowed their losses after the European Central Bank pushed back the earliest date of interest rate increases and announced more cheap loans for banks.

The Federal Reserve says the U.S. economy was expanding in January and February, but half the country was seeing fallout from the 35-day partial government shutdown. Some manufacturers expressed worries about weakening global demand for their products and adverse effects from President Donald Trump’s trade policies.

Hence was born, on March 9, 2009, one of the strongest bull markets ever. People who exited the stock market around March 2009 and never re-entered paid a huge price in terms of missed opportunities. Stocks began their rally against a bleak economic backdrop back in March 2009.

Deb Fischer, R- Nebraska, issued the following column:. In his autobiography, President Teddy Roosevelt sought to clear the air. When our investors know they are treated honestly and fairly, they will continue to grow and expand business here in Nebraska and throughout the country.

Small and mid-size business owners are upbeat but also showing some wariness about the economy. That’s the finding of a survey released by researchers at Pepperdine University and Dun & Bradstreet Corp. The survey found that nearly 80 percent of companies expect to perform better in 2019 than last year. The number of companies planning to hire the next six months was up slightly. But nearly a third who don’t plan to hire say uncertainty about the economy is stopping them from adding staffers.

Byline: Lee Barney and Rebecca Moore. There are dramatic differences when it comes to retirement planning behavior by levels of financial fragility, according to a report from the Society of Actuaries, “Aging and Retirement: Financial Fragility Across the Generations.” The SOA interprets financial fragility as vulnerability to a financial crisis and having a…

You don’t have to be wealthy to have an advisor, the results of an industry association membership survey showed.

Feb. 28– Feb. 28– WASHINGTON– The nation’s economic growth declined at the end of last year for the second straight quarter, denying President Trump the 3% annual increase he had promised that Republican tax cuts would spur. Total economic output, also known as gross domestic product, grew 2.9% in 2018, the Commerce Department said Thursday in a report that was…

Next month marks the 10-year anniversary of the current bull market’s beginnings. Yet many Americans remain reluctant to invest in the stock market, a scary hangover from the Great Recession.

Social Security has been a pillar of retirement life for several decades, but how much do you really know about it? The Social Security trust fund exceeds the gross domestic product of every major economy in the world, except the nine largest: China, the European Union, the United States, India, Japan, Germany, Russia, Indonesia, and Brazil.1. For 61% of retirees, Social…

After Hours: Etsy earnings beat, sending shares toward a buy zone in wild action late. Tesla fell as the SEC asked a judge to hold Tesla CEO Elon Musk in contempt.

NEW YORK- Health care and energy companies led U.S. stocks lower Thursday, ending a three-day winning streak for the S&P 500 and giving the benchmark index only its fourth loss this month. The modest sell-off came as investors weighed mixed economic data and earnings reports while keeping an eye on Washington, where U.S. and Chinese negotiators resumed talks…

Social Security is a complicated element of anyone’s retirement plan. Here are the most common mistakes individuals tend to make and how to avoid them.

U.S. stock indexes edged higher in early trading Wednesday, extending modest gains from a day earlier, as investors reviewed the latest batch of company earnings reports. Gains in consumer goods, technology and communications companies outweighed losses in health care and financial stocks. Garmin rose after reporting better sales. CVS Health slumped after the pharmacy operator gave a 2019 outlook that fell short of Wall Street’s expectations.

Managing debt is the No. 2 financial concern of Millennials with investable assets of $100,000 or more, cited by 31%, according to the Advisor Authority Study commissioned by Nationwide Advisory Solutions. By comparison, managing debt is rated fourth by Gen Xers and does not break the top five for Baby Boomers or Matures. In fact, Millennials may be grappling with…