With ongoing trade tensions, geopolitical uncertainty, and unpredictable policymaking becoming the new normal, Vanguard expects U.S. growth to decelerate below trend to around 1% in 2020, with the risk of recession still elevated.
Maxine Waters, D- California, chairwoman of the House Financial Services Committee, issued the following news release:. In May, Congresswoman Maxine Waters, Chairwoman of the House Financial Services Committee, convened a full Committee markup of H.R. 2534 and six other bills. H.R. 2534 is supported by institutional investors, state securities regulators,…
–LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced the launch of a no-transaction-fee, exchange-traded fund network where advisors can trade ETFs for free in advisory accounts. By partnering with leading ETF providers State Street Global Advisors, Invesco and WisdomTree, LPL advisors have access…
Review your investment portfolio before the end of the year to see what Long Term Capital Gain Dividend distributions have already hit the account and check to see if there will be any others to come before year end. Careful tax planning like this can save your clients a bundle.
The proposal will impose a uniform fiduciary conduct standard on broker-dealers, agents, investment advisors and investment advisor representatives providing financial advice to any clients in Massachusetts. A public hearing will be held on the proposal next month, officials said Monday, with adoption to follow as soon as Feb. 1.
-John Hancock Retirement and John Hancock Investment Management, companies of Manulife Investment Management, today announced the launch of John Hancock Stable Value Guaranteed Income Fund, a principal stable value option within John Hancock's lineup of retirement investments. “John Hancock Stable Value Guaranteed Income Fund provides an option to…
–Hub International Limited, a leading global insurance brokerage, announced today that it has acquired SilverStone Group, one of the largest insurance brokerages in the U.S. and the largest brokerage in Nebraska. With SilverStone, the company creates a new regional hub to be called Hub Great Plains, which will include and cover existing operations in Omaha,…
Two U.S. presidents have been formally impeached by Congress: Andrew Johnson and Bill Clinton. In addition, two other U.S. presidents have faced formal impeachment inquiries: Richard Nixon and Donald Trump. So far, no U.S. president has been removed from office through the full impeachment process.
The addition of AFA expands Mercer Advisors' presence in Florida to three offices. The AFA acquisition brings Mercer Advisors' total offices to 46 and increases Mercer Advisors' total AUM to nearly $17.5 billion. Mari Adam and her team's focus on delivering comprehensive financial planning and wealth management to their high net worth clientele fits…
With all three major stock market indices reaching record highs in November, wealthy investors moved assets back into stocks, ignoring the ongoing barrage of political and geopolitical risks facing the U.S., according to the December edition of Spectrem’s High Net Worth Insights Journal.
E* TRADE Financial Corporation today announced results from its most recent wave of StreetWise, the E* TRADE quarterly tracking study of experienced investors. “Gen X are major contributors to the economy, making up about one third of today’ s workforce, so the financial well-being of this population is critical,” said Mike Loewengart, VP of Investment Strategy at E*…
To safely make it through potentially decades of retirement, women need to go the extra mile with their preparations.
While 93% of Americans believe it is important to set a plan for their family and their own financial future, 47% of them – nearly half of the entire country – struggle to discuss finances with their loved ones. A new Lincoln Financial Group campaign aims to change that.
College savings plans are a great way to save for education. But not all college savings plans are great. Most state-sponsored 529 college savings plans, which allow you to invest in a tax-advantaged account for future education costs, have improved significantly in recent years, says Madeline Hume, analyst for multi-asset and alternative strategies at…
Consider putting these items on your to-do list with a Dec. 31 due date:. If you need convincing that updating beneficiaries is important, consider the case of David Egelhoff, a Washington state man who died two months after his divorce was final in 1994.. The children sued, and the case went all the way to the U.S. Supreme Court, which ruled in 2001 that the beneficiary…
Think you'll be better off if Congress outlaws your private health coverage and puts you on a new government-run health plan called “Medicare for All”? Over half of House Democrats and 14 senators, including Elizabeth Warren and Bernie Sanders, say you will. Health care experts Ed Haislmaier and Jamie Hall, however, took a hard look at this claim in a new Heritage…
PARK RIDGE, Ill. (Nov. 20, 2019) — With news of the yield curve inversion and the presence of additional economic…
As more consumers seek advice on how to pick the right Medicare health plan and incorporate those health care expenses into their retirement plans, the distinction between Medicare advisors and financial advisors will continue to blur.
–A major research study from BNY Mellon Investment Management, one of the largest asset managers in the world with $1.9 trillion in AUM as of September 30, 2019 1, revealed millennials have a greater level of understanding over their older cohorts regarding the role fixed income plays in retirement planning and how the asset class responds to market cycles.
