Oct. 7– A federal judge has scolded a convicted stock swindler who complained that authorities should not be allowed to take $150 a month from his prison commissary account to repay thousands of retirees who lost $20 million in penny stock frauds he helped pull off. Brian Ferraioli, the disbarred stock broker from Long Island who complained, was one of about a…
Advisor News
Insurers and reinsurers, with their unique societal role as risk managers, risk carriers and investors, have not been immune from the growing awareness and concerns about climate change. Michael Dunckley, associate director, analytics, said,“ Although insurers currently account for a very small proportion of the total issuance of the ESG bond market, given the…
The U.S. Attorney for the Southern District of New York, Geoffrey S. Berman, issued the following news release:. Geoffrey S. Berman, the United States Attorney for the Southern District of New York, announced that JOHN GERACI pled guilty in Manhattan federal court today to conspiring to commit securities and wire fraud. GERACI eventually liquidated the Meridian…
By beginning to invest in a Roth IRA at an early age, today’s teens can become tomorrow’s millionaires.
Millennium Trust Launches Retirement Savings Selector Tool For Small Businesses
The Retirement Savings Selector Tool for Small Businesses was created in conjunction with Millennium Trust’s Workplace Savings Solutions to help small businesses identify a retirement savings option that may be a fit for their business by answering a few quick and easy questions. “The Retirement Savings Selector Tool for Small Businesses is a completely…
It’s only too easy to overlook several expenses when you sit down to add up what you need for a happy, healthy retirement.
–Triad Advisors, LLC, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. and a leading independent advisory and brokerage firm supporting independent hybrid financial advisory practices and registered investment advisory firms, announced today that it has successfully recruited Mooney Lyons Financial Advisors, a hybrid RIA…
Stocks Crushed Again; TD Ameritrade Eliminates Trade Commissions
The latest wave of selling came after a report showed hiring by U.S. companies slowed more than economists expected last month, with mining and manufacturing particularly weak. It added to worries that shook markets a day earlier, when a reading on U.S. manufacturing showed the sharpest contraction in a decade.
Survey: 31% Of Millennials Might Split Over A Financial Secret
Millennials value financial openness in their relationships, with 31 percent saying they would consider breaking up with their partner if they discovered hidden debt or a bad credit score, according to the fifth annual Love and Money Survey by TD Bank.
Retirement planning isn’t just about saving enough money to last a lifetime. It’s about keeping as much of your nest egg as possible through prudent tax-management strategies.
–AMC BEGIN ABOUT–> Confidence Rises in September Despite Rising Global Political Uncertainty, Impeachment Talk in the U.S. and Concerns Over Climate Change. CHICAGO, IL, USA, October 1, 2019/ EINPresswire.com/– Investors remained focused on continued strong market momentum in September rather than pulling back in response to rising political and economic…
The U.S. Attorney for the Southern District of New York, Geoffrey S. Berman, issued the following news release:. Geoffrey S. Berman, the United States Attorney for the Southern District of New York, and Peter C. Fitzhugh, the Special Agent in Charge of the New York Field Office of Homeland Security Investigations, announced today the unsealing of an Indictment…
Policygenius: One In Five People Think Their Partner Is Bad With Money
“Our new survey findings support the notion that money issues can cause relationship issues,” Hanna Horvath, data analyst and personal finance expert at Policygenius, said. Half of people don’t know their partner’s credit score. One in ten people have a secret credit card One in ten people have hidden a purchase from their partner in the last 6 months 25% of people…
Consumers Not Confident They Can Pay Off Credit Card Debt: Study
Americans’ confidence in their ability to pay their credit card bills continued to decline in September, according to a new report from CompareCards.com, as fewer cardholders manage to pay their statement balances in full at the end of the month.
One In Six Seniors Working Well Past Age 65, Survey Finds
A new study finds that more and more seniors are delaying retirement to work longer. The labor force participation rate for the 65-74 age group alone has increased by nine percentage points, from 18% to 27%, in the past 20 years. For the 75+ group, the labor force participation rate nearly doubled over the same time period.
Investors Slam The Brakes As Trade War Fogs Forecasts
The Trump administration’s trade war with China is largely to blame for stocks’ screeching halt on Wall Street since April, analysts and economists say. The Trump trade war’s drag on Wall Street is a dramatic turnaround for investors, who survived a whip-saw winter that saw the S&P plunge late last year only to recover at the start of this year.
When it comes to planning for retirement, too many people– and financial professionals– are stuck looking backward, said Scott Hall, regional sales director at OneAmerica ®. In a recent“ Ditch the Rear-View Mirror” presentation at NAIFA Performance+ Purpose in Orlando, Florida, Hall encouraged financial professionals to consider how to protect their clients’…
Half Of Seniors Manage Finances Alone, Leaving Them Vulnerable To Scams
As older Americans enjoy the fruits of their labor in their golden years, cognitive decline, fraudsters and even friends and family can put their financial security at risk. Other key findings from the AIG Plan for 100 Elder Financial Abuse Survey include:. “We all want to age with grace, maintain independence for as long as possible, and have the freedom to manage…
“During the first year or two of retirement, it’s a big transition taxwise,” said George W. Smith, a certified public accountant. And SSA-1099s for Social Security benefits. ” This summer, the Internal Revenue Service launched its much-anticipated Tax Withholding Estimator.
