Hub International Acquires Assets Of Inter-Mountain Retirement Partners

Advisors say being easily influenced by recent news, playing it overly safe and seeking information that reinforces established perceptions are the most common behavioral biases that impact their clients’ investing decisions.

No more are actively managed funds the kings of Wall Street. Index funds usurped actively managed funds for the first time this week, confirming a major shift in the way people invest. As of Aug. 31, index funds held $4.27 trillion in assets, compared to $4.25 trillion currently in active funds, Morningstar research found.

According to the Wells Fargo/ Gallup Investor and Retirement Optimism Index survey, roughly half of U.S. investors, 53%, report they have provided financial assistance, personal assistance or both to adult children or extended family members— not including school tuition. Mary Sumners, regional president of Wells Fargo Advisors’ Northern Region, said,“ It seems…

Based in Pearl River, New York, led by Barbara Delaney, StoneStreet is an independent and nationally recognized firm providing retirement plan consulting services to defined benefit, defined contribution and non-qualified plans. Ms. Delaney has been recognized as 2018 and 2019 Barron’ s Top Institutional Consultants and 2019 Financial Times Top 401…

–Mercer Advisors, a national Registered Investment Adviser with Assets Under Management exceeding $16.5 billion, announced today a recapitalization whereby Oak Hill Capital will acquire an equity stake in the company from current private equity owners Genstar Capital and Lovell Minnick Partners. Mercer Advisors is one of the largest independent wealth…

The U.S. economy has experienced 10 recessions since 1950, according to the National Bureau of Economic Research. On average, the market declines 5.3% during an economic recession. The worst drop totaled a loss of -36.4% and the stock market’s best gain totaled +16.6%.

–Hub International Limited, a leading global insurance brokerage and financial services firm, announced today that it has acquired the assets of Wash Financial, L.L.C., d/b/a Washington Financial Group. Terms of the transaction were not disclosed. Headquartered in McLean, Virginia, led by CEO Joe DeNoyior and President Jeff Hamblen, WFG is a nationally…

Plaintiffs claim that the SEC failed to act on a 2010 Dodd-Frank directive that required it to write rules establishing a fiduciary standard for broker-dealers to replace the suitability standard. The states argue that “Overall, the Final Rule’s best interest obligations fall short of the standard of conduct contemplated by (the) Dodd-Frank Act.”

–A new survey conducted by eToro, a global trading platform with 11 million registered users, found that more than two-thirds of US investors fear a recession is looming. Survey respondents cited the ongoing trade conflict between the United States and China— as well as challenges with Mexico— as the most prevalent geopolitical factors that will impact their…

Money and finances cause young adults a lot of stress, a survey revealed.

According to a 2019 study conducted by The Penn Mutual Life Insurance Company, millennials— more so than earlier generations— are placing a greater emphasis on planning lifestyle-oriented details when it comes to starting or expanding their family.

Overall, consumers own about $15 trillion in home equity and another $13 trillion in small-business valuation, Tiburon Strategic Advisors found. Much of that is owned by baby boomers, or near boomers, and they will use that value to pay for their retirement.

According to the Wells Fargo/ Gallup Investor Optimism Index, U.S. investor optimism fell to its lowest point since the fourth quarter of 2016 as investor confidence weakened in the 12-month outlook for the stock market and U.S. employment.

A higher percentage of Gen Xers are looking more like millennials than baby boomers as far as their retirement confidence is concerned, according to a study by the Employee Benefit Research Institute. This is troublesome as the oldest members of Gen X are getting very close to retirement age.

Only 27% of affluent small-business owners have a formal business succession plan, LIMRA reports. And 70% of family-owned businesses fail to transition to the second generation, the American Bar Association says. As a trusted advisor, you can help clients prepare a plan of succession.

More and more financial advisors are considering a breakaway to start their own firms. However, transitioning to independence can bring about uncertainties regarding administrative tasks and costs that were previously handled by their brokerage or wirehouse.

