Advisor News

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.

Jul. 12— ROCHESTER— Matthew Thomas Onofrio, a real estate investor who owns multi-million dollar properties in Rochester, recently pleaded guilty to one count of federal bank fraud and forfeited $35.7 million stored in a Rochester bank. As part of a plea agreement, Wisconsin- based Onofrio pleaded guilty to one count of bank fraud involving a Minnesota property…

U.S. institutional investors are readying for an imminent black swan event amid fears recent turmoil in the banking sector is a prelude to a bigger financial crisis, new research shows.

The Society of Actuaries surveyed Americans who are actively saving for both their retirement and their family member’s or friend’s college education to better understand the challenges that families face.

Despite workforce participation rates that are among the nation's highest and record low unemployment, Minnesota's labor force remains more than 30,000 people behind where it was prior to the pandemic— in large part because of a spate of retirements post-COVID. "Many people retired during or immediately after the pandemic when they had the chance to do it,"…

The Virginia Retirement System is hoping for a 5% return on its investments in the fiscal year that ended June 30, after finishing the first nine months in the red. Investment earnings had fallen by 1.8% through March 31, when the state retirement trust fund held $102.6 billion, but a month later, VRS had added $1 billion, boosting the return to 4.2% through April 30.

PLAISTOW— When you retire, you hope that you'll be able to anticipate the events that could cause you financial challenges down the road. For one thing, most retirees are probably aware that, even if they remain healthy, their health care costs may rise, even if they're covered by Medicare or Medicare Advantage. In fact, 63% of retirees think the biggest financial…

Business confidence remained flat during June amid a resilient economy, stubborn inflation, a pause by the Federal Reserve and a shortage of workers across almost every industry. The mixed reading reflects an economy that continues to defy expectations in the face of 10 interest rate increases by the Federal Reserve. Latinas413 has received a $24,800 grant…

Now is a good time to stop: Check fraud tied to mail theft is up nationwide, according to a February alert from the Financial Crimes Enforcement Network. This is partially due to the effects of the pandemic, when thieves targeted government relief checks in the mail.“ Fraudsters just went back to tried-and-true potential attack factors that seemed to be working,”…

The Securities and Exchange Commission today charged former U.S. Army financial counselor Caz L. Craffy for defrauding Gold Star family members and others by engaging in unauthorized trading–including of life insurance and family survivor benefits they received following the death of an active duty service member–and for recommending excessive…

Tracked by the U.S. Federal Reserve, America's collective savings rate currently stands at just 4.6%. This means that, on average, Americans are saving only $4.60 on every $100 they earn after paying taxes. In June 2022, the personal savings rate reached a post-pandemic low of just 2.7%.

Financial experts are bracing for more interest rate hikes by the Federal Reserve over the remainder of 2023. Any interest rate revision— either increasing or decreasing— can cause a ripple effect throughout the economy. Accordingly, the Federal Reserve's actions will probably exert at least a moderate influence over financial choices you may make at home…

GREENVILLE, N.C– Inflation has been high in the United States for two years and although it has been easing slowly, it has eaten into people's earnings and savings, especially for those paid the least. Low-income families are hurt more by inflation for a number of reasons, according to the Federal Reserve Bank of Dallas. To determine which workers have the bleakest…