Advisor News

The Federal Reserve issued its latest interest rate hike in early November. "High APRs coupled with 72- or 84- month loans result in a person paying roughly a 20% premium over MSRP over the life of the loan," said Ivan Drury, director of insights for Edmunds. On a $40,000 vehicle, with the current average APR of 6.3% and a 72- month term, this translates to $8,139 in…

–When average monthly new-car payments surpassed $700 in May and car prices reached record highs, many potential car buyers decided to sit on the sidelines until the market returned to normal. The Federal Reserve continues to raise the federal funds rate, driving auto loan interest rates to a 20- year high, and the average new-car transaction price remains…

The average consumer has saved $141,000 for their retirement and is likely going to live in retirement for 18 years. How will those economics cover a long-term care event?

The future is under no obligation to go along with your clients’ lack of plans and the end of 2022 brings with it some unique opportunities for your clients and for you. 

First, the stock market has fallen since President Joe Biden took office. It is the worst performance of the stock market during the first two years of a presidency since Jimmy Carter's disastrous term in office over 40 years ago. There were no 401 retirement plans when Jimmy Carter was president, so relatively few working-class households were invested in the…

About 40% of workers are planning to push retirement later in life due to inflation, says a recent survey by the Nationwide Retirement Institute. For many retirees, $1 million is the magic savings number for retirement, but Americans are nowhere close to that figure, by and large. According to Vanguard's "How America Saves 2022" report, workers who were between 45 to…

The U.S. job market remains strong, consumer spending is resilient, and inflation has been slowing. Some were dipping more into savings, turning to "buy now, pay later" services that allow payment in installments, or running up their credit cards at a time when the Federal Reserve is hiking rates to cool the U.S. economy. Marcia Hallager works in West Chester, where she…

The 43% jump in U.S. home prices in the past 18 months coupled with the Federal Reserve raising interest rates to combat inflation, means the market is entering a period of intense uncertainty, with plenty of turbulence ahead. The housing market has cooled, and Americans have grown uneasy, according to a market overview by Clever Real Estate.

The FBI and federal prosecutors are accusing a New Albany man of passing himself off as an expert cryptocurrency trader while defrauding investors of at least $10 million. Authorities arrested Rathnakishore Giri, 27, on Nov. 18 after a grand jury indicted him on five counts of wire fraud, according to the U.S. Department of Justice. Giri solicited investments…

What do Elizabeth Holmes, Sam Bankman-Fried and Al Capone have in common? Capone did serve time for tax evasion, and Holmes was recently sentenced to 11 years in prison for defrauding the public through her blood-testing company Theranos. Feeding the hungry went along with that, and his efforts were not unsuccessful, given that many people regarded him as a hero…

Cieplinski was the government's eighth witness in the trial for John Trasacco, a contractor who is alleged to have received $431,982 from West Haven through two companies he controls for goods and services he did not provide to the city. Michael DiMassa has pleaded guilty, admitting to submitting and signing the payment vouchers for fraudulent invoices to…

Tighter Federal Reserve policy is raising households' interest-rate burden, leading to a rapid decline in excess savings and underscoring the likelihood hawkishness has peaked. A combination of a collapse in demand and huge government transfers led to an estimated peak of $2.3 trillion in excess savings being accumulated by the middle of 2021..

Stock markets in the United States and around the world have seen losses of 20% to 30% or more so far this year. The Federal Reserve Bank has been aggressively raising interest rates and tightening monetary policy, inflation has reached 40- year highs and geopolitical risks are elevated. Most bond asset classes have performed negatively this year, as well, as…

NEW ALBANY, Ohio– A New Albany investment manager was arrested and accused of taking part in a cryptocurrency investment fraud scheme. Rathnakishore Giri, 27, of is accused of promising investors that he would "generate lucrative returns with no risk to their principal investment amount, which he guaranteed to return," according to a release by the Department of…

Bloomberg News says the brokerage, which was exposed to FTX, warned investors it could file for bankruptcy if it can't raise fresh cash. Bloomberg News reports that the firm has warned investors that it might file for bankruptcy if it does not quickly find fresh cash. But a spokesperson for Genesis tells TheStreet that the Bloomberg News article is not accurate…

As cryptocurrency exchange FTX falls into bankruptcy and its principals seem likely to face various criminal charges over the activities leading to that bankruptcy, it's time for another round of crowing from opponents of cryptocurrency. That is, older investors in FTX and related enterprises such as trading firm Alameda Research seem to have been paid…

If you receive Social Security, you've probably already heard that your checks in 2023 will be bigger– considerably bigger, in fact. Here's what's happening: For 2023, there's an 8.7 percent cost-of-living adjustment for Social Security benefits– the largest increase in 40 years. Also, the monthly Medicare Part B premiums are declining next year, to $164.90/…