Ed. Note: This article first appeared in CNBC After the recent failure of the Republican health-care bill, President Trump should be looking for an issue that he can “get across the finish line,” former House majority leader Eric Cantor told CNBC on Friday. He thinks that could be infrastructure, which the president has already pledged to
Ed. Note: This article first appeared in CNBC Credit Suisse is conducting an internal investigation over whether staff breached compliance rules after three of its offices were searched in tax evasion probes, the head of its International Wealth Management division said on Friday. “The investigation will be executed by compliance, it will not be executed by the
Ed. Note: This article first appeared in BNA The DOL is fighting back against the U.S. Chamber of Commerce’s bid to have the fiduciary rule paused by an appeals court ( Chamber of Commerce v. U.S. Dep’t of Labor , 5th Cir., No. 17-10238, response to emergency injunction motion filed 3/29/17 ). The department has “broad authority to classify
Commentary on International Advisor article by Monira Matin Fund giants BlackRock and Vanguard have called for a delay to the Department of Labor’s fiduciary rule, International Advisor writes. Unrealistic Timeline Could Cause Investor Confusion, Execs Say Following a February order by President Donald Trump to review the rule, the Labor Department has proposed delaying next
Lower cost might help drive doctors' choice, researchers say
Ed. Note: This article first appeared in Reuters Four Democrats on the Senate Banking Committee have called for an investigation into whether the acting chairman of the U.S. SEC exceeded his authority by taking steps to scale back or delay rules required by the 2010 Dodd-Frank law. In a letter to the SEC’s internal watchdog, Inspector
Ed. Note: This article first appeared in Bloomberg The bachelor’s degree — long a ticket to middle-class comfort — is losing its luster in the U.S. job market. Wages for college graduates across many majors have fallen since the 2007-09 recession, according to an unpublished analysis by the Georgetown University Center on Education and the Workforce in Washington
Ed. Note: This article first appeared in Bloomberg California’s taking advantage of investors’ taste for tobacco. Tobacco bonds are returning 10 percent this year, over seven times that of the municipal market as a whole, as buyers itching for yield pick up the securities and drive prices higher. California on Thursday plans to sell $619
Ed. Note: This article first appeared in Bloomberg The Treasury market’s bulls and bears are ending the quarter in a virtual stalemate, a sign of skepticism toward the economic outlook that belies the near-record levels in U.S. stocks. Treasuries have gained about 0.7 percent this year, stabilizing after the biggest quarterly loss since the 1980s.
Ed. Note: This article first appeared in Bloomberg The first quarter is ending, and the tally is in: emerging markets are winning hands down. Developing-market equities have handed investors a 12.4 percent return this year, twice that of developed stocks, for their best start to a year since 2012. A gauge of local-currency emerging-nation bonds
Ed. Note: This article first appeared in Reuters Bank of America’s Merrill Lynch cut its number of national business divisions to six from 10 and changed some of the executives leading those units. This is as part of a broader leadership restructuring, according to a memo sent to employees on Wednesday. The head of Merrill Lynch
Ed. Note: This article first appeared in Bloomberg Legg Mason is cutting about 30 jobs, or 3 percent of its administrative staff, to respond to the money-management industry’s shift toward lower-fee investing. “Legg Mason is refocusing its resources in response to the disruption affecting the asset-management industry,” Mary Athridge, a spokeswoman for the Baltimore-based firm, said Wednesday
Ed. Note: This article first appeared in Forbes Where would you like to grow older? If you’re open to suggestions, I recommend reviewing the new Best Cities for Successful Aging rankings from the Milken Institute Center for the Future of Aging. (Spoiler alert: This year’s No. 1 big and small cities are the college “towns”
Ed. Note: This article first appeared in Fortune BlackRock on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market. The world’s biggest money manager has faced
Ed. Note: This article first appeared in Bloomberg The chorus of strategists and investors rooting for European stocks over their United States peers is getting stronger. While U.S. equities led the reflation rally that began in November, those seeking sanctuary from lofty stock valuations are gravitating toward Europe for cheaper bargains as the trade matures.
