Working efficiently has become more important. To work efficiently, advisors must set priorities and delegate responsibilities that take away from their core activities.
Read moreIs this it? Is this the last step to recession? It seems we have been asking this question for a few years now. But there might be reasons to think that this time is the real one. The question now might be will it be a blip or something far bigger?
By a 227-200 vote, the U.S. House of Representatives today approved a package of amendments to HR 3351, the Financial Services and General Government Appropriations Act, that includes a provision to prohibit the U.S. Securities and Exchange Commission from implementing or enforcing Regulation Best Interest.
According to the study, roughly, 85 million Americans use social media to learn more about financial advisors. Six in 10 of these consumers say they use social media sites to find information on financial services products and services or were looking for reviews on financial professionals.
Changes are to the Social Security Administration pension program are an annual event and 2020 is no different. Some changes are due to formulas, while others are part of the legislative framework underpinning Social Security. Here are six changes on the books for 2020.
Learn about your client’s personality quickly and adapt to the way they want to have information presented to them. Client personalities typically fall into four distinct categories: the driver, the intellect, the feeler and the amiable.
MILWAUKEE, Nov. 13, 2019 /PRNewswire/ — A new release of findings from Northwestern Mutual’s C.A.R.E. (Costs, Accountabilities, Realities, Expectations) Study…
Hank Hurst and Jaret Rice enjoy digesting bland tax data and spitting out tasty returns for their clients. The partners at The Hurst Company, Certified Public Accountants and Advisors have compiled a presentation about the new federal tax laws, what they’ve learned and how they’ve responded. They ran through the presentation last week at their office at the…
The Protected Lifetime Income Index study, a recent survey of 3,119 adults by the Alliance for Lifetime Income, shows that a mere 28% of non-retired Americans have made an effort to determine their likely monthly income needs in retirement —perhaps the single most important thing people should be planning for.
Under the terms of the transaction, Ladenburg has agreed to be acquired by Advisor Group through a cash merger, in which each outstanding share of Ladenburg’s common stock will be converted into a cash payment of $3.50 per share. Following the completion of this transaction, the expanded Advisor Group organization will continue to be led by its current CEO and…
WASHINGTON, D.C. (Nov. 11, 2019) – Fifty-one insurance and financial services professionals, one representing each state and the District of…
President Emmanuel Macron’s visit to China this week suggests that the United States risks being sidelined on the global stage under President Donald Trump. Just as the Trump administration formally launched the process of pulling out of the 2015 Paris climate agreement, France and China issued a ” Beijing call” on Wednesday for increased global cooperation…
–A new survey from Wilmington Trust, in collaboration with experts from its parent company M&T Bank, finds that a clear majority of owners of privately held businesses are unprepared to transition or sell their business, even as Baby Boomers retire and hundreds of thousands of businesses come to market over the next decade. The quarterly survey, Wilmington…
Lincoln Financial Group today reported a net loss for the third quarter of 2019 of $161 million, or$ per diluted share available to common stockholders, compared to net income in the third quarter of 2018 of $490 million, or $2.24 per diluted share available to common stockholders. “Appropriate adjustments to our assumptions, including interest rates, as part of…
Less than three months after receiving an IRS Private Letter Ruling that eases the taxation of advisory fees, Great American Life ® released a new endorsement that goes one step further to simplify the payment of advisory fees from an annuity. Plus, clients had to consider how the withdrawal would affect their annuity benefits,” says Tony Compton, Great…
–It won’t come as a surprise that business owners view 401 s as advantageous both for their business and their employees. 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,…
AMARILLO– If 69- year-old Lynda Sue Costley wants to shower, she has to go to a friend’s house. Her trailer, on a gravelly road outside Amarillo, hasn’t had running water since 2014– when her husband died from cancer. But every month, she receives a letter in the mail saying the federal government is withholding $134 from her Social Security checks– the equivalent of 18…
–LPL Financial Holdings Inc. today announced results for its third quarter ended September 30, 2019, reporting net income of $132 million, or $1.57 per share. We also closed our acquisition of Allen& Company, and are excited that their advisors have joined our team. We invested for organic growth across recruiting and technology, completed the acquisition of…
Americans have been riding a wave of record high levels of personal financial satisfaction for the last two and a half years. However, decreases in job openings against the backdrop of a recent decline in corporate optimism in the U.S. economy have pushed the AICPA’ s Q3 2019 Personal Financial Satisfaction Index down slightly.
