While the majority of Americans age 40 and over claim to have a well-defined retirement strategy, almost the same number would give themselves a‘ C’ grade or lower on their retirement savings, according to a new survey conducted by The Harris Poll on behalf of TD Ameritrade.
Read moreThree key provisions of the SECURE Act will likely affect the way client’s handle their IRA. These provisions went into effect on Jan. 1 and include 1) eliminating the stretch provision on inherited IRAs, 2) increasing the RMD age from 70½ to 72, and 3) allowing individuals older than 70½ to make contributions to traditional IRAs.
The framework of client trust, like a building, requires a strong foundation. In this case, that foundation is questions. Every question causes an emotional reaction. To remove a negative emotional reaction, preface questioning by explaining the purpose for the questions.
The independent broker-dealer space is growing at a healthy pace, but just not as healthy as registered investment advisors are, one leading analyst said. That is one trend line not likely to change anytime soon, said Chip Roame, managing partner of Tiburon Strategic Advisors.
A survey by the Insured Retirement Institute (IRI) finds that millennials’ expectations are not well aligned with the retirement planning steps they have taken thus far. Although nearly eight in ten millennials say that they have saved some money for retirement, nearly half – 46 percent – have saved less than $10,000.
Advisors want to have the freedom and flexibility to provide the best possible client experience as true fiduciaries and differentiate themselves in order to compete for more wallet share. With overall wealth increasing in the U.S., there will be continued demand for the services that independent advisors deliver.
The National Financial Educators Council conducted a survey with a single question: “When you have a financial question, who do you turn to for trusted financial guidance?” The most popular answer to the question depended on the age of the respondent.
Jan. 15– Congress has passed a budget bill containing the SECURE Act– otherwise known as “Securing Every Community for Retirement Enhancement Act.” After being signed by the president, the SECURE Act will affect many families' personal financial and retirement planning. Most provisions in the law took effect Jan. 1.
Two clients’ true stories during the last bear market reveal the pitfalls and opportunities that come with investing in uncertain times. Do you see your clients in this tale?
–By the end of 2019, the venture industry deployed $136.5 billion in US-based companies, surpassing the $130 billion- mark for the second consecutive year, according to the PitchBook-NVCA Venture Monitor, the authoritative quarterly report on venture capital activity in the entrepreneurial ecosystem jointly produced by PitchBook and the National…
A $62.47 tab gets a $12 tip. If the bill is more than $100, double the first two digits. Many are winging it through their financial lives without confidence in their ability to afford retirement, an emergency expense or even daily living costs, according to a survey by The Associated Press-NORC Center for Public Affairs Research.
According to financial services firm Edward Jones’ survey, Relationship with Money, while 81% of Americans say they feel in control over their current financial situation, they admit a mix of emotions when it comes to their money. When asked what they would do if someone gave them $1,000, 72% of respondents said they would allocate it to short-term goals.
A former Pennsylvania stockbroker who was kicked out of the securities industry and ordered to pay millions of dollars in damages to customers he allegedly fleeced faces trial Monday on an unusual set of criminal fraud charges. Anthony Diaz was fired by five brokerages and resigned from another amid persistent customer complaints and rules infractions.
—Stocks are off to a mixed start on Wall Street after the government reported that U.S. employers eased back on hiring last month. Overseas markets were modestly higher as worries recede over the U.S.- Iranian conflict. Major U.S. indexes remained near the record highs they set a day earlier.
The passage of the SECURE Act opens new possibilities for your clients and your practice. Here is how to open the discussion with clients.
–LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that Envestnet MoneyGuide is the newest technology solution integrated with ClientWorks Connected. Advisors who choose to use the leading financial planning software will now benefit from an enhanced experience, with data flowing seamlessly…
O.N. Investment Management Co. launched the Envestnet Insurance Exchange for its advisors. The insurance network provides access to reputable insurance carriers and their annuity products alongside traditional managed account investments on the Envestnet platform.