Commentary on the New York Times article by Landon Thomas Jr. In a move seen as a reaction to the increasing popularity of passive investing, BlackRock is consolidating several actively managed funds with ones driven by algorithms and big data, the New York Times writes. Fink Sides with the Machines The move will affect about 11% of
Ed. Note: This article first appeared in Financial Times The difference between quantifiable data and reports based on sentiment has never been so wide, prompting a sharp divergence in expectations for first-quarter US economic growth, according to an analysis by Morgan Stanley. Following the election, numerous survey-based economic gauges have surged amid expectations that President
Ed. Note: This article first appeared in Politico After the ugly collapse of the Republican push to repeal Obamacare, Senate Minority Leader Chuck Schumer called for bipartisan cooperation to improve the law. “We never said it was perfect,” he said. House Minority Leader Nancy Pelosi also said Democrats are open to working with President Donald
Ed. Note: This article first appeared in Insurance News Net The long-suffering variable annuity market is going to get worse before it gets better, a product expert with Morningstar said last week. From new regulations issued by the DOL to investment restrictions in subaccounts to stingier guarantees, variable annuity sales are not expected to pick
Ed. Note: This article first appeared in Bloomberg BlackRock, after years of sluggish gains by its traditional stock pickers, is upping its bets on quants. The world’s largest money manager is firing more than 30 people in its active-equities group, including five of its 53 fundamental portfolio managers, according to a person familiar with the
Ed. Note: This article first appeared in Bloomberg Nancy Harvey has a goal. “I’d like to retire before dying,” she said. Harvey, 55, has almost nothing saved for retirement. She is a child-care provider in Oakland, Calif., and there isn’t much left over at the end of the month. “It’s not a lucrative field,” she said.
Ed. Note: This article first appeared in Fortune President Donald Trump repeatedly singled out the AT&T deal to buy Time Warner during the campaign as the kind of combination he wouldn’t allow as president. But after the Trump administration this week picked a longtime antitrust lawyer, Makan Delrahim, to head the Justice Department office that
Ed. Note: This article first appeared in Bloomberg Wells Fargo engaged in an “extensive and pervasive pattern” of discriminatory and illegal lending practices for years, a U.S. regulator said in slashing a key rating of how the bank serves communities, triggering restrictions that may hamper its growth. While examiners credited Wells Fargo for “excellent responsiveness” in
Ed. Note: This article first appeared in Bloomberg Mohamed El-Erian, Allianz SE’s chief economic adviser, said the slow but steady economic expansion of the post-financial crisis era could be at risk if elected leaders are unable to take the reins from monetary policy makers in stimulating further growth with structural reforms. “If we do not
Ed. Note: This article first appeared in USAToday The large majority of millennial parents plan to cover at least part of their children’s higher education, despite still owing thousands of dollars in student debt themselves. The reason, said TD Ameritrade senior manager of retirement Dara Luber: The lingering student debt is a “pain point” for millennial
Ed. Note: This article first appeared in CNBC Greenlight Capital’s David Einhorn said Tuesday that President Donald Trump’s focus on job creation and other economic factors are positive for personal income. “If you have high levels of personal income, I think you’re going to wind up with high levels of demand for new cars and,
Ed. Note: This article first appeared in The Street Goldman Sachs alumni may occupy a number of high profile jobs in President Donald Trump’s young administration, but that doesn’t mean the Wall Street firm can orchestrate a de facto takeover, says Anthony Scaramucci, a former employee of the investment bank who advises the new president. The notion
Ed. Note: This report first released by Business Wire United Capital Financial Advisers has just reached $3 billion in assets under contract, $2 billion more than their year target, signed with its FinLife Partners division in less than one year. Last April, United Capital launched FinLife, a fully integrated wealth management operating system. Independent advisers are able to
Ed. Note: This article first appeared in International Adviser The US SEC implemented an emergency asset freeze and temporary restraining order against an investment adviser and his financial management company accused of scamming elderly investors out of millions. The SEC alleges that Daniel Glick and his unregistered Chicago-based investment advisory firm, Financial Management Strategies (FMS),
Ed. Note: This article first appeared in Yahoo This tax season, millions of Americans are supposed to pay a penalty if they don not have health insurance. At least, that’s what the Affordable Care Act requires. As the April filing deadline approaches, however, Americans have reasons to think they might get away with not paying what they owe.
