March 2024 is making investors nervous. The red letter day is March 11, when US central bank the Federal Reserve will end the bank term funding program, a year after it began in response to the failures of regional banks Signature, Silvergate and Silicon Valley. There soon followed the failures of Signature and also Swiss bank Credit Suisse, which had to be taken…
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Financial services careers can take many paths
With more than 6.5 million Americans working in financial services and wealth management, there are many paths to a career in the field beyond being an advisor or a wealth manager.
Generational wealth: It requires discipline and focus
Generational wealth is “when you’re OK, you can do something for someone else,” Gerald Grant II said.
Study: Investors of color entering market more quickly than whites
Investors of color are entering the market at a faster pace than white investors, according to a recent FINRA study.
In AI ‘Wild West,’ firms urged to adopt in-house policies
In the absence of regulation on generative AI, businesses and independent professionals should create ethical use policies, one expert says.
Women assuming more financial power, responsibility, study finds
Women are assuming more financial responsibility, with 49% considering themselves to be the CFOs of their household.
The office of the U.S. Attorney for the Eastern District of Virginia issued the following news release:. A foreign national formerly of Henrico was sentenced today to two years in prison after engaging in a $3.1 million insider trading scheme. Huang personally made over $1.4 million in profits, while the overall conspiracy made more than $3.1 million.
Now, even as the risk of additional bank failures looms, this legislation languishes before the full Senate. Congress has apparently forgotten the disruptions caused by last year's failures and the tens of billions of losses for the FDIC. The executives failed to effectively hedge that risk, while also relying heavily on unstable, uninsured deposits which…
A barred investment broker from Glen Cove pleaded guilty to grand larceny and other fraud charges on Feb. 9th after defrauding investors with a half-million dollar stock scheme, deceiving them to believe they were purchasing pre-IPO stock for well-known companies, according to the Nassau County District Attorney's Office. Peter Quartararo, 57, pleaded…
Truist Financial Corp. is selling its stake in Truist Insurance Holdings, a subsidiary of Truist and the fifth largest insurance brokerage in the U.S., for $15.5 billion, the Charlotte-based bank said Tuesday. The sale— expected to close in the second quarter of this year— is to an investor group led by private equity firms Stone Point Capital and Clayton, Dubilier&…
A financial services career is more than planning
Financial services needs talent in several areas – not just in planning, a pair of Schwab leaders said.
Column: Boosting retirement income with annuities
Fear of the unknown can lead to missed opportunities throughout our lives, including in financial planning.
Credit card debt is clearly causing restless nights after many consumers simply attacked higher prices for gas, groceries, and other goods by pulling out the plastic. A record $1.13 trillion in debt ended up on credit card balances during the fourth quarter of 2023, according to the latest report on household debt from the Federal Reserve Bank of New York.
Digital World Acquisition Corp. announced the approval of the merger between Digital World and Trump Media& Technology Group. We are excited to soon share the news of the Business Combination's approval process with them,” Eric Swider, CEO of Digital World, said in a statement on Wednesday. The SEC said Digital World violated anti-fraud laws in July by not…
Brad Rhodes: Buy guarantees, not promises. Published 12:00 am Sunday, February 18, 2024. The famous investor, Warren Buffett, put it in perspective when he said this about the insurance business.
One of your important sources of retirement income will likely be Social Security— but when should you start taking it? You can start collecting Social Security benefits at 62, but your checks will be considerably bigger if you wait until your full retirement age, which is likely between 66 and 67. However, if you have adequate financial resources to meet your…
While reading a list of business headlines, the following captured my interest: "I am 52 years old planning for retirement. Should I open a Roth IRA or open an index fund or exchange-traded fund? " If you put $5,000 into your traditional IRA, your income for the year contributed is reduced by $5,000 for that tax year.
Wells Fargo& Co. has had another consent order terminated by its federal regulator related to its fraudulent customer account scandal that erupted in September 2016. The bank and the Office of the Comptroller of the Currency confirmed the ending of the consent order in separate statements on Thursday. On Thursday, the Office of the Comptroller of the Currency…
Maya Angelou's name probably doesn't come up too often in the typical conversation on Wall Street, but the celebrated African-American poet nonetheless has some sound advice on relationships that investors perhaps should have heeded these past few weeks. The Federal Reserve has been telling investors for weeks, some would argue months, that betting on…
Roberto Montano, a/k/a Jorge Roberto Montano Midence, a/k/a Roberto Pellegrini, a/k/a Alberto Yardi, 58, pleaded guilty to wire fraud, U.S. Attorney Jane Young announced Tuesday. Chief U.S. District Court Judge Landya B. McCafferty scheduled sentencing for May 30. Montano is a Guatemalan citizen who managed two forestry projects in Guatemala for an investment…
