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John Bogle Tributes Pour In From SEC, Retirees, And A Collegeville Pizza Parlor

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Tributes from around Philadelphia, and the country, have poured in for the late Vanguard founder John C. Bogle, who insisted everyone call him“ Jack.”. Here’ s a personal tribute: Around 2001 when I started covering mutual funds, Bogle took me to lunch at the Princeton Club in Manhattan to give me“ some tips.” That was outrageously humble of him, given that he’ d created the…

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White Glove Workshops, a digital marketing company specializing in planning, promoting and managing educational seminars for professionals in the finance, insurance, real estate and legal industries, has hired former National Planning Corporation CEO and president John C. Johnson.

While the SEC revises its rule-making package containing regulation best interest, Form CRS and title reform, several states are taking matters into their own hands, establishing a fiduciary standard in the hopes of better-protecting investors.

When it comes to figuring out retirement income and how to manage finances in the post-employment years, there is a big difference between pre-retirees and retirees. More than half – 56 percent – of pre-retirees said they frequently worried about their finances while only 36 percent of retirees said they did.

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Like the 1972 hit song by Paul and Linda McCartney and sung by Wings, most in commercial real estate spent last year worried about how rising interest rates were going to get “Hi, Hi, Hi.” Overall rates are up from last month and are currently in the 4.25 percent to 4.45 percent range for 5- and 10- year loans offered by life insurance companies, according to the John B….
President Donald Trump on the campaign trail in Hershey, Pa.

The government shutdown is moving into week five and the damage is beginning to show. The direct economic damage is estimated at around 0.50 percent so far, which is material in an economy expected to grow around 2.5 percent in the first quarter. Slower growth is an inevitable result of the slowdown.
A leading economist compares the U.S. economy to the 1976 movie "Rocky."

The U.S. economy remains healthy, and Vanguard is sticking with its prediction for only one more interest rate hike by the Federal Reserve in 2019, chief economist Joseph Davis said. Vanguard’s model predicts a less than 50 percent change of recession in 2019, he added.

–LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that CKW Wealth Management has joined LPL Financial’ s broker-dealer and corporate registered investment advisor platforms, aligning with LPL Financial enterprise firm Private Advisor Group. The firm is made up of financial advisors Natacha…

–Corporate Insight announced the winners of its annual Monitor Awards, recognizing digital innovation and best practices within the financial services and healthcare industries. “In 2018, we saw a host of exciting innovations in digital financial services and healthcare,” said Michael Ellison, president of Corporate Insight. Morgan made significant…

Bogle, a chipper and unpretentious man who invited everyone to call him“ Jack,” was founder and for many years chairman of the Vanguard Group, the Malvern-based mutual-fund company, where he pioneered low-cost, low-fee investing and mutual funds tied to stock-market indexes.

Jan. 16– The rollercoaster otherwise known as the stock market did not diverge from its usual operations in 2018, as investors saw an up-and-down year and likely expect the same in 2019.. The markets then had a post-Christmas rally, as the Dow saw its biggest one-day gain Dec. 26, with over 1,080 points; the S&P rose 4.9 percent; and the Nasdaq closed up at 5.8 percent.

This includes the PGA Championship, KPMG Women’s PGA Championship and KitchenAid Senior PGA Championship. VALIC representatives will be available to meet with PGA Members in the Member Business Center at next week’s 66 th PGA Merchandise Show in Orlando. “We are very pleased to have AIG as the Official Insurance Partner of the PGA of America and several of our…
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White Glove Workshops, a digital marketing company specializing in planning, promoting and managing educational seminars for professionals in the finance, insurance, real estate and legal industries, has hired former National Planning Corporation CEO and president John C. Johnson.

The bank, based in New York, said it had earnings of $1.64 per share. The U.S. bank posted revenue of $23.98 billion in the period. Three analysts surveyed by Zacks expected $17.48 billion.