Ed. Note: This article first appeared in Bloomberg For years, President Donald Trump has repeatedly said the Affordable Care Act is on the verge of collapse. As he puts it last week, the health care law is “exploding.” Is Obamacare really about to fall apart? The short answer is no — there are areas of
Ed. Note: This article first appeared in Bloomberg Maybe you’ve been riding that bull for eight years and feel like it might be getting tired. Maybe you’re getting a little jumpy yourself, with all that money in stocks and now the Trump-rally turbulence. You could use this slightly queasy moment to improve your finances without getting
Ed. Note: This article first appeared in Bloomberg The U.S. Supreme Court agreed to use a case stemming from a New York City contract fraud to clarify investors’ ability to sue companies for omitting information from shareholder reports. The justices said Monday they will hear an appeal from government contractor Leidos Inc. in a case
Ed. Note: This article first appeared in Benefits Pro Some advisors see robo-advisors as a competing force. At the NAPA 401(k) Summit, you might expect some hostility to the concept. The market for algorithm-based, non-human decision-making robo-advisors is expected to grow. Business Insider’s research service, BI Intelligence, forecasts that by 2020, robo-advisors will manage $8 trillion
Ed. Note: This article first appeared in Bloomberg The $362,700 Rolls-Royce Wraith Black Badge costs $47,000 more than the standard Rolls-Royce Wraith. Which is a lot to pay additionally for virtually the same model. The $362,700 Rolls-Royce Wraith Black Badge costs $47,000 more than the standard Rolls-Royce Wraith. Photographer: Evan Ortiz/Bloomberg Here is what you get
Ed. Note: This article first appeared in Market Watch Imagine your spouse is ill, and you meet with an estate planning attorney to get your family affairs in order. Your attorney drafts a trust document and a will. You and your spouse sign it. You think everything is fine. Your spouse passes, and shortly after
Older homeowners have financial worries, but most do not see their home equity as a tool for greater retirement security, according to new NCOA research.
Most older homeowners do not see tapping their home equity as a strategy for creating greater retirement security, according to new research from NCOA.
The Labor Department has reopened its official feedback channels to see what the industry has to say about delaying or entirely rescinding its controversial standard on retirement advice. The industry isn’t exactly shy. The first 1,105 comments have now been posted to the DOL site and as yet the agency has yet to load anything dated beyond
Ed. Note: This article first appeared in Investor’s Business Daily Taking market share is how businesses grow. But a financial advisor should never take over just part of a client’s portfolio from another advisor, warns Joe Clark, managing partner of the Financial Enhancement Group in Indianapolis. The reason: It leaves the losing advisor angry and scared. “They’re
One of the legendary fortunes just moved one generation farther from the source. The next few years will determine whether dynastic planning has hit its ultimate limit or truly run forever. The Rockefeller family helped write the book on long-term estate planning eight decades ago. Now we’ll see how the latest chapters build on the
The Trust Advisor team will be in Dallas about a month from now to gather news and meet readers at this year’s Envestnet Advisor Summit. If you’ve ever harbored the urge to talk to us, now’s the time. Of course the real draw here is the professional education — this is one of the most
Ed. Note: This article first appeared in Forbes One of the pieces of Donald Trump’s campaign platform that attracted a lot of attention was his pledge to repeal the federal estate tax. Or, as he calls it, “the death tax.” Now that he is President Trump, what does it mean to us if he does
Ed. Note: This article first appeared in PRN T. Rowe Price’s 2017 Parents, Kids & Money Survey, which sampled 1,014 parents of 8 to 14 year olds nationally and their kids, analyzed parent attitudes and behaviors that were associated with kids’ financial habits. The survey found that positive money behaviors and expectations among kids are
Ed. Note: This article first appeared in Bloomberg U.S. Treasury Secretary Steven Mnuchin said the White House is committed to a tax overhaul that includes corporate and individual tax cuts, while acknowledging it may be a challenge to get it completed by August. “We’re going to do tax reform as absolute — we are reforming
Ed. Note: This article first appeared in Advisor Hub A FINRA arbitration panel has ordered barred financial advisor Dawn Bennett to pay an investor more than $1 million for unsuitably recommending the SPDR Gold Shares exchange traded fund, according to an award document posted on Wednesday. Dawn Bennett Bennett, her registered investment advisory firm, Bennett
Ed. Note: This article first appeared in ZDNet Cybercriminals are taking advantage of the rising price and popularity of Bitcoin to try to steal the currency and distribute malware. The cryptocurrency has become invaluable to cybercriminals who exploit its anonymous, decentralised nature as a tool for demanding ransomware payments and laundering various other ill-gotten gains.
