Have you ever considered your client’s feelings about money? In the same way that people may have different opinions of movies or music, everyone reacts differently to the money they have (and the money they don’t).
The Securities and Exchange Commission today charged Brent Seaman of Naples, Florida, and various entities he managed for fraudulently raising approximately $35 million from at least 60 investors through an unregistered securities offering. The SEC's complaint alleges that, from approximately June 2019 until September 2022, Seaman told investors he…
U.S. regulators unveiled plans to impose even tighter capital rules on big banks, setting up a battle with the industry over whether the push for financial stability will make the country's lenders less competitive. The measures released Thursday by the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency would…
Two Omaha men were federally indicted last week for their alleged participation in a check fraud scheme involving nearly $290,000 in forged business checks deposited at financial institutions across Nebraska and elsewhere. Federal prosecutors on Friday unsealed an eight-count indictment against Calvin Carter, 20, and Malik Washington, 26, alleging…
Wells Fargo& Co.' s board of directors has chosen to make a major statement with Tuesday's authorization of a new stock-repurchase program worth up to $30 billion. However, they stress it doesn't make amends to shareholders for the $1.97 trillion asset cap limitations established in February 2018 by the Federal Reserve in response to the fraudulent customer…
The financial markets are in their most boring summer days as I write this column. Even news about unemployment and interest rates doesn't seem to rock the stock market. The long-awaited recession appears elusive, and inflation appears to be waning.
The Federal Reserve has pushed interest rates to their highest level in two decades. The Fed is negotiating stubborn, competing deflationary and inflationary forces. Inflationary expectations, however, are hardening— the Conference Board, New York Federal Reserve Bank and University of Michigan surveys of one-year inflation expectations average about…
This year, a near record 61% of Americans say they own stock of some sort, whether individually or through a tax-advantaged retirement account like a 401. Magnifi, an AI investing app, analyzed data from Gallup and the Federal Reserve to illustrate how Americans invest their income across various assets today. Scientists at Gallup and data scientists at the…
Two Omaha men were federally indicted last week for their alleged participation in a check fraud scheme involving nearly $290,000 in forged business checks deposited at financial institutions across Nebraska and elsewhere. Federal prosecutors on Friday unsealed an eight-count indictment against Calvin Carter, 20, and Malik Washington, 26, alleging…
Federal authorities in New York charged British billionaire Joe Lewis with insider trading for allegedly sharing corporate information with people close to him. U.S. Attorney Damian Williams, announced Tuesday that the Southern District of New York had indicted Lewis for "orchestrating a brazen insider-trading scheme" that saw people he shared…
Rising interest rates will drive the story that life insurance companies report during second-quarter earnings season beginning next week — both for the good and, possibly, bad.
Americans say their financial planning needs improvement and that having a financial advisor boosts confidence, yet only 37% work with one according to Northwestern Mutual’s 2023 Planning & Progress Study.
Retiring from the workforce provides opportunities you may have been unable to take advantage of during your working years, including discovering new passions and devoting more time to the people you love. Even though your income might be lower than when you were working full-time, being free of financial burdens like credit card debt or a mortgage may…
The Securities and Exchange Commission issued the following litigation release involving Eliyahu Weinstein, Aryeh L. Bromberg, Joel L. Wittels, Richard M. Curry, Christopher J. Anderson and Alaa Mohamed Hattab:. Along with Weinstein, the SEC charged Aryeh L. Bromberg, Joel L. Wittels, Richard M. Curry, Christopher J. Anderson, and Alaa Mohamed Hattab for their roles in…
The U.S. Attorney for the Eastern District of Michigan, Dawn N. Ison, issued the following news release on July 24, 2023:. Former real estate investor Sean Tissue, also known as " Sean Ryan," was sentenced to 78 months' in prison today arising from his role in perpetrating a $3 million investment and bankruptcy fraud scheme, announced United States Attorney Dawn N. Ison.
An Army Reserve major accused of defrauding two dozen Gold Star families over five years pleaded not guilty Thursday.
Getting rid of debt before retirement is often a good idea. Getting rid of your credit scores? Older people are more likely to have mortgages, car loans, credit card balances and other debt in retirement compared with a generation ago, according to Federal Reserve statistics.
Steven Andiloro, 51, of Mooresville, is facing federal charges in connection with an alleged investment fraud scheme and for fraudulently obtaining more than $2.6 million in COVID-19 relief funds, announced Dena J. King, U.S. Attorney for the Western District of North Carolina. Jason Byrnes, special agent in charge of the United States Secret Service, Charlotte…
One-third of financial advisors don’t have enough time to spend with clients, potentially affecting client relationships, says a recent survey.
Paul Garofoli, regional vice president at the Standard, discusses annuities, estate planning and using “letters from heaven,” which every agent and advisor should incorporate into their practice.