Is 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?

The municipal bond market is booming, thanks to a growing economy and Trump-era changes in tax law. However, some financial analysts still warn against investors buying bonds from rural municipalities. The Tax Cuts and Jobs Act capped the deduction for state and local tax payments at $10,000 per household, which is driving wealthy investors to buy.

Strategic Wealth Partners Group, LLC, an independent wealth management firm based in both the Chicago and Milwaukee areas, today announced the addition of Kirk Hackbarth, CFP ®, CPA/PFS, Andrew Cohn, AIF ® and Joseph Thompson to its wealth management team. Hackbarth and Thompson join William Perry and Kathleen Dougherty-Klein in the Milwaukee office of…

While millennials seem to be the generation most interested in applying their ideals on environmental, social and governance issues to their finances, Gen Xers and baby boomers are also expressing growing interest, according to the ESG Investor Sentiment Study* from Allianz Life Insurance Company of North America. The study found that although millennials…

First Republic Bank, a leading private bank and wealth management company, today announced that Kieran Lynch, Jack Inserra, Craig Kaufman and Joel Kaufman have joined First Republic Investment Management. “Kieran Lynch, Jack Inserra, Craig Kaufman and Joel Kaufman are a highly experienced team who further expand our wealth management capabilities in the New…

The realities of caregiving are hitting home for Americans, as a majority of baby boomers who expect to be caregivers (92%) are willing to make lifestyle sacrifices to provide care to a family member or loved one.

A new LIMRA Secure Retirement Institute study finds only 13% of American adults feel very knowledgeable about financial products and investments. While more than half of consumers cite their family as the top source of financial information, 58% said they wished their families taught them more about investments and other financial topics.

The most surprising costs? Books and supplies, followed by tuition and fees, then room and board, according to a survey.

–American parents are feeling the weight of familial financial obligations. In fact, 42% of parents say they were not financially prepared to have a child, according to a new white paper from Policygenius, the nation’s leading online insurance marketplace. “The reality is, it’s expensive to have a child, especially when you add that strain to the rest of your…

Forty percent of non-retired Americans say that “how much income they’ll have in retirement” is the most important question they face about retirement. And eight in ten (80%) non-retirees indicate they lack a specific financial plan that they follow. One-third are not preparing for retirement because they don’t have enough time.

New FA Insight benchmarking research from TD Ameritrade Institutional 1 finds the leadership of registered investment advisor firms is getting younger– passing the torch from the Baby Boomer to Gen X– and investing to sustain their firms’ strong performance well into the future. This press release features multimedia. “As the next generation of RIA leaders…

It was supposed to be an all-in, surefire thing back in May when the Setting Every Community Up For Retirement Enhancement Act passed the House of Representatives in an overwhelming 417-3 vote of support. Proponents of the bill had hoped for a quick passage in the Senate, but two months later, the proposed retirement legislation seems destined to hang in limbo for the remainder of the summer due to a Republican hold on the bill in the Senate and the budget agreement closing off additional measures.

SAN FRANCISCO& SAN ANTONIO—- The Charles Schwab Corporation announced today that it has entered into a definitive agreement to acquire assets of USAA’ s Investment Management Company, including brokerage and managed portfolio accounts for $1.8 B in cash. The companies have also agreed to enter into a long-term referral agreement, effective at closing of the…

The Employee Benefit Research Institute looked at spending patterns of older households and found that spending varies upon whether the households are singles or couples, or whether they are in retirement or currently working.

A new study finds that three-quarters of respondents started saving at age 35 or younger, including 95% of Millennials. Despite starting to save at a young age, 36% of Millennials expect to carry debt into retirement.

Pacific Funds’ fixed-income products recently surpassed the $4 billion milestone for assets under management. “Going over the $4 billion mark reflects the hard work of our team as well as the value we believe our funds provide investors,” said Dominic Nolan, senior managing director for Pacific Asset Management, which actively manages the six fixed-income…