–Regimen Wealth, the wealth management firm founded by Ian Weinstein proudly announces that they are now an independent Registered Investment Advisor. “The financial services industry has evolved considerably in the last 20 years,” explained Ian Weinstein, Founder& CEO, Regimen Wealth. I’m never comfortable with a guess, “explains CEO Ian Weinstein.
Read moreThe Department of Labor is not making comments available on a pair of highly anticipated rules governing the financial services industry.
There’s a tax freight train coming your clients’ way – and their individual retirement accounts and 401(k) accounts are on the tracks, an advisor and author said.
How do we stay motivated to keep our activity up when so many of us are stuck at home, having switched from our well-known office habits to a short commute to another room in our house? Let’s start by reminding ourselves why we are in this business and the value we bring.
The ESG proposal will trigger unintended consequences, expose plan fiduciaries to additional regulatory scrutiny, and heighten litigation risks related to the selection of all plan investment options, the Insured Retirement Institute said in a comment letter.
The Department of Labor is not making comments available on a pair of highly anticipated rules governing the financial services industry.
Wall Street rallied on Wednesday, and the S&P 500 climbed 1.2% for its best day in two weeks after the Federal Reserve kept the accelerator floored on its support for the economy. U.S. stocks began rising as soon as trading opened, and momentum picked up after the Fed said in the afternoon that it will keep interest rates at their record low as the economy struggles…
Tokyo's Nikkei 225 index lost 0.9% after Fitch Ratings downgraded its outlook for Japan to“ negative” from“ stable.”. Market players are awaiting the outcome of a U.S. Federal Reserve policy meeting that began Tuesday. The Nikkei 225 gave up 218.83 points to 22,438.55 while South Korea's Kospi added 0.3% to 2,263.35.
f you're retired and recently saw the value of your invested retirement funds erode, you're probably facing a bad choice: Cut spending until the market recovers, or withdraw your usual amount. The catch on making your usual draw is that you need to sell off more of your invested funds to raise the same amount of money. Even Congress recognizes the danger of selling…
In the wake of COVID-19, some companies have announced plans to allow employees to work from home permanently, freeing people to live anywhere. What does this mean for Mendocino County? Maybe nothing or maybe we'll have an influx of city dwellers ready to escape the rat race.
NEW YORK, LONDON and TORONTO, July 28, 2020/ PRNewswire/- Financial advisors who are not fully embracing digital marketing in 2020 are at risk of losing clients and unable to take advantage of the surge in investors looking for advice during the ongoing COVID-19 pandemic and massive market volatility, according to new findings of the “AdvisorStream: State of…
Lots of people have more time than money nowadays. If you're one– maybe you're taking a staycation or you freed up commuting hours by working from home– optimize that extra time by making smart financial moves that won't cost a dime. “If you have time but no money, it's time to become the best version of yourself,” says Ryan J. Marshall, a financial adviser in Wyckoff, New…
A new Department of Labor rule might create an inhospitable environment for ESG funds.
—Stocks are rising on Wall Street Monday, while gold rushes to a record at the start of a week packed with potentially market-moving events. Treasury yields also remain close to their lowest levels in months. At the head of the pack is a two-day meeting for the Federal Reserve on interest rates that begins Tuesday.
Price gouging is an unfortunate reality during a crisis. The cost of household items that most people don't think twice about, including toilet paper, masks, and gloves have become hot commodities. With the pandemic came profiteers who saw no need to let a good crisis go to waste.
MITO, Japan— Worsening China- U.S. friction, worries over aid to Americans and U.S. businesses and a stumble on Wall Street combined to push shares in Asia lower on Friday. As expected, China announced the closure of the U.S. consulate in the western city of Chengdu. “Alongside the eviction of the Houston Chinese Consulate, the risk of the U.S.- China conflict escalating…
The current economic downtown has been odd in so many ways. Why shouldn't it expose some economic myths and misconceptions as unreliable, if not outright untrue? When it comes to understanding the relationships involving home prices, bank deposits, interest rates and unemployment, many disconnects arise.
