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…
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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.
Women gaining ground with their finances, study shows
Women are making financial gains on many fronts and modeling healthy money behaviors, according to a survey from Fidelity Investments.
Branding: Not what you think it is
Branding is a feeling and not a logo, advisors were told at a recent conference.
Study: asset management industry hurt by poor digital experience
A third of financial advisors surveyed are dissatisfied with the digital experience offered by the asset management industry.
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. Â
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…
SMAs top growth among investment products, survey finds
In the past two years, SMAs have experienced more growth than other investment product types, while mutual funds are stagnant, a recent study found.
–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…
Many Americans at crossroads with financial priorities, survey finds
Concerns about the economy, fear of recession, and high levels of debt are causing many Americans to make difficult choices.
Nearly Half of the Sandwich Generation Report a Time They were Unable to Meet Essential Expenses Due to Costs of Caregiving, Finds Special Edition of New York Life Wealth Watch Survey
U.S. adults who are part of the Sandwich Generation, defined as those who care for both children and aging loved ones, are skewing increasingly Millennial and male compared to 2020, according to findings from a special edition of New York Life’ s Wealth Watch survey focused on the Sandwich Generation. However, women caregivers continue to report carrying a…
4 tactics for turning client referrals into introductions
Helping build client confidence can also help build a practice by increasing client referrals.
“A lot of macroeconomic indicators are pointing to a big slowdown in spending,” says Jeff Galak, associate professor of marketing at Carnegie Mellon University’ s Tepper School of Business. Signs include record-high consumer credit card debt— balances reached over $1 trillion in the second quarter of 2023, according to the Federal Reserve Bank of New York— a…
Oct. 30— An Atlanta area man described as a friend of John J. Woods, the former Chattanooga businessman who has pleaded guilty to a wire fraud charge related to a Ponzi scheme, is accused by federal regulators of aiding the alleged activity. (c) 2023 the Chattanooga Times/Free Press. Visit the Chattanooga Times/Free Press at www.timesfreepress.com.
Attorney General Ken Paxton's long-delayed trial on securities fraud charges has been set for April 15. State District Judge Andrea Beall scheduled the trial during a hearing Monday morning in Houston. Dan Patrick presided over that trial and has faced intense criticism for taking $3 million from a pro-Paxton group in the lead-up to the trial.
