Three innovative financial offerings – cryptocurrency, fractional stock shares and securities-based lines of credit (SBLOCs) – are going mainstream, with penetrations in the double digits among U.S. households, especially among younger investors.
Advisor News
Fannie Mae issued the following news release on April 19, 2022:. Fannie Mae announced today that it has executed its fourth Credit Insurance Risk Transfer (TM) transaction of 2022. As part of Fannie Mae's ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market, CIRT 2022-4 transferred $844.8 million of mortgage…
DULUTH, Ga. — Primerica released the Middle-Income Financial Security Monitor for the first quarter of 2022 — a national survey…
As financial planners, we must scrutinize every data point our clients provide. Are they maxing out their 401(k)? Will their estate plan be properly executed? Do they have the proper insurance? How do we project investment returns in the future given their risk appetite? The last question is arguably one of the most important questions an advisor must consider.
Columbus, OH — The stock market began the second quarter of 2022 on a positive note, but it may not…
66% Of Americans Fear Inflation Will Hurt Retirement, Voya Survey Finds
Voya’s findings noted that three-quarters (73%) of millennials and Gen Xers (74%) agreed or strongly agreed that they are worried about the impact of inflation on their ability to save enough for retirement.
WASHINGTON- The Supreme Court on Monday rejected a challenge from Connecticut, Maryland, New Jersey and New York to the 2017 tax law that capped federal tax deductions for state and local taxes. It argued that the Republican-led tax law, signed by then-President Donald Trump, unfairly singled out states in which Democrats predominate. Legislation to raise the…
Transitioning from being a saver in the accumulation phase to a spender in the spend-down stage of your financial life means you will be required to not only keep a close eye on your investments, spending, and taxes but for also creating your own "paycheck." This paycheck might result from living off the interest or dividends from investments for some retirees.
Strategists from the world's biggest asset manager are challenging traders betting that the Federal Reserve will raise rates to around 3% next year, saying that policymakers will raise borrowing costs to 2%, but not go much further. An overly aggressive path of hikes to combat the spiraling cost of living may backfire, according to the BlackRock Investment…
The housing market has had a lot to contend with recently: The COVID-19 pandemic. The average interest rate jumped by more than half a percentage point since March 10, per Freddie Mac's weekly Primary Mortgage Market Survey. And the average rose above 4% on March 17 for the first time since 2019..
No Go For The Robo: Study Finds Americans Still Value Human Advisors
A new study from the Million Dollar Round Table reveals that 56% of Americans want their finances to be handled by a mix of people, robo-advisors and other technological tools.
Many people are skeptical when I discuss their Social Security benefits as a part of their retirement plan. The common refrain is that they don't want to count on Social Security because "it's going to run out of money soon." Today, I thought we should clarify what it means for Social Security to "run out of money" and what the implications are for those planning for…
Let's start by focusing on two February 2022 data points from the U.S. Bureau of Labor Statistics which show a 10% rate of rising prices among producers of goods, and 7.9% pace at which consumer prices are rising. The Federal Reserve has made it clear that it intends to raise interest rates at least seven times by a quarter point this year as a first step in tempering…
The U.S. Attorney for the Southern District of New York, Damian Williams, issued the following news release on April 13, 2022:. Damian Williams, the United States Attorney for the Southern District of New York, announced today that SERGEI POLEVIKOV, a former quantitative analyst, was sentenced late yesterday to 33 months in prison by United States District Judge…
–Despite investing significant time into their finances, many Americans find managing their money to be too complex, according to a new Digit survey released today. In fact, nearly three in five said managing their money is more mentally demanding than solving a crossword puzzle. "Despite the fact that a strong relationship with money is essential to our lives,…
The struggle for independent advisors to find and keep the right people fuels a record-setting merger and acquisition climate. In its 2022 RIA Survey, Advisor Growth Strategies polled 101 independent firms to uncover their perspectives on business management and M&A. More than half of this year’ s respondents manage greater than $1 billion in client assets,…
Study: More Than 50% Of Women Control Household Budget, Retirement
On average, women who share money management duties with their partner take more than half of the responsibility for household finances (55% of the work), investments (54%), and retirement planning (55%).
The AARP's Public Policy Institute says employees are 15 times more likely to build retirement savings if they have automatic payroll deductions at work. "For employers who don't offer their own plans, these help address a lot of things that are barriers," said Angela Antonelli, executive director of the Center for Retirement Initiatives at Georgetown…
MetLife Investment Management, the institutional asset management business of MetLife, Inc., announced the launch of a private equity fund investment platform for institutional clients in concert with the closing of approximately $1.6 billion in commitments to a new MIM-managed fund-of-funds. The new fund purchased a portfolio of approximately $1.2…