To provide registered investment advisers with the best possible experience in helping clients achieve better retirement outcomes, Pacific Life today announced the integration of its commission-free variable annuity and fixed indexed annuity with the Orion Advisor Solutions platform. Orion is a premier provider of the tech-enabled fiduciary…
Social media has grown into a crucial platform that allows financial professionals to deliver insurance product information, provide timely product updates and, more importantly, notify clients that you are open for business.
Americans are tired of the so-called generational wars that describe one generation as doing better or worse than another when it comes to financial planning and saving for retirement, a new survey from Empower Retirement says. A survey 1 by Empower Institute, the research arm of Empower Retirement, shows:. The survey results, published in a new paper“ It’ s Not…
You have an opportunity to extend your brand. This means you will need to introduce your product or service as well as identify your target market. Here are some crucial marketing tips to help build your brand and grow potential sales opportunities.
Stock indexes are moving mostly higher in choppy trading on Wall Street Monday afternoon as the market cools off after a three-week winning streak. Noble Energy climbed 5.6% after the company agreed to be acquired by Chevron for $5 billion. Treasury yields were also mixed, reflecting caution among investors.
The coronavirus pandemic has certainly caused havoc and concern for many people, particularly in regard to their health and their finances– and these two areas intersect in estate planning. So, if you haven't drawn up your estate plans yet, or you think they may need to be revised, now may be a good time to act. I want to write this with some steps you can take.
Insurance agencies remained hot properties in 2019, with another record year of merger-and-acquisition activity, but activity appears to be slowing due to COVID-19. OPTIS Partners released first-half M&S data this week showing a slowdown on insurance agency activity.
The one-time payments were approved by Congress as part of an emergency relief package intended to bolster the economy as thousands lost their jobs at the beginning of the coronavirus pandemic. President Donald Trump has repeatedly said he supports another round of payments, and now it appears we’ re closer than ever to seeing Congress pass what it says would…
Jul. 16– Behold the power of the lowest home loan rates ever, a milestone hit this week in a descent that hasn't let up since the coronavirus outbreak hit the U.S.. The average 30- year, fixed-rate mortgage dipped to 2.98%, with settlement costs– fees and points– of 0.7, Freddie Mac reported Thursday. “We did a cash-out refinance, gave them $50,000 cash back for a remodel, put…
MINNEAPOLIS – July 15, 2020 – In an effort to help its employees save for their own retirement, Allianz Life…
The recession marks the first big test of the banking industry’s resilience since the last financial crisis, when banks took billions in taxpayer bailouts. This time, the industry says it is much stronger.
NEW YORK- Wall Street rebounded on Tuesday, and the S&P 500 more than made up all its losses from the day before, after stocks pinballed through another day of erratic trading. After the market closed, shares of Moderna jumped in after-hours trading after a COVID-19 vaccine it's developing with the National Institutes of Health revved up people's immune systems…
Wall Street got a painful reminder of the threat the coronavirus pandemic poses to the economy Monday, and a big early gain for stocks suddenly flipped to losses after California rolled back its reopening plans amid a spike in cases. The S&P 500 fell 0.9%, with all the losses accumulating in the last hour of trading, after California said it will extend closures of…
NEWARK, N.J., July 13, 2020 – The first months of the COVID-19 pandemic largely wiped out three years of financial gains…
Two-thirds (67%) of Americans say that the pandemic has been a wake-up call for them to reevaluate their finances, according to a new study by Life Happens, a nonprofit dedicated to educating consumers about the importance of life insurance and other related products for sound financial planning.
E* TRADE Financial Corporation today announced results from the most recent wave of StreetWise, the E* TRADE quarterly tracking study of experienced investors. Results indicate investors are bullish on the market but have a wary economic outlook:. “It’ s encouraging to see bullish sentiment come charging back amid Nasdaq highs and consecutive up days in the…
New data shows that the 30-year fixed-rate mortgage averaged 3.03 percent, the lowest rate in the Freddie Mac survey’s history dating back to 1971. A year ago at this time, the 15-year FRM averaged 3.22 percent.
