(Editor’s Note: Part 1 of a 3-part series on required minimum distributions.) By Lloyd Lofton and Gene Bond One of…
Advisor News
Engaging Hispanic Americans during Hispanic Heritage Month
Hispanic Heritage Month is an important time for financial professionals to increase their level of engagement with Hispanic Americans and provide them with the financial services they need to build and protect their wealth.
Lower drug costs for seniors: Medicare will have the right to negotiate prices for prescription drugs for the first time since Congress enacted a prescription drug benefit for seniors in 2003. The bill also includes a $2,000 cap on seniors' Part D out-of-pocket costs, starting in 2025.. The Kaiser Family Foundation estimates that 1.4 million Medicare…
An alleged $110 million Ponzi scheme based in Georgia and New York— but with influence reaching all the way to Mount Airy— took another step toward resolution earlier this month for some of its victims. Oppenheimer& Co., a New York- based brokerage and investment bank, was ordered to pay nearly $37 million in damages to 11 investors who lost money in the scheme,…
Economists predict ‘brief and shallow’ recession
Inflation, rising interest rates and the effects of the pandemic and war in Ukraine are driving forces behind a potential recession.
Attorneys for Forge Consulting, LLC said today that they're preparing to take legal action against disbarred South Carolina attorney Richard "Alex" Murdaugh and Bank of America. In a public statement released Monday, Forge's representatives say this action is in response to the "serious harm Murdaugh and Bank of America have done to the financial firm's…
If you have clients approaching retirement who are unsure of what to do with the wealth their investment properties have generated, here are some considerations that may help as you review their long-term goals and strategy.
Shawn Edward Good pleaded guilty Thursday to wire fraud and money laundering, according to a news release from the U.S. Department of Justice. A complaint filed by the Securities and Exchange Commission in April accused Good of running a decade-long "Ponzi scheme" that resulted in the loss of at least $2 million in investments. "We are cracking down on fraudsters…
The Keystone State's annual figure of $18,577— a total of more than $334,000 over 18 years— falls between Missouri and South Carolina. Washington, D.C., is the most expensive place to raise a child at an annual cost of $28,785— more than $518,000 over an 18- year period. The company used data from several organizations including the U.S. Census Bureau, U.S. Bureau of…
–Kaplan Fox& Kilsheimer LLP is investigating claims on behalf of investors of Kohl’ s Corporation.. On May 20, 2022, according to the complaint, Macellum Advisors GP, LLC, "a long-term holder of nearly 5% of the outstanding common shares of Kohl's," issued a statement addressing "his quarter's extremely disappointing results," which Macellum described as "simply a…
North Miami resident Daniel Cazola successfully hid his ownership of a Fort Myers company on paper. When Myers Professional was registered with the state in March 2021, Jose Antonio Fonseca Gutierrez was listed as president of Myers, which remains an active Florida corporation. Dec. 9, 2021, co-conspirator J.F.G. traveled to Cuba and has not returned to the…
WASHINGTON— U.S. inflation is showing signs of entering a more stubborn phase that will likely require drastic action by the Federal Reserve, a shift that has panicked financial markets and heightens the risks of a recession. Some of the longtime drivers of higher inflation— spiking gas prices, supply chain snarls, soaring used-car prices— are fading.
The advisor’s guide to client risk and insurance
In my experience, tolerance for investment risk and personal risk are going to be different for most people. As an advisor focused on personal risk, I want to help the client think through the things that create anxiety and concern were they actually were to occur.
NEW YORK— The Dow Jones Industrial Average sank more than 1,000 points Tuesday as markets shuddered following Wall Street's realization that inflation isn't slowing as much as hoped. The hotter-than-expected reading has traders bracing for the Federal Reserve to ultimately raise interest rates even higher than expected to combat inflation, with all the…
SAN JUAN, Puerto Rico– Carlos Maldonado, owner of Business Planning Resources International Corporation, Glorimar Fashions and Tailoring, LLC, Global Business Insurance Agency Inc., and associated under the incorporation documents with Pet Card Systems, Inc., and Datavos Corporation, was sentenced today to 11 years and three months in prison for securities…
The Carolina Panthersplayed the Cleveland Browns Sunday afternoon at the Bank of America Stadium in their first game of the season. Anyway, let’ s dive into what else has happened in the Charlotte region lately. Wells Fargo has reached a settlement with the U.S. Department of Labor following an investigation into contributions made to the bank’ s 401 plan.
NEW YORK— Stocks climbed again Monday, as Wall Street made its final moves ahead of a high-stakes report that will hopefully show inflation hammered the economy less hard last month. The nation's punishingly high inflation, and the steps the Federal Reserve is taking to combat it, have been the driving forces on Wall Street all year. That in turn could allow the…
You probably won't see it on your calendar, but September is Life Insurance Awareness Month. And it is indeed important to be aware of the importance of life insurance. About 40 percent of Americans face some type of life insurance gap, either because they're uninsured or underinsured, according to a 2021 survey by the research and advocacy groups LIMRA and Life…
Mortgage rates and home prices are high. Housing prices, of course, vary by market, but on a national level, they have climbed steadily since the 1960 s, according to data from the St. Louis branch of the Federal Reserve. Mortgage rates, which have basically doubled from 2.9% a year ago to 5.89% as of Sept. 8, are a factor, but waiting for rates to drop is a dangerous game.