Barnes& Noble Education, Inc., a leading solutions provider for the education industry, today announced that its Board of Directors has retained Morgan Stanley& Co. to serve as its financial advisor in connection with its previously announced review of strategic opportunities. The Board’ s review is designed to accelerate the execution of customer-focused…
Former NBA all-star Michael Redd, best known for his tenure as shooting guard with the Milwaukee Bucks and role in the 2008 US Men's Olympic team, is joining the ADvantage Sports Tech Fund as a venture partner. ADvantage is a global sports tech fund backed by leAD Sports and OurCrowd to invest in early stage technology companies aimed at shaping the future of…
More than two-thirds of independent RIAs participating in the TD Ameritrade Institutional 2020 RIA Sentiment Survey are optimistic about the U.S. economy, and more than half expect stock prices to continue to increase. Even as RIAs see a relatively smooth road ahead in 2020, they are watching headlines on the U.S. economy, corporate earnings and trade for…
–According to the new Financial Wellness Survey from KeyBank, 75% of consumers consider themselves financially savvy, with 41% stating they're savvier than most or consider themselves an expert when it comes to personal finance. Despite this, more than half admit they have made a financial “faux pas”— referring to a money “false step” or error— and impulse buying…
The yield curve was relatively flat at the end of 2018 and then inverted in 2019, with the interest rates for the 10- year Treasury lower than the shorter-term maturities such as the 3- month Treasury. An inverted yield curve often proceeds a recession as the Federal Reserve is pushing the target federal funds rate higher.
On Dec. 20, the SECURE Act became law. We discussed how this bill passed in the House of Representatives earlier this year with 400- plus votes for and only three against. Congress realized that many Americans were not prepared for retirement.
The bull market went into overdrive in 2019. The S&P 500 rushed ahead by 29%- its best showing in six years. But as much as investors will always welcome such returns, it does make it tougher to be an income investor.
Three key provisions of the SECURE Act will likely affect the way client’s handle their IRA. These provisions went into effect on Jan. 1 and include 1) eliminating the stretch provision on inherited IRAs, 2) increasing the RMD age from 70½ to 72, and 3) allowing individuals older than 70½ to make contributions to traditional IRAs.
CHICAGO, IL, USA, January 2, 2020/ EINPresswire.com/– U.S. markets appeared to shrug off news of the impeachment of U.S. President Donald Trump, as equities continued their record-breaking bull run in December, fueled by optimism over a strong jobs report and the signing of an initial trade agreement between the United States and China. The Spectrem Affluent…
The way companies are doing business is changing rapidly. It’s no longer “business as usual.” We not only need to navigate the tsunami of change for our own businesses; we also must lead our clients through the same tsunami. Here are five simple ways to integrate lifetime learning into any busy schedule.
–Mariner Wealth Advisors, the wealth advisory firm nationally ranked by Barron’ s as a top four RIA Firm the last four years 1, today announced it has entered into binding agreements to acquire the tax practices of David G. Miller& Associates and G.M. Bremer& Associates.. President Geoffrey M. Bremer and his team of six associates will be integrated into the Mariner…
The Nasdaq composite climbed above 9,000 points for the first time as Apple led technology stocks higher.
Wells Fargo& Co. is entering 2020 with considerable work left to do in rehabilitating its reputation with federal lawmakers and consumers. Wells Fargo ranked 96th, followed by Sears at 97th, Trump Organization at 98th, Philip Morris USA at 99th and the U.S. government at 100th. The poll comment included a brief synopsis of the fraudulent customer account scandal…
Even the most diligent pre-retiree planner can get tripped up by unpleasant financial surprises. Follow these tips.
Tiburon counts 335,000 financial advisors — a stagnant figure over the past 15 years — controlling nearly $25 trillion in assets. While the number of advisors remains the same, the assets they control has more than doubled since 2010. In the future, the independent channels should continue to grow, Tiburon predicted.
