Steven Andiloro, 51, of Mooresville, is facing federal charges in connection with an alleged investment fraud scheme and for fraudulently obtaining more than $2.6 million in COVID-19 relief funds, announced Dena J. King, U.S. Attorney for the Western District of North Carolina. Jason Byrnes, special agent in charge of the United States Secret Service, Charlotte…
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Many advisors not spending enough time with clients, survey finds
One-third of financial advisors don’t have enough time to spend with clients, potentially affecting client relationships, says a recent survey.
Letters of Love: Rethinking estate planning
Paul Garofoli, regional vice president at the Standard, discusses annuities, estate planning and using “letters from heaven,” which every agent and advisor should incorporate into their practice.Â
Understanding the new inherited IRA distribution rules
Inherited IRA beneficiaries will benefit from an advisor’s help in navigating the new IRS rules.
A bipartisan Senate bill introduced Wednesday would ban stock trading and individual stock ownership by members of Congress, executive branch officials and their families. Kirsten Gillibrand, D- N.Y., and Josh Hawley, R- Mo., is the latest of several seeking to ban or limit stock trading by members as public scrutiny of the practice increases.
The stock market has been experiencing a nice rally the last week, likely because investors are hoping for an interest rate cut by the Federal Reserve. Their optimism is based on the inflation rate slowing. While we are making some improvement because of higher interest rates, we still have a way to go.
HealthView Services outlines new approach to automating portfolio management to address health care and other expenses throughout retirement.
The “Great Wealth Transfer” is underway and 15% of American adults expect to receive an inheritance in the next decade, according to the latest findings from the New York Life Wealth Watch survey.
More than half of Americans have a negative outlook on the economy in the coming year.
Liz Miller, CFP®, CFA®, is the founder and President of Summit Place Financial Advisors.
The ERISA Industry Committee and coalition partners today issued a letter to the U.S. Department of Treasury and the Internal Revenue Service requesting transition relief relating to a SECURE 2.0 Act provision requiring that individuals with FICA wages of more than $145,000 in the prior year make any retirement plan catch-up contributions on an after-tax (“Roth”) basis starting after December 31, 2023.
After months of back-and-forth filings, Jerry Falwell Jr. and his attorneys were present in federal court Tuesday morning to give their arguments as the former Liberty University president seeks about $8.6 million in retirement benefits. On July 1, 2020, the account was credited with an amount of nearly $7.6 million and, each June 30, the account was credited…
A new report published from the 33rd annual Retirement Confidence Survey finds that caregivers are more likely to have lower levels of assets and more likely to have problems with debt than non-caregivers.
Financial planning for young adults ‘not a straight line’
Financial planning for young adults is more like a winding road, said an advisor who works with multigenerational clients.
Despite need, many advisors don’t recommend LTC protection to clients
While most Americans will need some type of long-term care, a recent survey revealed that only 54% of financial professionals recommend or offer LTC protection to their clients.
Seniors and younger people are particularly vulnerable to scammers who claim to represent Social Security. Check out the Federal Trade Commission's page at consumer.ftc.gov/scams for additional scam-related information. Report the scam immediately to our Office of the Inspector General at oig.ssa.gov/report/.
History shows that when the U.S. Federal Reserve makes it inexpensive to borrow money, investors are more likely to make poor financial decisions. In the past year, some financial stresses have emerged: cryptocurrencies have been upended, special purpose acquisition companies have floundered and several U.S. banks have failed. The current U.S. banking…
Americans believe they will need $1.27 million to retire comfortably, according to the latest set of findings from Northwestern Mutual’s 2023 Planning & Progress Study.
Long Island residents Eugene Austin, age 60, of Port Jefferson, and his son Brandon Austin, age 27, of Coram, are named in an indictment that was unsealed in Manhattan federal court on Wednesday, July 12. Investigators said Eugene Austin also duped friends and acquaintances into giving him personal loans by falsely claiming he would pay them back with interest.
Sparks fly as House members debate ESG investment regulations
House members on both sides of the aisle argued for nearly three-and-a-half hours today as the House Financial Services Committee hosted a hearing on ESG investing.
