A report by temp and staffing agency Randstad USA shows that 70% of workers are rethinking their retirement plans as they feel their present financial situation is delaying their plans to retire earlier. "There are people that are pushing the retirement age out," said Jennifer Brock, president of Georgia- based human resource consulting company Human…
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Adani Group is on a roadshow to reassure international investors after the short-seller Hindenburg Research launched allegations of fraud. A month after accusations of fraud, stock-market manipulation and money laundering were launched by the New York short-selling investment firm Hindenburg Research, Adani Group has not succeeded in allaying…
Feb. 27â A former administrator at a Buffalo investment advisory firm has been sentenced to three years in prison for stealing more than half a million dollars from the company and its clients, U.S. Attorney Trini E. Ross announced. Jennifer Campbell, 48, of Niagara Falls, who was convicted of wire fraud, also was ordered by U.S. District Judge Lawrence J. Vilardo to pay…
âNeutralâ ESG rule draws GOP fire in court and Congress
Faegre Drinker analysts said the Biden administrationâs final Department of Labor ESG rule found middle ground when it became effective on Jan. 30 but Republicans are still taking aim.
As the American populace grows older, financial planners will need to address the increasing financial impact felt by older Americans and their families.
Older Americans richer than previously thought, Census says
A new project corrected data from 2018, showing that Americans over 65 were 27.3% richer in that year than previously thought.
Helping Black Americans bridge the racial wealth gap
Helping clients create generational wealth is crucial to helping close the racial wealth gap, says one advisor passionate about educating Black clients on ways they can attain financial security.
Half of institutional investors fear rate rises will trigger a liquidity crisis, while nearly three in 10 think equity markets could fall up to 20% this year, new research shows.
Vanishing retirement with more workers pushing past 65, survey shows
: By 2030, a third of those over 65 expect to be working, but few are factoring in the real threats to retirement security, according to a survey from Voya and Easterseals.
Many investors were glad to see the end of 2022. But what's ahead this year? Several factors contributed to these results, including the moves by the Federal Reserve to aggressively hike interest rates to combat inflation, the RussiaUkraine war, recession fears and increased concern over COVID19 cases in China.
In recent months, whenever expectations leaned toward higher rates, stocks and bonds have fallen. Just a couple weeks ago money-market traders didn't expect the Federal Reserve to push its benchmark interest rate above 4.75%-5% this year. Now the expectation is 5%-5.25%.
Feb. 15â A former official at a beleaguered Philadelphia- based business lender admitted in court Wednesday that he and the company's other principals defrauded hundreds of investors by offering the hope of double-digit returns on loans to companies deemed too risky to borrow from traditional banks. The conspiracy charge to which Perry Abbonizio, 65, of…
The who, what, where, how and why of advisor mentorship
Mentorship is a two-way street between mentor and mentee.
Feds file first criminal charges against Par Funding principal in long-running financial fraud probe
Feb. 15â A former official at an embattled Philadelphia- based business lender is expected to admit in court Wednesday that he and the company's other principals defrauded hundreds of investors with promises of double-digit returns on loans to companies deemed too risky to borrow from traditional banks. The conspiracy charge to which Perry Abbonizio, 65, of…
Kirchner, 35, was arrested at his home in Westlake on Tuesday morning, according to the U.S. attorney's office for the Northern District of Texas. He later appeared before U.S. Magistrate Judge Hal R. Ray Jr. "This defendant flaunted his apparent wealth while allegedly diverting millions from company coffers into his private bank account," U.S. Attorney Leigha…
âAll of these pilots are seeking to demonstrate whatâ s possible across the country for state and federal policy,â said Sean Kline, associate director of the Stanford Basic Income Lab, which is tracking more than 100 pilot programs across the country. The California programs are offshoots of universal basic income, a decades-old idea that was revived in 2019 when…
We survived 2022, but will 2023 be better? Bill Greiner, CFA, chief economist for Mariner Wealth Advisors, states this is correct 72% of the time. One reason is the Federal Reserve Board's indication to continue increasing interest rates to help curb inflation.
The North Texas- based founder and former CEO of a supply-chain logistics company was arrested and charged with wire fraud after FBI agents raided his Westlake home Tuesday morning, according to the U.S. attorney for the Northern District of Texas. Christopher Kirchner, 35, the founder of Slync, a supply-chain management software startup, has been charged via…
Federal judge tosses out portion of DOL rollover advice guidance
Financial advisors providing first-time advice in a plan rollover setting will not be considered fiduciaries â at least for the time being.
American International Group today announced that it has entered into a binding memorandum of understanding with Stone Point Capital LLC, a leading private equity firm focused on investing in businesses within the global financial services industry, to form an independent Managing General Agency to serve High Net Worth and Ultra High Net Worth markets.