Most financial to-do lists focus on what you need to get done by Dec. 31, but there’ s also a brief window early in the new year to save yourself some significant cash. If you live in a high-tax area, have a bunch of children or otherwise take a lot of deductions, you may face an unpleasant surprise on April 15. Some people“ are going to be in really sad shape,” said Cari Weston,…

The volatility experienced at the end of 2018 is something long forgotten by some investors. Volatility isn’t always a bad word, it really means a tendency or vulnerability to rapid change, often unpredictably, especially for the worse. For equity investors, 2018 exuded evidence of increased volatility, and much of it was in the downward direction.
The SEC is one of several regulators working on best interest rules.

Despite much speculation from various industry sources saying that the SEC could have a final Regulation Best Interest rule as early as the first quarter, no one knows when in 2019 to expect the final ruling. The government shutdown has likely put work behind schedule and little is getting done, analysts say.
Proper planning can lead to a large retirement fund. Then what?

Some people are fortunate enough to have enough financial resources to leave a legacy to family members or some special cause. If they have accumulated more than they need to consume in their lifetimes, they may be able to multiply the size of their gift with proper planning. The advisor can help minimize the tax impacts.

Earnings reporting season is about to get underway, and Wall Street is expecting another quarter of big growth. But investors will likely pay little attention to a fifth straight quarter of double-digit gains. Instead, they want to hear what CEOs have to say about 2019 prospects, and how much the global trade war and rising wage pressures are dragging them down.

Marstone, Inc., a leading, independent digital wealth management platform, and Interactive Brokers Group, Inc. an automated global electronic broker, today announced the integration of their two platforms to provide a new fully-integrated, turnkey wealth management solution. Milan Galik, President and Director, Interactive Brokers Group, said,“ By pairing…

To help Americans best position themselves for the year ahead, members of the American Institute of CPAs share the following planning tips so the new year can bring a‘ new financial you.’. It’ s that simple, but you have to know where you are now in order to determine where you want to be.”- Lisa Featherngill, CPA/PFS member of the AICPA PFP Executive Committee.

Employers are seeing more new hires rotate out of a position sooner, according to one Ohio firm. Waiting periods, disappearing employer-matches, early withdrawal taxes and penalties can affect your client’s employer-sponsored retirement account, says one adviser.

The month of January is often met with clients eager to complete their New Year’ s resolutions to act more adult. Besides new exercise regimes and attempts at savings accounts, from a legal perspective, the new year is the perfect impetus for tackling life’ s perennial to-do list. From an estate planning perspective, here is a punch list that every adult should look…

NEW YORK and HOUSTON, Jan. 8, 2019/ PRNewswire/– Atria Wealth Solutions, Inc., a wealth management solutions company with subsidiaries that serve independent financial advisors and financial institutions, today announced that it entered into an agreement to acquire NEXT Financial Group, Inc., an award-winning independent wealth management firm based in…

Volatile markets in 2018 drove more investors to seek out the guidance of independent registered investment advisors, with RIAs citing nearly 20 percent growth, on average, both in assets and revenues in 2018, TD Ameritrade Institutional 1 found in its latest RIA Sentiment Survey. They say that U.S. interest rates, corporate earnings and international trade…

Wall Street’s analysts and market experts have scores of unique investing ideas and perspectives as we begin the new year. Experts from across the spectrum- from Wall Street’s most prominent stock-analysis outfits to “boutique” shops that specialize in just one or two corners of the market- have delivered their market outlooks for 2019. They include price…

Most partnerships are forged because people want to work together. There may be a little more to that in some cases, as in one has the capital and the other has the knowledge or business acumen. But generally, unless you inherited something with someone else, partnerships should be based on an amicable relationship with a prosperous goal.

