Since financial adviser Dean Vagnozzi was charged with fraud in a government lawsuit in July, he has been castigated by regulators for how he steered customers to Par Funding, a Philadelphia lender founded by a twice-convicted felon. With his heavy radio advertising and free steak sales dinners, Vagnozzi, 51, touted alternatives to Wall Street.

In a crisis, long-term planning may lose out to quick and dirty solutions– regardless of the consequences. As the pandemic and its economic fallout continues, more cash-strapped consumers could fall into this trap if the Great Recession is any indicator. A recent report by the Consumer Financial Protection Bureau found that from 2007 through 2010, debt…

Like gauze on a camera lens, a bull market can hide a lot of blemishes in retirement savings plans. If you find yourself stuck with a poor-performing 403 plan, you have a few options, said Scott Dauenhauer, a certified financial planner with Meridian Wealth Management in Murrieta, Calif., and founder of the Teacher's Advocate blog. You might be able to find a low-cost…

Our research suggests that people can respond to persistently low interest rates by delaying Social Security and changing the way they save for retirement. First, low interest rates make it more attractive to delay claiming Social Security, which can be obtained at any age between 62 and 70.. Delaying Social Security involves a trade off: Starting later means…

—When the coronavirus outbreak forced cruise lines to cancel trips to Alaska, it wiped out Midgi Moore’ s tour business, leaving her with thousands of dollars in deposits to refund. So, she withdrew $30,000 from her retirement account— a painful decision for a 56 year old starting to look forward to the day when she can stop working. Owners are trying to keep their…

—Asian shares were mixed Wednesday after another U.S. rally spurred by positive economic data, even while the coronavirus pandemic has regions around the world battling recessions. The U.S. Commerce Department said construction spending in the U.S. edged higher in July, breaking a string of losses due to disruptions caused by the pandemic.

Nearly half (49%) of respondents say their monthly spending has decreased over the course of the last year. Among that group, more than half (53%) say they are spending less because they are worried about the current economic situation and another 26% are spending less because they say their monthly income has decreased.

Pennsylvania financial adviser Dean Vagnozzi warned that a federal judge’s freeze on his bank accounts — ordered in response to the U.S. Securities and Exchange Commission’s lawsuit — threatens to halt the payment of premiums for life-settlement policies packaged as investments for hundreds of his customers.

New joint research from the Money Management Institute and Aon plc, a leading global professional services firm providing a broad range of risk, retirement and health solutions, finds that the most successful financial advisors- those defined as managing more than $500 million in assets- are taking advantage of the digital tools and solutions made available…

Frankfurt and Tokyo advanced while London opened lower and Hong Kong declined. U.S. stocks benefited from Federal Reserve chairman Jerome Powell’ s announcement of a strategy change that could keep interest rates low. In early trading, the FTSE 100 in London lost 0.6% to 5,963.57 while Frankfurt's DAX gained 0.7% to 13,122.16.

Although about 13% of the U.S. population is Black, only about 5% of the advisor population is. A result of this disparity is that a large percentage of this demographic does not have access to the financial guidance they need to close whatever financial gaps they have, build wealth and achieve financial security.

Aug. 25– The coronavirus is deadly, and it's far from over. That may have you thinking about the unthinkable, which raises the question: Do you have a legal, written will? It's important, says Elizabeth R. Carter, professor at the LSU Law Center.

Benchmarks in Shanghai, Tokyo, Hong Kong and South Korea advanced. Global markets have recovered most of this year’ s losses despite rising infection numbers in the United States, Brazil and some other countries. The Shanghai Composite Index rose 02.% to 3,386.86 and the Nikkei 225 in Tokyo added 0.2% to 22,971.98.

As an attorney and wealth manager, I have reviewed hundreds of estate plans, and I have noticed that the plans often need to be updated to reflect the true intentions of the client. On several occasions I have met with clients who are very concerned about making sure that their assets remain in their bloodline and not to a son-in-law or daughter-in-law.

Many advisors, new and seasoned, are looking for a mentor to help guide them into the next step of their career. No matter how much success you’ve achieved, there is always potential to reach the next level in your expertise.

At the end of July, the American Association of Individual Investors announced a four-year low in the Investor Sentiment Survey. This marks a jump in optimism when compared with the end-of-July survey, which ranked among the 40 lowest readings ever recorded by the AAII Sentiment Survey. “Bullish sentiment has been below average since mid-March when the…

—Apple is the first U.S. company to boast a market value of $2 trillion, just two years after it became the first to reach $1 trillion. Apple shares have gained nearly 60% this year as the company overcame the shutdown of factories in China that produce the iPhone and the closure of its retail sales amid the coronavirus pandemic. Saudi Aramco reached a market value of…

Only one in five of the 143 largest statewide public retirement systems in the U.S. are resilient, a new analysis published by the bipartisan nonprofit Equable Institute shows. And five states California, Illinois, New Jersey, Pennsylvania and Texas account for more than 50 percent of unfunded liabilities.