How has the definition of family evolved over recent years? That’ s what Massachusetts Mutual Life Insurance Company set out to discover and asked 3,000 Americans via an online survey conducted by PSB Research in June. This press release features multimedia.
Principal Financial Group issued the following news release:. Principal Financial Group (R) today announced further progress in the integration of the Wells Fargo Institutional Retirement& Trust business, by naming technology platforms for its Trust and Custody, Nonqualified and Employee Stock Ownership Plan business segments. Tailored Trust and…
To help navigate these changes, Crowe LLP, a public accounting, consulting and technology firm in the U.S. with offices around the world, has issued “Tax Planning: 2019 Year-End Guide.” According to Gary Fox, managing partner of tax services at Crowe, smart timing of income and expenses can reduce tax liability, and poor timing can unnecessarily increase it. “
Mr. Hammer and Mr. Sanabria are expected to build a global secondary investment capability that focuses on general partner-led and special situation transactions, and partners with private equity, private credit and secondary fund sponsors. Mr. Hammer and Mr. Sanabria expect to harness Manulife’s track record as a collaborative investor and long-time fund…
JPMorgan Chase is expanding its commitment to giving people with criminal backgrounds a second chance by supporting their reentry into the workforce, community and local economies. Public Policy Agenda: Advancing a public policy agenda through the new JPMorgan Chase Policy Center that reduces barriers to employment for people with criminal backgrounds;…
In a letter this week to Senate Majority Leader Mitch McConnell, R-Kent., Sen. Tim Scott, R-S.C., lobbied for immediate Senate consideration of the bipartisan Setting Every Community Up for Retirement Enhancement (Secure) Act. The bill passed the House by a 417-3 vote on May 23.
A new Eaton Partners’ survey finds that an overwhelming majority of investors (69%) say they are concerned about the anti-private equity rhetoric by some U.S. presidential candidates, even though most respondents admit any potential action remains unclear. Sens. Bernie Sanders, I-Vt., and Elizabeth Warren, D-Mass., have railed against Wall Street.
Low jobless rates and rising incomes are helping to fatten state coffers across the U.S. Revenue from sales, personal and corporate taxes is on the rise– the best growth since before the Great Recession. The trade war with China is battering the agriculture industry in the Midwest and the prairie states and crimping activity at Southern ports.
Retirement may sound far away or unachievable to many Americans, but new research from Lincoln Financial Group shows that consumers who take the time to envision their ideal retirement not only know they need to save more, but are actually saving at a higher rate than those who have no idea what their ideal retirement looks like. “Planning for retirement is more…
—Bank of America’s third quarter profits fell 19% from a year ago as the bank wrote down the value of its long-time joint venture payment processor First Data. The bank, based in Charlotte, North Carolina, reported a profit of $5.8 billion, or 56 cents a share, down from $7.2 billion, or 66 cents a share, in the same period a year earlier. Bank of America had to write off the…
Your employer-sponsored account is one of the best places to save for your retirement. The No. 1 reason I encour- age most investors to participate in their 401 is that many employ- ers provide participants an employee match up to a certain percentage of salary. Additionally, contribution limits are very generous at $19,000 for 2019, with an additional $6,000 for…
Oct. 15– After several victims of his $1.3 billion Ponzi scheme described him as a financial predator, Robert H. Shapiro was sentenced to a maximum 25 years in prison on Tuesday for committing investment fraud and tax evasion. Shapiro, the former CEO of the Woodbridge Group of Companies, masterminded a nationwide real estate investment scheme from his two bases in…
The bank, based in San Francisco, said Tuesday that its earnings fell to 92 cents per share from $1.13 per share a year ago. The results missed the average Wall Street estimate of $1.15 per share, based on a survey of seven analysts by Zacks Investment Research. Last year, the Federal Reserve capped the size of Wells Fargo’ s assets.