Holiday parties are fun for economists when the stock market is up and calm— then we are regaled with stories of savvy picks and personal triumphs. When equities head south along the pattern of a rat seeking out of a maze, folks irritably ask– professor, what’s wrong? Two facts should color assessments of the recent market correction: Stocks are undervalued and the…

–Focus Financial Partners Inc., a leading partnership of independent, fiduciary wealth management firms, today announced that definitive agreements have been entered into under which Aurora Financial Advisors, LLC will join The Colony Group, LLC, and WG&S, LLP will join Gelfand, Rennert& Feldman, LLC. The Colony Group, LLC, Boston, Massachusetts: Aurora, an…
Here's the Top 10 Financial Articles from 2018 from AdvisorNews.

There’s been no shortage of financial news in 2018. From the SEC’s Regulation Best Interest to the ups and downs of the stock market, here are the best AdvisorNews articles of 2018.

Insurance agents need to be much more than just life sellers, experts say.

Holistic planning and financial wellness are two of the themes that life insurance agents can expect to see in their business in 2019, according to an industry analyst. The challenge for agents is “How do I continue to do what I’m really good at – life insurance – but also be more for my client?”

The firm also includes Carroll Klotz, Marie Knorr, Ronald Lambert, George Stofan, Irene Celander and Daniel Murphy. Rich Steinmeier, LPL Financial managing director, and divisional president, Business Development, said,“ We welcome Mark and the team to LPL. About LPL Financial LPL Financial is a leader in the retail financial advice market and the nation’ s largest…

Dec. 20– BOSTON– The secretary of state’s office filed an administrative complaint against a South Orleans investment adviser Wednesday, seeking to have his registration revoked after he allegedly ran a scheme with a stockbroker to overcharge his clients more than $1 million in trading fees. According to the complaint, Weller worked with broker Timothy…
Fed Chairman Jerome H. Powell has tough decisions to make regarding interest rates.

The Federal Reserve is increasing interest rates by 0.25 percent, equaling a hike in late September. Clients might not fully understand the implications of the rising interest rates, or how it impacts their portfolio. This offers a golden opportunity for advisors to provide an education and bond with clients.

Woodbridge collapsed into bankruptcy in December 2017 and the SEC previously charged the company, its owner and others https://www.sec.gov/news/press-release/2017-235 with operating a $1.2 billion Ponzi scheme and charged five of the top Florida- based sales agents https://www.sec.gov/news/press-release/2018-157 for securities and…

The Securities and Exchange Commission issued the following order instituting administrative and cease-and-desist proceedings involving Ancora Advisors:. The Securities and Exchange Commission deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted pursuant to…

The enterprise group, led by Greg Spicer, reported that it served approximately $400 million of client brokerage and advisory assets*. The advisors join LPL Financial from Cadaret Grant.. On the move to LPL Financial, Spicer said,“ The industry is in a period of consolidation and acquisitions, and that can leave planners with a degree of uncertainty.

This week, we will talk about some unusual IRA rules. Sometimes, federal law allows special benefits for military personnel. One of these special treatments that most people do not know about allows the beneficiary of military death gratuities and Service members Group Life Insurance to contribute funds to a Roth IRA or a Coverdale Education Savings Account.
Agency owners will be able to claim more money under new tax rules approved Friday.

All signs point to 2019 being a good year to be a financial advisor. The regulatory shackles are in abeyance, while surveys show consumers are happier and better prepared when they get financial advice. In addition, annuities are on the way back and more Americans are gaining access to retirement plans.

Based on expectations for economic growth and monetary policy, along with the fiscal tailwinds of government spending, reduced regulation and lower taxes, LPL Financial Research expects 2019 may be a good year for equity investors. The company forecasts GDP growth of 2.75 percent.