The framework of client trust, like a building, requires a strong foundation. In this case, that foundation is questions. Every question causes an emotional reaction. To remove a negative emotional reaction, preface questioning by explaining the purpose for the questions.
In May, the House of Representatives passed the bill, officially known as the Setting Every Community Up for Retirement Enhancement Act of 2019, by a remarkable 417-3 bipartisan majority. While that kind of political momentum is difficult to oppose, the bill's progress had been stalled by a small group in the Senate. Anxious to avoid a government shutdown, both…
Congress passed an important retirement-savings law called Setting Every Community Up for Retirement Enhancement, or the SECURE Act of 2019. For example, the bill raises the age for required minimum distributions (RMDs) from 70 1/2 to 72 years old. As long as you’re working, you can still contribute to your IRA after age 70 1/2. Previously, you couldn’t.
Millionaires are the most cautious they've been on the direction of the economy since the years leading up to the global financial crisis. Investor sentiment on the economy for the next 12 months dropped 14 points from a year ago to -7, its lowest level since 2006, according to Fidelity Investments' annual Millionaire Outlook Confidence Index.
The Financial Industry Regulatory Authority, commonly referred to as ” FINRA,” is a private organization authorized to regulate all U.S. broker-dealers. In 2003, FINRA established the FINRA Investor Education Foundation with a mission to “empower underserved Americans with the knowledge, skills and tools to make sound financial decisions throughout life.”
Millennials’ confidence in their ability to pay off their debts (mortgage, car loans, credit cards, etc.) hit a low in 2019, with only 77% of Millennials feeling somewhat to very confident, versus 83% of Millennials surveyed in 2017, and 86% in 2015.
Today’s workers have saved $50,000 in all household retirement accounts, but savings vary dramatically across demographic segments, according to A Compendium of Findings About U.S. Workers, a new report released today by nonprofit Transamerica Center for Retirement Studies.
Many Americans are leaving 2019 in debt. In fact, almost one in four people say “credit card debt” is their biggest financial regret of the past decade, according to a survey from Policygenius. An even bigger percentage (32.4%) of Americans say “paying down debt” is their biggest financial goal for next year.
Working with an advisor appears to help Americans understand the importance that fixed income plays in retirement planning. For example, when asked at what point in time the average investor should consider adding fixed income to their investment portfolios, nearly two-thirds (64%) of those surveyed said “before retiring.”
CONTRIBUTED BY NATHANAEL R. HUGHES, MBA. With the hustle and bustle of the holiday season, it's easy to put your financial planning on the back burner. It's also easy for the treadmill of life to sweep us up through work, caring for children, home repairs, taking care of pets, etc. it can be hard to find time for anything else.
The independent broker-dealer space is growing at a healthy pace, but just not as healthy as registered investment advisors are, one leading analyst said. That is one trend line not likely to change anytime soon, said Chip Roame, managing partner of Tiburon Strategic Advisors.
Nearly nine out of ten Americans (89%) admit that talk of charitable giving will likely be missing at this year’s…
But worries about a potential recession have faded since midyear thanks to more positive reports on the economy and a supportive interest rate policy from the Federal Reserve. Investors have focused mainly on larger stocks, especially through futures, while small-cap stocks remain below their long-term average values and still have room to grow, according…
Securities America, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc., today announced that Goldstein& Associates, an independent wealth management firm based in Wisconsin, has joined its platform through one of Securities America’ s corporate RIAs, Arbor Point Advisors. Mr. Goldstein heads the firm’ s Middleton, Wisconsin headquarters,…
Pennsylvania Treasurer Joe Torsella last month told the world he’ d pulled the state’ s money– or at least the slice he oversees–“ out of all so-called hedge-fund investments, resulting in $14 million in annual fee saving.”. Through a company called Aksia, a“ fund-of-funds “manager hired under Torsella’ s predecessor Rob McCord, Pennsylvania employed more than 50…
The Federal Reserve left its benchmark interest rate alone Wednesday and signaled that it expects to keep low rates unchanged through next year. It reflects its view that the U.S. economy has so far withstood the U.S.- China trade war and a global slump and remains generally healthy.