Sep. 25– Lori Ann Lewis was doing charity work in downtown Orlando when, by chance, she ran into someone who worked in the gold business. It was in the lobby of the Seacoast Bank skyscraper in 2016, just before the presidential election, when she met Susan Kitzmiller, an employee at U.S. Coin Bullion, a precious metals investment firm. The owners of the company would…
SEC Faces Reg BI Tough Questions At House Committee Hearing
The Securities and Exchange Commission was accused of failing its mission as “Wall Street’s cop” in the first appearance of the full SEC board in Congress since 2007.
–HUB International Limited, a leading global insurance brokerage, announced today that it has acquired the assets of Inter-Mountain Retirement Partners, Inc.. Based in Denver, Colorado and with a second office in Salt Lake City, Utah, MRP provides investment and retirement plan consulting services to corporations, governmental and nonprofit organizations,…
Being Influenced By Recent News Is No. 1 Investing Error: Advisors
Advisors say being easily influenced by recent news, playing it overly safe and seeking information that reinforces established perceptions are the most common behavioral biases that impact their clients’ investing decisions.
In A Monumental Shift, Investors Make Index Funds Top Dog
No more are actively managed funds the kings of Wall Street. Index funds usurped actively managed funds for the first time this week, confirming a major shift in the way people invest. As of Aug. 31, index funds held $4.27 trillion in assets, compared to $4.25 trillion currently in active funds, Morningstar research found.
On Sept. 17, Vanguard filed a brochure for a trial service called Vanguard Digital Advisor, according to a Securities and Exchange Commission filing. “We’ re seeing the commoditization of financial planning tools,” said Adam Holt, founder and CEO of Philadelphia- based Asset-Map.com, which makes software for financial advisors. Financial planners believe this…
Wells Fargo/Gallup: Half Of Investors Strained Helping Family Members
According to the Wells Fargo/ Gallup Investor and Retirement Optimism Index survey, roughly half of U.S. investors, 53%, report they have provided financial assistance, personal assistance or both to adult children or extended family members— not including school tuition. Mary Sumners, regional president of Wells Fargo Advisors’ Northern Region, said,“ It seems…
In a related development, federal authorities in civil and criminal actions announced they charged a Fort Lauderdale lawyer and former outside counsel for 1 Global Capital with aiding a securities fraud scheme that the government alleges defrauded investors in 42 states out of $332 million. Internal documents showed a $50 million cash deficit, the SEC…
Hub International Acquires The Assets Of New York-Based StoneStreet Pearl River LLC
Based in Pearl River, New York, led by Barbara Delaney, StoneStreet is an independent and nationally recognized firm providing retirement plan consulting services to defined benefit, defined contribution and non-qualified plans. Ms. Delaney has been recognized as 2018 and 2019 Barron’ s Top Institutional Consultants and 2019 Financial Times Top 401…
Federal authorities have charged a commodity trading pool operator with mail fraud and with failing to register as an operator in a scheme that took in at least $7 million in investor funds. Leonard J. Cipolla, 71, of Richmond, owned and operated Tate Street Trading Inc. and Tate Street Capital Inc.. In papers filed in U.S. District Court in Richmond, the government…
A Recession Doesn’t Have To Mean A Stock Market Decline
The U.S. economy has experienced 10 recessions since 1950, according to the National Bureau of Economic Research. On average, the market declines 5.3% during an economic recession. The worst drop totaled a loss of -36.4% and the stock market’s best gain totaled +16.6%.
–Following the recent IRS Private Letter Ruling allowing favorable tax treatment of advisory fees from non-qualified annuities, Nationwide Advisory Solutions continues to optimize its retirement income solutions built expressly to fit the way RIAs and fee-based advisors work, launching a new lifetime income rider and two new enhancements to…
Hub International Acquires Assets Of Virginia-Based Washington Financial Group
–Hub International Limited, a leading global insurance brokerage and financial services firm, announced today that it has acquired the assets of Wash Financial, L.L.C., d/b/a Washington Financial Group. Terms of the transaction were not disclosed. Headquartered in McLean, Virginia, led by CEO Joe DeNoyior and President Jeff Hamblen, WFG is a nationally…
On September 12, 2019, Private Advisor Group launched their integrated client portal and financial planning tools, which are powered by eMoney’s industry-leading wealth management technology. More than 650 advisors affiliated with Private Advisor Group have access to a client focused experience, including direct access to client reporting, trade and…
Once you retire, it’s helpful to keep several tax opportunities and tax consequences in mind.
States Sue SEC To Stop Reg Best Interest
Plaintiffs claim that the SEC failed to act on a 2010 Dodd-Frank directive that required it to write rules establishing a fiduciary standard for broker-dealers to replace the suitability standard. The states argue that “Overall, the Final Rule’s best interest obligations fall short of the standard of conduct contemplated by (the) Dodd-Frank Act.”
Survey Finds More Than 70% Of Gen Z And Millennials Fear Looming Recession
–A new survey conducted by eToro, a global trading platform with 11 million registered users, found that more than two-thirds of US investors fear a recession is looming. Survey respondents cited the ongoing trade conflict between the United States and China— as well as challenges with Mexico— as the most prevalent geopolitical factors that will impact their…
Generation Z Wants More Financial Education
Money and finances cause young adults a lot of stress, a survey revealed.
