Thinking about paying off your mortgage before retirement? It's a common emotional consideration among investors who believe they'll sleep better at night without their most substantial debt hanging over their heads— figuratively and literally! With cash-equivalent investments like money market accounts, Treasury bills, and certificates of deposit…
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Committee lists policy priorities as ERISA marks 50 years
At the top of the list is implementing transparency, accountability and affordability in health care markets.
The number of new advisors barely offsets trainee failures and retirements, emphasizing the critical need for the industry to attract and retain talent, Cerulli reports.
JPMorgan Chase said Friday that its profits dropped 15% in the fourth quarter, despite the bank reporting record quarterly revenue. With that aside, JPMorgan brought in an eyeball-popping $50 billion in profits last year, up from $37.6 billion in profits in 2022. "The U.S. economy continues to be resilient, with consumers still spending, and markets currently…
Need for financial advice drives more secondary accounts to wealth management firms
In their search for financial advice, more Americans are shifting deposits from traditional banks to financial firms.
With inflation down, interest rates likely to ease and a recession still elusive, the economic backdrop has improved heading into the new year. Both stock and bond investors have counted some gains of late, while savers are earning higher yields on deposit accounts. When the Federal Reserve started to push up interest rates to curtail inflation a couple of years…
A 2020 study for the Federal Reserve Bank of Chicago found income for survivors dropped an average of 37% in the three years after a spouse's death compared with the three years prior. You may have to figure out how to get by without your spouse's paycheck or, if you were both receiving Social Security, how to live on a smaller benefit. If you have minor children, you…
Your retirement could last 20 years or more. Now could be the time to ask yourself, "What do I want to do when I retire?" It's an important question to ask sooner rather than later, as the answer could impact your retirement savings plans, so that you can align the retirement you want with the retirement you can afford.
Harry M. Ford Jr., whose career as a leading Legg Mason stockbroker and investment adviser spanned nearly six decades, died Dec. 9 at Blakehurst, a retirement community in West Towson. He was just a nice guy and a great human being,” said Raymond A.“ Chip” Mason, former Legg Mason chairman and CEO. •News Obituaries| Ira Brownold‘ Bill’ Fader Jr., proprietor of Baltimore tobacco…
MDRT advisors share 2024 advice
As we enter a new calendar year, it is time to reflect on past accomplishments and look forward to what can be achieved in the next 12 months.
BlackRock is buying independent infrastructure fund manager Global Infrastructure Partners in a cash-and-stock deal valued at more than $12 billion. “Infrastructure is one of the most exciting long-term investment opportunities, as a number of structural shifts re-shape the global economy, "said BlackRock Chairman and CEO Larry Fink in a prepared…
When you plan to retire at a certain age, you can follow a strategy that incorporates your investment moves, your health insurance and other factors. But what happens if you're forced to retire earlier than you anticipated? About 40% of Americans say they have been forced into retirement, according to a recent survey from Edward Jones and Morning Consult, a…
Social Security is one of the most important income sources for American seniors. According to a recent poll, more than 70% of retirees rely heavily on SS and 40% of the group rely entirely on their benefits. Today, we will be discussing the retirement benefits of Social Security.
Two critical phases stand out in the financial planning journey: retirement and estate planning. Each addresses distinct financial well-being and legacy aspects, yet they intertwine to form a comprehensive approach to securing one's financial future. *Understanding income sources: Retirement income can come from several sources, such as pensions, Social…
Available to Certified Financial Planners nationwide, the virtual platform streamlines business administration so advisors can better support clients and diversify their impact, all while retaining full ownership of their firm.
New DOL rule could undermine financial advisors’ independent contractor status
The DOL’s new rule to determine if a worker is an employee or independent contractor could undermine advisor’s independent contractor status.
A Moreno Valley man has pleaded guilty to a federal charge after authorities say he ran a two-decade-long Ponzi scheme that defrauded more $24 million from at least 200 investors. Paul Horton Smith Sr., 59, pleaded guilty on Monday, Jan. 8, to one count of wire fraud, the U.S Attorney "s Office said. From July 2000 to May 2020, Smith operated Riverside companies named…
Helping clients discover their executor
How to help clients evaluate suitable candidates and select the best executor.
3 trends in aging to watch in 2024
An aging population faces a patchwork of care options, making the need for planning crucial.
5 key takeaways to avoid off-channel communications penalties in 2024
With regulators expected to continue cracking down on off-channel communication in 2024, these five key steps will help avoid penalties.
