Advisor News

-Entering the holiday season with high-interest debt or financial struggles can put you at risk for a debt hangover that could linger for years. Credit card balances rose to over $1 trillion in the second quarter of 2023, according to a report by the Federal Reserve Bank of New York. The average rate for credit cards assessed interest as of August 2023 was 22.77%,…

If you choose, there are always plenty of worries to be found in financial news. On the current docket, you could worry about a government shutdown. This possibly could happen in a few weeks unless Congress comes to an agreement.

The U.S. Department of Justice issued the following news release on Nov. 9, 2023:. A federal grand jury in the Eastern District of Texas returned an indictment yesterday charging a Texas couple for operating an illegal pyramid scheme that defrauded thousands of participants of more than $10 million. According to court documents, LaShonda Moore, 35, and Marlon…

Imagine with me, for a couple of minutes, the looming spectacle of Tom Brady in a Florida courtroom, defending his business ties with convicted fraudster Sam Bankman-Fried, the founder of failed cryptocurrency firm FTX:. You know the fraud and conspiracy that Mr. Bankman-Fried was just convicted of? Well, Mr. Brady sold that fraud and conspiracy to investors.”.

CHARLOTTE– Charlotte Hornets' guard LaMelo Ball, his family business, and PUMA are being sued by family friend and former business partner, Alan Foster, over claims of trademark infringement and other acts of fraud. That brand became known as Big Baller Brand, Inc., and Foster, LaVar Ball, and Tina Ball each had 33 percent ownership. Queen City News reached out to PUMA…

Last week, the Federal Reserve did the right thing by leaving well enough alone, keeping the benchmark interest rate at about 5.4 percent. With the acute pressure that the board and Chair Jay Powell in particular have faced in the past several months, we're glad they've had the wisdom to know when to step back. These critics pointed to the 1970 s and the reign of Paul…

Consumers and investors were spared from a 12th rate hike when Federal Reserve officials voted in November to keep their benchmark borrowing rate steady. Don't take the pause as an indication that officials are ready to sound the all-clear on their firefight against inflation. Fed Chair Jerome Powell's main message after the Federal Open Market…

—Three men have filed a lawsuit against the Church of Jesus Christ of Latter-day Saints– also known as the LDS or Mormon church– and its investment arm, Ensign Peak Advisors, Inc. The men, at least one of whom remains an active member of the church, according to the lawsuit, allege that the church had fraudulently induced them into making donations.

Only 19% of women workers are “very” confident that they will be able to fully retire with a comfortable lifestyle, according to 23 Facts About Women’s Retirement Outlook, a survey report released today by nonprofit Transamerica Center for Retirement Studies in collaboration with Transamerica Institute.  

As the Federal Reserve continues to hold on raising rates, you can still get the highest yielding five-year CD yields in more than a decade right now. The Fed's rate decisions indirectly affect CD yields. The recent slow down in rate increases is the main reason why CD APYs between the two- and five-year terms are peaking around now, says Greg McBride, CFA, Bankrate…

The New Jersey Attorney General's Office on Monday announced a state grand jury indicted George Bussanich Sr., 65, of Park Ridge, and George Bussanich Jr., 43, of Upper Saddle River. State prosecutors say both men used a "fix and flip" scheme of homes in Ship Bottom, Manahawkin and Surf City. An investigation was done by the Securities Fraud and Financial Crimes…

–Abacus Life, Inc., a leading buyer of life insurance policies and vertically-integrated alternative asset manager specializing in specialty insurance products, today announced the launch of its new wealth division, ABL Wealth, powered by Dynasty Financial Partners, one of the country’ s leading wealth management platforms for independent wealth…

NEW YORK- Wall Street roared higher again on Thursday with hopes the Federal Reserve may finally be done with its market-rattling hikes to interest rates. More importantly for financial markets, investors also took comments by the Fed's chair to mean that recent jumps in longer-term Treasury yields were acting like rate-hike substitutes and could obviate…

–When you think about net worth, some of the world's wealthiest people may come to mind, like Jeff Bezos or even Oprah. The Federal Reserve released its Survey of Consumer Finances in October, outlining the average net worth of Americans by age– so you can see how you stack up to your peers. According to the Federal Deposit Insurance Corporation, net worth is your…

OMAHA, Neb.- Warren Buffett's company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns- particularly the insurers- generally performed well. Berkshire Hathaway said Saturday that it lost $12.8 billion, or $8,824 per Class A share, in the quarter. That's significantly bigger than the…