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…
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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:.
7 in 10 Americans stressed over holiday spending, study finds
Increased spending and higher credit card balances and making 7 in 10 Americans stressed about their finances this holiday season.
When asked about the challenges financial organizations will face in taking advantage of GenAI, leaders listed a number of barriers.
How can advisors close the gap with consumers?
Even as American consumers navigate a new retirement reality characterized by market volatility, inflation and recurrent financial crises, the majority of Americans are not employing the guidance of a financial professional to create their strategy, according to the Annual Retirement Study from Allianz Life.
Beyond food, fuel, and maybe used car prices there are not a lot of areas where I see any relief on the inflation front. The Bureau of Economic Analysis is predicting that American consumers will spend a whopping $95 billion on live event tickets this year. An average ticket price for a live concert this summer stood at $120.11, according to Pollstar.
DPL hits $2B in commission-free annuity sales driven by fiduciary advisors
The increasing prevalence of fiduciary business models among financial advisors is proving to be a tailwind for commission-free annuities.
Dec. 4— The U.S. Securities and Exchange Commission has charged the company that owns the main strip mall at Belleville Crossing shopping center and its CEO with fraud for allegedly engaging in a multiyear scheme to "misappropriate" more than $35 million in investor funds. The SEC filed charges on Nov. 28 in U.S. District Court for the District of Arizona against…
The landscape of retirement income planning is undergoing significant transformation, reflecting shifts in market dynamics, client expectations and the advent of new financial products. This paradigm shift necessitates a broader understanding of various financial elements, including investment products, Social Security, inheritances, market…
Equitable released a study that shows how changes in relationships can impact financial behaviors and mindsets for women.
Betterment at Work released a new survey on the state of retirement readiness across the U.S. workforce.
Supreme Court takes up meaning of ‘income’; decision could impact taxes
A couple’s fight to get a $14,729 tax refund made it to the U.S. Supreme Court this week in a case that might upend the federal tax code.
Hands off to cuts to Social Security and Medicare. When you work and receive your paychecks, you will notice some of your pay has been deducted for Social Security and Medicare. Most Americans are deeply opposed to cutting into Medicare or Social Security benefits, and most support raising taxes on the nation's highest earners to keep Medicare running as it is.
David Solomon, CEO of Goldman Sachs, has attacked a recent proposal from regulators that would require banks to raise their capital on the books by 16% to prevent risks of collapse, such as what occurred at Silicon Valley Bank, according to a Yahoo! The Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency proposed the…
Americans underestimating LTC cost risk to retirement, study finds
Half the financial advisors surveyed believe consumers should be more focused on how long-term care (LTC) costs could impact their retirement.
A majority of advisors are experimenting with generative artificial intelligence in their practice and educating their clients on potential risks of online misinformation.
Advisors should see digital tools, apps as opportunity, J.D. Power says
Financial advisors can use mobile wealth management apps as a means to increase client engagement and satisfaction, a recent study found.
Just 1 in 5 affluent investors use parents’ advisor
Only one in five affluent investors uses the same advisor as their parents, according to a recent Cerulli Edge study.