Released in late November, the Pete Buttigieg retirement plan focuses on ensuring “all Americans experience dignity and security in retirement.” Buttigieg’s plan identifies the three biggest short comings of retirement savings in America.
With the start of a new decade just around the corner, Americans are feeling optimistic about their current and future financial situation, but reducing the burden of personal debt will be a priority for many who acknowledge they bit off more than they could chew in 2019, according to a Fidelity Investments’ survey.
With ongoing trade tensions, geopolitical uncertainty, and unpredictable policymaking becoming the new normal, Vanguard expects U.S. growth to decelerate below trend to around 1% in 2020, with the risk of recession still elevated.
Maxine Waters, D- California, chairwoman of the House Financial Services Committee, issued the following news release:. In May, Congresswoman Maxine Waters, Chairwoman of the House Financial Services Committee, convened a full Committee markup of H.R. 2534 and six other bills. H.R. 2534 is supported by institutional investors, state securities regulators,…
–LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced the launch of a no-transaction-fee, exchange-traded fund network where advisors can trade ETFs for free in advisory accounts. By partnering with leading ETF providers State Street Global Advisors, Invesco and WisdomTree, LPL advisors have access…
Review your investment portfolio before the end of the year to see what Long Term Capital Gain Dividend distributions have already hit the account and check to see if there will be any others to come before year end. Careful tax planning like this can save your clients a bundle.
The proposal will impose a uniform fiduciary conduct standard on broker-dealers, agents, investment advisors and investment advisor representatives providing financial advice to any clients in Massachusetts. A public hearing will be held on the proposal next month, officials said Monday, with adoption to follow as soon as Feb. 1.
-John Hancock Retirement and John Hancock Investment Management, companies of Manulife Investment Management, today announced the launch of John Hancock Stable Value Guaranteed Income Fund, a principal stable value option within John Hancock's lineup of retirement investments. “John Hancock Stable Value Guaranteed Income Fund provides an option to…
–Hub International Limited, a leading global insurance brokerage, announced today that it has acquired SilverStone Group, one of the largest insurance brokerages in the U.S. and the largest brokerage in Nebraska. With SilverStone, the company creates a new regional hub to be called Hub Great Plains, which will include and cover existing operations in Omaha,…
Two U.S. presidents have been formally impeached by Congress: Andrew Johnson and Bill Clinton. In addition, two other U.S. presidents have faced formal impeachment inquiries: Richard Nixon and Donald Trump. So far, no U.S. president has been removed from office through the full impeachment process.
The addition of AFA expands Mercer Advisors' presence in Florida to three offices. The AFA acquisition brings Mercer Advisors' total offices to 46 and increases Mercer Advisors' total AUM to nearly $17.5 billion. Mari Adam and her team's focus on delivering comprehensive financial planning and wealth management to their high net worth clientele fits…
With all three major stock market indices reaching record highs in November, wealthy investors moved assets back into stocks, ignoring the ongoing barrage of political and geopolitical risks facing the U.S., according to the December edition of Spectrem’s High Net Worth Insights Journal.
E* TRADE Financial Corporation today announced results from its most recent wave of StreetWise, the E* TRADE quarterly tracking study of experienced investors. “Gen X are major contributors to the economy, making up about one third of today’ s workforce, so the financial well-being of this population is critical,” said Mike Loewengart, VP of Investment Strategy at E*…
To safely make it through potentially decades of retirement, women need to go the extra mile with their preparations.
While 93% of Americans believe it is important to set a plan for their family and their own financial future, 47% of them – nearly half of the entire country – struggle to discuss finances with their loved ones. A new Lincoln Financial Group campaign aims to change that.