A Philly high school teacher is introducing teenagers to the world of stocks, bonds, the dangers of credit cards, and the thrill of investing over the long-term to become a millionaire– at Olney Charter High School in the Olney section of the city. LaSalle initially entered a teacher grant competition and won $15,000 from the Philadelphia Academy of School…
The state of Michigan’s retirement systems have ended a contract with an investment company that managed more than $600 million in pension funds after the CEO made “completely unacceptable” comments at a conference. The decision came two days after Fisher Investments’ founder and CEO Ken Fisher spoke at the Tiburon CEO Summit in San Francisco.
–Avant Global, LLC a leading relationship-driven venture capital investment, business advisory and private equity fund management firm, has announced a partnership with White Field Capital Partners to launch a $200 Million private equity growth fund. White Field Capital Partners and Avant Global have committed an initial investment of $2 million into the…
Oct. 11– Former Charlotte financial adviser Jim Heafner and Taylor Capital Management have been ordered to pay $1.03 million by a regulatory agency after five Charlotte- area retirees say they invested with Heafner and lost more than $500,000. Clients had accused him of selling unregistered financial instruments issued by 1 Global, the Observer reported in…
During a fireside chat, Fisher, founder and chairman of Fisher Investments, made what some attendees called “absolutely horrifying” comments during his session with summit attendees. Some say the growing diversity in financial services is the reason such talk is being rejected; others say there is much work to do.
Ken Fisher reportedly made several offensive remarks during a “fireside chat” at the Tiburon Advisors’ CEO Summit, which has traditionally been a place for industry execs to speak candidly and off the record about their respected fields. The Tiburon managing partner says Fisher will never be invited back.
Lincoln Financial Group announced it has introduced two new products for registered investment advisors: a commission-free, single premium immediate annuity, Lincoln Insured Income SM Advisory and a commission-free deferred income annuity, Lincoln Deferred Income Solutions SM Advisory. These new solutions will help fee-only advisors provide options…
MINNEAPOLIS – Americans’ fear of a recession continues to rise, as half of Americans now say they are worried a…
Sullivan appeared in Forsyth Superior Court for a bond hearing Tuesday. Judge William A. Wood of Forsyth Superior Court set his bond at $3 million, and Sullivan is currently in the Forsyth County Jail. Secretary of State’s securities division, testified in court Tuesday that members of Grace Presbyterian Church on Carver School Road came to the Forsyth County…
Oct. 7– A federal judge has scolded a convicted stock swindler who complained that authorities should not be allowed to take $150 a month from his prison commissary account to repay thousands of retirees who lost $20 million in penny stock frauds he helped pull off. Brian Ferraioli, the disbarred stock broker from Long Island who complained, was one of about a…
Insurers and reinsurers, with their unique societal role as risk managers, risk carriers and investors, have not been immune from the growing awareness and concerns about climate change. Michael Dunckley, associate director, analytics, said,“ Although insurers currently account for a very small proportion of the total issuance of the ESG bond market, given the…
The U.S. Attorney for the Southern District of New York, Geoffrey S. Berman, issued the following news release:. Geoffrey S. Berman, the United States Attorney for the Southern District of New York, announced that JOHN GERACI pled guilty in Manhattan federal court today to conspiring to commit securities and wire fraud. GERACI eventually liquidated the Meridian…
By beginning to invest in a Roth IRA at an early age, today’s teens can become tomorrow’s millionaires.
The Retirement Savings Selector Tool for Small Businesses was created in conjunction with Millennium Trust’s Workplace Savings Solutions to help small businesses identify a retirement savings option that may be a fit for their business by answering a few quick and easy questions. “The Retirement Savings Selector Tool for Small Businesses is a completely…
It’s only too easy to overlook several expenses when you sit down to add up what you need for a happy, healthy retirement.