–The Financial Health Network, the nation’ s authority on financial health, in partnership with Flourish, MetLife Foundation, and AARP, today released the U.S. Financial Health Pulse 2019 Trends Report. Now in its second year, this year-over-year analysis of peoples’ financial health found that despite a strong economy, only 29% of people in the U.S. are financially…
Working efficiently has become more important. To work efficiently, advisors must set priorities and delegate responsibilities that take away from their core activities.
LOS ANGELES, Nov. 14, 2019/ PRNewswire/– Only 12 percent of women workers are “very” confident that they will be able to fully retire with a comfortable lifestyle, according to 19 Facts About Women’s Retirement Outlook, a new study released today by nonprofit Transamerica Center for Retirement Studies ®. Despite this progress, women continue to be at greater risk…
U.S. Attorney for the Northern District of Georgia, Byung J. Pak, issued the following news release:. Marc Celello, a former state securities enforcement attorney and General Counsel for a Georgia investment company, has pleaded guilty to conspiring to defraud investors out of over $40 million. According to U.S. Attorney Pak, the charges, and other information…
Changes are to the Social Security Administration pension program are an annual event and 2020 is no different. Some changes are due to formulas, while others are part of the legislative framework underpinning Social Security. Here are six changes on the books for 2020.
Learn about your client’s personality quickly and adapt to the way they want to have information presented to them. Client personalities typically fall into four distinct categories: the driver, the intellect, the feeler and the amiable.
MILWAUKEE, Nov. 13, 2019 /PRNewswire/ — A new release of findings from Northwestern Mutual’s C.A.R.E. (Costs, Accountabilities, Realities, Expectations) Study…
Hank Hurst and Jaret Rice enjoy digesting bland tax data and spitting out tasty returns for their clients. The partners at The Hurst Company, Certified Public Accountants and Advisors have compiled a presentation about the new federal tax laws, what they’ve learned and how they’ve responded. They ran through the presentation last week at their office at the…
The Protected Lifetime Income Index study, a recent survey of 3,119 adults by the Alliance for Lifetime Income, shows that a mere 28% of non-retired Americans have made an effort to determine their likely monthly income needs in retirement —perhaps the single most important thing people should be planning for.
WASHINGTON, D.C. (Nov. 11, 2019) – Fifty-one insurance and financial services professionals, one representing each state and the District of…
President Emmanuel Macron’s visit to China this week suggests that the United States risks being sidelined on the global stage under President Donald Trump. Just as the Trump administration formally launched the process of pulling out of the 2015 Paris climate agreement, France and China issued a ” Beijing call” on Wednesday for increased global cooperation…
–A new survey from Wilmington Trust, in collaboration with experts from its parent company M&T Bank, finds that a clear majority of owners of privately held businesses are unprepared to transition or sell their business, even as Baby Boomers retire and hundreds of thousands of businesses come to market over the next decade. The quarterly survey, Wilmington…
Lincoln Financial Group today reported a net loss for the third quarter of 2019 of $161 million, or$ per diluted share available to common stockholders, compared to net income in the third quarter of 2018 of $490 million, or $2.24 per diluted share available to common stockholders. “Appropriate adjustments to our assumptions, including interest rates, as part of…
Less than three months after receiving an IRS Private Letter Ruling that eases the taxation of advisory fees, Great American Life ® released a new endorsement that goes one step further to simplify the payment of advisory fees from an annuity. Plus, clients had to consider how the withdrawal would affect their annuity benefits,” says Tony Compton, Great…
–It won’t come as a surprise that business owners view 401 s as advantageous both for their business and their employees. And with the Bureau of Labor Statistics reporting 71 percent of all U.S. workers have access to retirement benefits, offering a 401 to employees has become necessary in order to competitively attract and retain talent in today’s strong,…
AMARILLO– If 69- year-old Lynda Sue Costley wants to shower, she has to go to a friend’s house. Her trailer, on a gravelly road outside Amarillo, hasn’t had running water since 2014– when her husband died from cancer. But every month, she receives a letter in the mail saying the federal government is withholding $134 from her Social Security checks– the equivalent of 18…
–LPL Financial Holdings Inc. today announced results for its third quarter ended September 30, 2019, reporting net income of $132 million, or $1.57 per share. We also closed our acquisition of Allen& Company, and are excited that their advisors have joined our team. We invested for organic growth across recruiting and technology, completed the acquisition of…
Americans have been riding a wave of record high levels of personal financial satisfaction for the last two and a half years. However, decreases in job openings against the backdrop of a recent decline in corporate optimism in the U.S. economy have pushed the AICPA’ s Q3 2019 Personal Financial Satisfaction Index down slightly.