–Robertson Stephens, a wealth management firm with offices in San Francisco and New York, today announced its official launch with sponsorship from private equity firm Long Arc Capital. As part of the launch, Robertson Stephens has assembled an accomplished management team to execute on its strategic vision led by CEO and Chief Investment Officer Stuart Katz,…

The new automated account opening feature in Wealthbox now allows RIAs on the TD Ameritrade Institutional platform to pre-fill client information from Wealthbox into Veo and Veo One account-opening forms from the contact record page in Wealthbox. Veo One users will benefit from seamless single-sign-on between the Wealthbox and Veo One when generating…

Especially once you drive off I-95 or U.S. 202, little Delaware has almost the lowest gas prices in the U.S., averaging more than 50 cents below what Pennsylvanians have been paying this fall, according to AAA and Boston- based GasBuddy.com. With the U.S. selling more oil to foreigners than it buys abroad, higher oil prices will mean more money flowing into the U.S.,…

While teaching corporate finance at Augusta University in Georgia, associate professor Peter M. Basciano noticed that students who hadn’t been exposed to investing seemed intimidated by it. That led him to re-think his own family’s financial education. Forty-five percent of parents in a T. Rowe Price 2018 Parents, Kids& Money Survey said they talk with their…

The Nasdaq fell into correction mode, and most of the Standard& Poor’s 500- stock index’s components slipped into either a correction or an outright bear market. Trade talks between the U.S. and China are threatening to take out one of the major headwinds on American stock performance. There are plenty of risks, of course, including a collapse in trade relations…
Many Americans think retirement is not a realistic option, surveys show.

Nearly one in five (18%) respondents said they will include financial planning in their resolutions for next year, with millennials once again leading the way at 27 percent. Fewer Americans are troubled about financial issues like stagnant wages (23%) and job security (18%) than they were in 2017 (30% and 26%, respectively).

Morgan Stanley, a multinational financial services corporation, issued the following news release:. The majority of investors and bank loan officers do not see the significant funding imbalance facing female and minority entrepreneurs in the U.S., despite making imbalanced investment decisions themselves, according to a new report and survey released by…

–Cetera, a leading network of independent broker-dealer firms supporting the delivery of professional financial advice, today announced that Joseph and Pamela Malara have joined the Cetera Investment Services platform. The Malaras are an experienced husband-and-wife financial advisory team with approximately $180 million in client assets that…
With the economic uncertainty heading into 2019, some economists are recommending higher liquidity.

The stock market is up and down and most analysts expect the Federal Reserve to raise short-term rates during its meeting this month and continue to raise rates in 2019. The wild swings of the economy are likely to continue, necessitating a cautious investing approach.

This acquisition brings Mercer Advisors’ total offices to 37 and increases AUM to $15 billion. Dave Welling, Chief Executive Officer of Mercer Advisors, stated, “We are delighted to join forces with Colin Bell, and the entire Bell Wealth Management team. Mercer Advisors currently serves over 1,500 physicians and dentists nationwide, helping these clients in…
Millennials want to work with insurance agents, a new Nationwide survey finds.

Sixty-nine percent of Millennial business owners work with an insurance agent, followed by Boomers at 66 percent and Gen X at 59 percent. The most common reason for working with an insurance agent among all generations is the trust that business owners place on the guidance and expertise from an agent.

“We are thrilled advisors in the eMoney network will now have access to iRetire as a powerful and actionable compliment to their planning tools,” said Frank Porcelli, Chairman of BlackRock’ s U.S. Wealth Advisory business.“ iRetire empowers advisors and ultimately their clients to focus on the most important question,‘ How much income could I generate in…
Many universal life policies sold decade ago are failing their owners in retirement.

Forty-four percent of financial advisors say their confidence level in the economy is about the same as it was this time last year. Thirty-eight percent are less confident, while 18 percent are more confident. The results come via a new survey by ALPS Advisors.

The Securities and Exchange Commission today announced that three broker-dealers have agreed to pay more than $6 million to settle charges for providing the SEC with incomplete and inaccurate securities trading information in required SEC productions known as “blue sheet data,” which the SEC uses to carry out its enforcement and regulatory obligations,…

Eastern District of New York. Earlier today, in federal court in Central Islip, Steven Pagartanis pleaded guilty before United States District Judge Joseph F. Bianco to conspiracy to commit mail and wire fraud for orchestrating a Ponzi scheme over the course of 18 years. Richard P. Donoghue, United States Attorney for the Eastern District of New York, William F….