–Triad Advisors, LLC, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. and a leading independent advisory and brokerage firm supporting independent hybrid financial advisory practices and registered investment advisory firms, announced today that it has successfully recruited Mooney Lyons Financial Advisors, a hybrid RIA…
The latest wave of selling came after a report showed hiring by U.S. companies slowed more than economists expected last month, with mining and manufacturing particularly weak. It added to worries that shook markets a day earlier, when a reading on U.S. manufacturing showed the sharpest contraction in a decade.
Millennials value financial openness in their relationships, with 31 percent saying they would consider breaking up with their partner if they discovered hidden debt or a bad credit score, according to the fifth annual Love and Money Survey by TD Bank.
Retirement planning isn’t just about saving enough money to last a lifetime. It’s about keeping as much of your nest egg as possible through prudent tax-management strategies.
–AMC BEGIN ABOUT–> Confidence Rises in September Despite Rising Global Political Uncertainty, Impeachment Talk in the U.S. and Concerns Over Climate Change. CHICAGO, IL, USA, October 1, 2019/ EINPresswire.com/– Investors remained focused on continued strong market momentum in September rather than pulling back in response to rising political and economic…
The U.S. Attorney for the Southern District of New York, Geoffrey S. Berman, issued the following news release:. Geoffrey S. Berman, the United States Attorney for the Southern District of New York, and Peter C. Fitzhugh, the Special Agent in Charge of the New York Field Office of Homeland Security Investigations, announced today the unsealing of an Indictment…
“Our new survey findings support the notion that money issues can cause relationship issues,” Hanna Horvath, data analyst and personal finance expert at Policygenius, said. Half of people don’t know their partner’s credit score. One in ten people have a secret credit card One in ten people have hidden a purchase from their partner in the last 6 months 25% of people…
Americans’ confidence in their ability to pay their credit card bills continued to decline in September, according to a new report from CompareCards.com, as fewer cardholders manage to pay their statement balances in full at the end of the month.
A new study finds that more and more seniors are delaying retirement to work longer. The labor force participation rate for the 65-74 age group alone has increased by nine percentage points, from 18% to 27%, in the past 20 years. For the 75+ group, the labor force participation rate nearly doubled over the same time period.
The Trump administration’s trade war with China is largely to blame for stocks’ screeching halt on Wall Street since April, analysts and economists say. The Trump trade war’s drag on Wall Street is a dramatic turnaround for investors, who survived a whip-saw winter that saw the S&P plunge late last year only to recover at the start of this year.
When it comes to planning for retirement, too many people– and financial professionals– are stuck looking backward, said Scott Hall, regional sales director at OneAmerica ®. In a recent“ Ditch the Rear-View Mirror” presentation at NAIFA Performance+ Purpose in Orlando, Florida, Hall encouraged financial professionals to consider how to protect their clients’…
As older Americans enjoy the fruits of their labor in their golden years, cognitive decline, fraudsters and even friends and family can put their financial security at risk. Other key findings from the AIG Plan for 100 Elder Financial Abuse Survey include:. “We all want to age with grace, maintain independence for as long as possible, and have the freedom to manage…
“During the first year or two of retirement, it’s a big transition taxwise,” said George W. Smith, a certified public accountant. And SSA-1099s for Social Security benefits. ” This summer, the Internal Revenue Service launched its much-anticipated Tax Withholding Estimator.
Sep. 25– Lori Ann Lewis was doing charity work in downtown Orlando when, by chance, she ran into someone who worked in the gold business. It was in the lobby of the Seacoast Bank skyscraper in 2016, just before the presidential election, when she met Susan Kitzmiller, an employee at U.S. Coin Bullion, a precious metals investment firm. The owners of the company would…
The Securities and Exchange Commission was accused of failing its mission as “Wall Street’s cop” in the first appearance of the full SEC board in Congress since 2007.
A new study finds the majority of Americans are stressed about their financial situations, with 3 out of 4 Americans wishing they could get a financial planning do-over. However, according to the survey by the National Association of Personal Financial Advisors, the outlook isn’t all grim.
