A Perry Hall man pled guilty in Maryland's U.S. District Court Tuesday to stealing approximately $1 million from an elderly client's retirement account, the U.S. Attorney's Office for the District of Maryland said. Blizzard's fraudulent practices resulted in about $1 million in losses for R.M., the plea documents state. "This defendant perpetrated a heartless…
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It's been a rough couple of years, economically speaking, as consumers and businesses accustomed to years of essentially free money, courtesy of the Federal Reserve, had to adjust on the fly to the sudden spike in interest rates. The Fed appears poised to provide relief in the new year. Rates on 10- year Treasury bonds now are 3.9 percent, down from 4.9 percent less…
–Aon plc, a leading global professional services firm, today announced the signing of a definitive agreement to acquire NFP, a leading middle market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, from funds affiliated with NFP's main capital sponsor, Madison Dearborn Partners, and funds affiliated with HPS…
Study finds young investors acting on online financial misinformation
As investors become inundated with financial advice on social media, misguided advice from unqualified sources has become more prevalent.
PGIM, 1 the $1.2 trillion global investment management business of Prudential Financial, Inc., has launched four actively managed exchange-traded funds— the PGIM Jennison International Opportunities ETF, PGIM Jennison Better Future ETF, PGIM Jennison Focused Mid-Cap ETF, and the PGIM Short Duration High Yield ETF. Stuart Parker, President and CEO, PGIM…
The Securities and Exchange Commission today announced charges against Mmobuosi Odogwu Banye a/k/a Dozy Mmobuosi and three affiliated U.S.- based entities of which he is the CEO-Tingo Group Inc., Agri-Fintech Holdings Inc., and Tingo International Holdings Inc.- in connection with an alleged multi-year scheme to inflate the financial performance…
With inflation sky high this past year, the Federal Reserve has steadily increased interest rates, with rates now at a 22- year high. Higher interest rates have made the cost of borrowing money rise, but at the same time has made saving money a strong investment. But you have to be proactive to get the benefits of the current rates.
Millennial investors most comfortable with market volatility, study shows
Americans are feeling experienced with investing, and millennials are emerging as the generation most comfortable with market volatility,
Navigating the unsettling terrain of Social Security overpayments
Social Security overpayments have been in the news recently. What advisors and beneficiaries need to know.
Judge allows SEC annuity fraud allegations against advisor to proceed
A federal judge refused to toss out annuity fraud charges filed by the Securities and Exchange Commission against a Massachusetts financial advisor.
Why good listening (and good music) establishes strong client relationships
By Danny Smith Being an advisor means most of your day is spent listening to others. These conversations are more…
MDRT finds financial advisors quick to adopt generative AI
Advisors are adopting AI rapidly, with 8 out of 10 advisors surveyed by MDRT saying they use it for at least one professional purpose.
Tech innovation will drive your wealth management practice to greater success
As you consider how you will invest in new digital solutions and technology in the new year, I suggest looking at these areas to help identify how you can continue to innovate in this disruptive market.
Allianz Life study finds more Americans want to make positive changes to their personal finances in 2024.
Many experts are coming to believe that the Federal Reserve will engineer a soft landing, where inflation slides toward the central bank's 2% target and the economy doesn't fall into recession. Goldman Sachs economist Jan Hatzius sees only a 15% chance of recession in 2024 while he predicts GDP growth of 2.1%. "What we are expecting now is a soft landing," Nancy…
CFP Board reminds advisors of the differences between fiduciary and best interest
As more states rush to adopt best-interest annuity sales standards, the Certified Financial Planner Board of Standards is reminding members that it has a higher standard.
The U.S. Department of Justice issued the following news release:. According to court documents, Keith Berman, 70, of Westlake Village, was the CEO and sole director of Decision Diagnostics Corp., a public medical device company. Berman also falsely told investors that the Food and Drug Administration was on the verge of approving DECN's request for emergency…
Retirement health care planning and Medicare premiums: Advisor takeaways for 2024
Medicare premium increases are among the health care costs that advisors must help clients budget for in planning for retirement expenses.
According to new research from Edward Jones and Morning Consult, financial advisors across the industry report their emerging adult clients (ages 18-34) want to retire at 61, three years ahead of clients 35 to 64 years old.
Floods, fires, historic storms— severe weather events are on the rise. “Unfortunately, I’ ve had clients who’ ve been victims of fires, flooding, hurricanes,” says Sev Tamayo, an agent with Goosehead Insurance in Palm Coast, Florida.“ Some of them were prepared and some of them weren’ t.”. Here are some items to consider, according to the Federal Emergency Management Agency:.