Wall Street's rally got back on track Wednesday after more gains for big technology stocks helped pull the S&P 500 to its sixth gain in seven days. Treasury yields and oil prices also ticked higher, but caution continued to hang over markets as gold touched its highest price since 2011.. “The Nasdaq is screaming warning signs that there's rampant speculation,”…
While businesses of all sizes experienced impacts from the global pandemic, many have reportedly pivoted enough in their operations to sustain their business through the crisis so far, according to the seventh edition of the Principal Financial Well-Being Index.
This merger positions the firm as a leading provider of advisory services to its targeted niche of retirement advisors. The combined company will retain the Brookstone name, executives said in a news release, and will reflect the best that each firm has to offer, including exclusive and expansive state-of-the-art technologies.
Remote work has been a challenge for advisors trying to serve clients during the COVID-19 pandemic, a recent study revealed. More specifically, nine out of 10 advisors said that not being able to meet with clients in person has had the biggest impact to their business while social distancing measures are in effect.
Although all election years feel different, 2020 no doubt may be one of the most unique election years ever. We have a pandemic, a deep recession, extremely heightened partisanship, a mail-in ballot controversy, an unpredictable president, and the oldest presidential candidate ever.
Japan's benchmark Nikkei 225 dropped 0.6% to 22,577.65 and South Korea's Kospi lost early gains to fall 0.4% to 2,180.30. Government stimulus and hopes for an economic turnaround have kept investor sentiment upbeat, Prakash Sakpal and Nicholas Mapa, senior economists at ING, said in a report. “Investors continue to look past the sustained pickup in new…
Rutgers University will offer remote instruction and limited in-person classes this fall. The president of operations for the Washington Nationals baseball team said that without accurate, fast testing, the team's 2020 season is at risk. Pennsylvania has paid out almost $24 billion in unemployment benefits since the pandemic began.
At least for individuals who don’t operate a business, direct financial assistance has come in two forms that are fairly easy to understand: the $1,200 economic impact payments that about 160 million people have so far received, and the enhanced jobless benefits received by tens of millions.
“Nobody has any experience with this,” said UMass Amherst economics professor emeritus David Kotz. That has day traders using apps like Robinhood to help fuel all this volatility, said Dominick Miserandino, CEO of Inquisitr.com Media. Warren Buffett, the anti-panic buyer, told Berkshire Hathaway shareholders in May: “Never bet against America.
People who aren’t yet retired are worried about running out of money after they do retire. But they aren’t communicating that fear to their financial advisors, an Allianz Life study revealed.
How are you adapting your business and systems to deliver an extraordinary client experience in the new business reality? Clients are scared and looking for a lot from their financial advisor.
Wall Street capped its best quarter since 1998 Tuesday with more gains, a fitting end to a stunning three months for investors as the market screamed back toward its record heights after a torrid plunge. The quarter's gains were ignited by promises of massive amounts of aid from the Federal Reserve and Capitol Hill. Low interest rates generally push investors…
The International Monetary Fund on Wednesday forecast a deeper recession for this year and a slower and uncertain recovery for next year after the coronavirus, or Covid-19, pandemic plunged the global economy into a crisis like no other. The global economy is set to shrink 4.9 percent this year, which is worse than the 3 percent contraction predicted in April,…
In its March quarterly forecast, the UCLA Anderson Forecast revised its outlook for the U.S. economy downward because of the expected impact of COVID-19, which was then still being referred to as an epidemic. Its new forecast predicts that the economy will not rebound until 2023.
There's a saying on Wall Street: Don't confuse brains with a bull market. The S&P 500' s longest bull market in history began in March 2009 and ended abruptly in March 2020, clobbered by coronavirus fears. Indeed, from March 23 to June 19, the S&P 500 rose a remarkable 40%.