In a two-parent household, both parents must be involved in order for the school-at-home experience to be a success, said Brian and Kelly Haney. Brian Haney founded The Haney Company, a Maryland financial services firm. The biggest mistake many parents make is trying to replicate the classroom setting at home, Kelly said.

Benchmarks fell in Hong Kong, Tokyo and Seoul but rose in Sydney and Shanghai. Investors say it’ s crucial that the support comes, particularly after $600 in weekly unemployment benefits and other stimulus from the U.S. government expired. “The markets are in‘ show me the money' mode, perhaps erring on the side of caution, not holding their breath for an imminent deal in…

The Securities and Exchange Commission today announced that Caroline A. Crenshaw and Hester M. Peirce have been sworn into office as SEC commissioners.

Behavioral economist Dan Ariely and his colleagues at Duke University's Center for Advanced Hindsight have a pact. Every week, the group of 50 people picks one small business in Durham, North Carolina, and each person spends $100 there. A one-time $5,000 infusion wouldn't make a difference to Amazon, Costco or any other large retailer, but it could be enough to…

Interest rates recently hit all-time lows as the Federal Reserve made cuts to mitigate the financial impacts of COVID-19. If you're a homeowner with a monthly mortgage payment, you might be wondering if now is a good time to refinance. While a lower interest rate may yield a more affordable monthly payment, there are other factors to consider.

California's public employee pension dilemma boils down to this: The California Public Employees Retirement System has scarcely two-thirds of the money it needs to pay benefits that state and local governments have promised their workers. Were the earnings assumption dropped to a more realistic level, the system's “unfunded liability”– essentially a…

Boulder, CO, August 11, 2020 – According to a survey of more than 1,100 U.S.-based respondents interested in flexible work,…

Given Biden's current lead in the polls and the real possibility of Democrats gaining control of the Senate, his tax plan may eventually be passed by Congress. The Trump individual tax cuts are set to expire in 2025 unless extended by Congress. Not only is an extension looking doubtful, but the cuts may well be rolled back next year under a Democratic-controlled…

The stock market continues to do quite well. The S&P 500 Index, which has risen four straight months, has returned 5% so far in 2020, despite probably the worst pandemic in the United States in 100 years and one of the sharpest economic contractions since the Great Depression. How does that makes sense?

Most major stock market indices have nearly recovered losses for the year thus far. However, there seems to be more than normal uncertainty on the horizon, too: from a highly anticipated presidential election, the prolonged impact on our economy and society of COVID-19, and geopolitical tensions that seem to keep popping up. Interestingly, over the last few…

Financial pressure is a part of life for most people, and now the COVID19 pandemic has brought new financial pressure points or exacerbated existing ones for many individuals and families. But to navigate those pressures and build a successful financial strategy, you must first identify where the pressures are coming from, says John Smallwood, president of…

–Regimen Wealth, the wealth management firm founded by Ian Weinstein proudly announces that they are now an independent Registered Investment Advisor. “The financial services industry has evolved considerably in the last 20 years,” explained Ian Weinstein, Founder& CEO, Regimen Wealth. I’m never comfortable with a guess, “explains CEO Ian Weinstein.

The Department of Labor is not making comments available on a pair of highly anticipated rules governing the financial services industry.

Tokyo's Nikkei 225 index lost 0.9% after Fitch Ratings downgraded its outlook for Japan to“ negative” from“ stable.”. Market players are awaiting the outcome of a U.S. Federal Reserve policy meeting that began Tuesday. The Nikkei 225 gave up 218.83 points to 22,438.55 while South Korea's Kospi added 0.3% to 2,263.35.

f you're retired and recently saw the value of your invested retirement funds erode, you're probably facing a bad choice: Cut spending until the market recovers, or withdraw your usual amount. The catch on making your usual draw is that you need to sell off more of your invested funds to raise the same amount of money. Even Congress recognizes the danger of selling…

In the wake of COVID-19, some companies have announced plans to allow employees to work from home permanently, freeing people to live anywhere. What does this mean for Mendocino County? Maybe nothing or maybe we'll have an influx of city dwellers ready to escape the rat race.

Lots of people have more time than money nowadays. If you're one– maybe you're taking a staycation or you freed up commuting hours by working from home– optimize that extra time by making smart financial moves that won't cost a dime. “If you have time but no money, it's time to become the best version of yourself,” says Ryan J. Marshall, a financial adviser in Wyckoff, New…