Advisor News

The Securities and Exchange Commission today charged Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC for overcharging more than 10,900 investment advisory accounts more than $26.8 million in advisory fees. Wells Fargo agreed to pay a $35 million civil penalty to settle the SEC's charges. According to the SEC's order,…

Many people build their retirement and estate plans around their children and grandchildren. Everything from where they live, to how they spend their time and money, to the legacy they want to leave behind is considered through the prism of their role as parents and grandparents. For those without kids and grandkids, a different formula may apply as these…

My husband and I are fortunate. We have enough for retirement. A $20 savings on a streaming service provided fleeting euphoria.

My most recent article discussed saving for college and retirement simultaneously. Perhaps you are on the other end of the spectrum, having a child or grandchild that recently graduated from college or trade school and now you hope the young adult will launch effectively. Graduating from college or trade school often marks a time in life when young adults take…

–Schubert Jonckheer& Kolbe LLP is investigating a data breach impacting the personal information of over 2.5 million customers, policy holders, and agents of Genworth Financial, Inc. and its affiliated life insurance companies. According to Genworth, information impacted by the breach included, among other things, customers' names, dates of birth, Social…

A former corrections officer from the Marmora section of Upper Township is accused of organizing two fraud schemes, the U.S. Attorney's Office said Wednesday. DeSalvo was the creator of a cryptocurrency known as "Blazar Token," which he marketed to police, fire personnel, EMTs and other first responders as a "crypto pension," the U.S. Attorney's Office said in a news…

“Longevity as Opportunity – New Conversations on Work, Finances, and Well-Being” revealed how navigating an increasingly complex world while planning for longevity presents considerable challenges and opportunities that change as people move through adulthood.

–Since 2014, the Nationwide Retirement Institute has surveyed Americans annually on their perceptions, concerns and understanding of the U.S. Social Security system. This year's survey marks its 10 th edition and reveals how Americans' attitudes towards Social Security have shifted significantly over the past decade. The 2023 Social Security survey…

Denny Bhakta, 41, was arraigned in federal court on Friday on charges that he fraudulently obtained $4 million in Paycheck Protection Program, or PPP, loans for multiple business entities he managed and controlled. Bhakta allegedly applied for and received 18 PPP loans for four organizations he controlled including Fusion Hotel Management, LLC; Fusion…

However, investors demonstrate more confidence in advice from both generative AI and social media after they’ve vetted that advice with a financial planner.

Three-fourths (75%) of adults age 50 and older worry Social Security will run out of funding in their lifetime, up from 66% in 2014, according to Nationwide Retirement Institute.

A federal judge in California dismissed Friday a securities fraud class action against Wells Fargo& Co. related to its diversity hiring practices. The lawsuit, filed June 28, 2022, alleges the bank and certain executives that include chief executive Charlie Scharf had made false or misleading statements about diversity hiring practices between Feb. 24,…

Someone turning 65 today has a 70% chance of eventually requiring assistance with basic living activities, such as bathing, dressing and using the toilet, according to the U.S. Department of Health and Human Services. Plus, families often don’ t try to figure out how to provide this care until there is a health crisis, which can lead to unnecessary stress, conflicts…

That's well above the Federal Reserve's target of 2%. Christine Benz, director of retirement planning for Morningstar, has offered commentary on how to protect your retirement assets. At the portfolio level, Benz suggests Treasury Inflation-Protected Securities.