COVID-19 has provided an unexpected boon to millennial and Generation Z finances, according to a national survey of more than 2,000 U.S adults. The survey found that two out of three millennials say the pandemic had a positive effect on their finances, with 69% spending less money overall.
The reopening of businesses shut due to the coronavirus pandemic is fueling optimism on Wall Street that the U.S. economy is on the path to recovery. For an up-to-the-minute read on consumer behavior, Wall Street is monitoring the number of people moving through airport security checkpoints, restaurants, etc.
The Dow Jones closed with losses for the first time in four sessions on Wednesday amid concerns about the economic impact of the COVID-19 pandemic. United Airlines stock dropped 2.39 percent, Delta fell 1.92 percent and American Airlines declined 0.29 percent, while Norwegian Cruise Line stock dipped 8.40 percent, Royal Caribbean slid 7.09 percent and…
NEW YORK- Stocks rose again Tuesday, part of a strong and worldwide rally for markets, after a big rebound in buying at U.S. stores and online raised hopes that the economy can escape its recession relatively quickly. Continuing, immense support from the Federal Reserve is also calming markets, and its chair said Tuesday that the central bank will continue to use…
This according to the AICPAs Personal Financial Planning Trends Survey, conducted May 5 th through May 26 th, 2020.. “CPA financial planners work with their clients to develop plans that fit their personal situation and manage them through good and bad economies,” said Dave Stolz, CPA/PFS, Chair of the AICPA Personal Financial Specialist Credential Committee.“ As…
—Asian shares rose Tuesday, cheered by fresh moves by the U.S. Federal Reserve to support markets battered by the coronavirus pandemic. Japan's benchmark Nikkei 225 surged 4.9% to finish at 22,582.21. Global equity markets are recovering quickly,” after the Fed announcement, Stephen Innes, chief global markets strategist at AxiCorp, said in a report.
Jun. 15– Federal aid programs appear to be keeping a lid on statewide bankruptcies despite the pandemic, but one of the state's top economists says that could change after the end of this month when the Small Business Administration's Paycheck Protection Program ends. Hawaii bankruptcies in June fell 22.2% to 112 from the same time in 2019 and have now been down…
Even with signs of a market recovery, financial professionals expected the stock market to escape pandemic driven volatility relatively unscathed, according to findings of a survey published today by Natixis Investment Managers. Between March 16 and April 24, 2020, Natixis surveyed 2,700 financial professionals in 16 countries, including a pool of 300…
The disruptions keep piling up. Economic hardships have worsened for many Americans in recent years. Alexandrea Hammersley, 21, is a dancer and a pragmatist.
A spring survey released by the National Endowment for Financial Education found that 88% of Americans said the pandemic is causing stress on their personal finances. Chief among those stressors was not having enough saved for emergencies. A Federal Reserve report found that 4 in 10 adults would have difficulty covering a $400 unexpected expense.
The consensus economic forecast was that the U.S. lost another 7.5 million jobs in May. Undeterred by the failure of experts to accurately guess whether employment was increasing or in continued decline, Wall Street responded with delight, pushing stock prices to their highest levels since January. Retired Janus Capital CEO Gary Black expressed the bullish…
Asian shares were moderately lower Friday after an overnight rout on Wall Street as investors were spooked by reports of rising coronavirus cases in the U.S.. Japan's benchmark Nikkei 225 plunged on the open but ended down only 0.8%, at 22,305.48. Losses were milder in Asia than in the U.S. partly because markets in the region have not seen massive gains in recent…
Through a barrage of negative news, intensified fears and an uncertain future, the COVID-19 pandemic has heightened people’s emotions. This can often affect the personal side of financial planning and overshadow the technical perspective.
The COVID-19 pandemic has exacerbated the already serious retirement savings gap. With so many families entering retirement with little money saved, reliance on Social Security is at an all-time high, even as the Social Security trust fund is being depleted.