Ed. Note: This article first appeared in Record Online Creating an estate plan is not the end of the estate plan. Over the years, your goals and desires may change. Family dynamics, finances and even the law may change. It is recommended that you review your estate plan about every three years to make sure
Ed. Note: This article first appeared in CNBC Obamacare giveth health-care jobs — but the pending Republican repeal and replacement bill could taketh a whole lot of those gigs away. About 500,000 of the jobs added to the health-care sector since 2012 were the result of Obamacare significantly increasing the number of Americans with insurance
Ed. Note: This article first appeared in CNBC Jay Clayton, the Wall Street attorney tapped by President Donald Trump to lead the SEC, on Thursday defended himself against charges from Democrats that he had multiple conflicts of interest that would cause him to miss too many SEC votes. Clayton, a partner at elite commercial law
Ed. Note: This article first appeared in Benzinga Advisors spend so much time with their clients that they often miss out on opportunities to improve their practice as a business, says Truelytics CEO Terry Mullen. “I’ve been working with financial advisors for over 30 years,” said Mullen, who’s held senior roles at firms like AIG
Ed. Note: This article first appeared in Bloomberg They were called public enemies. They were strung up in effigy during protests in London and New York. Their behavior spurred an outcry that changed the politics of the West. Bankers on both sides of the Atlantic were blasted for the sins that triggered the financial crash
Ed. Note: This article first appeared in Vanity Fair Last Friday, President Trump got some great news: in February the U.S. added over 235,000 jobs. The U.S. had added basically the same number of jobs in February the year before, and the year before that—a point National Economic Council director Gary Cohn conceded when he forgot to
Ed. Note: This article first appeared in Forbes The dogged persistence Honda has shown in its decades-long quest to perfect hydrogen as a zero-emission replacement for gasoline can be seen as quixotic or futile. But the quirky company that makes motorcycles, lawnmowers, jets, humanoid robots, boat engines and a few million cars soldiers on, along
Commentary on InvestmentNews article by Liz Skinner The idea of getting prospects come to them through their websites is enticing for most financial advisors, but it can take years of trial and error before they see any traction, InvestmentNews writes. Nonetheless, if done correctly, digital marketing can yield real results, according to the publication. Building
Ed. Note: This article first appeared in Politico Defending his controversial statements on wiretapping, voter fraud and other issues in an extensive interview with Time magazine, Trump said he has ultimately been proven right time and time again. “I’m a very instinctual person, but my instinct turns out to be right,” Trump told Time’s Washington bureau
Ed. Note: This article first appeared in MarketWatch President Donald Trump’s dreams of a “very big tax cut” don’t appear imminent, even if the House of Representatives approves the Republican health bill this week. And they appear far less so if the bill bogs down. Here’s the political landscape as of Wednesday: the House is
Commentary on MarketWatch article by Alessandra Malito Financial advisors use a variety of software to assist with tasks ranging from keeping in touch with their clients to staying compliant with new regulations, MarketWatch writes. Some of these tools have become indispensable, yet there’s even more on the horizon, according to the publication. The Essentials: CRM,
Ed. Note: This article first appeared in Bloomberg Some of the world’s biggest companies are readying their balance sheets for tax-law overhauls before a single bill has been introduced in Congress, trades that can net them millions of dollars in savings if rules are reworked. Behemoths like Verizon Communications and Time Warner are buying back bonds they
Ed. Note: This article first appeared in Bloomberg Most staple removers fit in the palm of your hand. This one would fill your living room and uses robotics and artificial intelligence. Ripcord, a startup backed with a $9.5 million funding round led by Kleiner Perkins Caufield & Byers, has created a machine its founders think
Ed. Note: This article first appeared in Bloomberg The only thing better than getting rich slow is getting rich quick. That bit of truism is all you need to understand the rapid rise in leveraged exchange-traded funds, which were created in 2006 as a way for investors to double their exposure to stock indices. More
Ed. Note: This article first appeared in Reuters Global stock markets this week suffered their biggest shakeout since November’s United States election amid growing disappointment at President Donald Trump’s failure to deliver more details on promised tax cuts, infrastructure spending and financial deregulation. The trigger appears to have been the new administration’s struggle to get
Ed. Note: This article first appeared in Politico More than one Trump nominee has vowed, at Senate confirmation, to “speak truth to power.” Labor secretary nominee Alexander Acosta, notably, did not. Acosta told the Health, Education, Labor, and Pensions Committee on Wednesday that Cabinet members “work for the president, and we will all ultimately follow
Ed. Note: This article first appeared in USA Today Fifty-eight tech companies signed on to a friend-of-the-court legal brief filed early Wednesday morning in response to a suit filed by the state of Hawaii asking for a restraining order against President Trump’s second attempt at a temporary travel ban targeting majority-Muslim countries. The revised executive order was
Ed. Note: This article first appeared in CNN Legendary investor John Bogle, founder and former chairman of the Vanguard Group, gave his verdict on the state of the markets Saturday, urging Americans to put their faith in “economics” rather than “emotions.” Asked by CNN’s Michael Smerconish about why the disconnect exists between today’s strong markets
Ed. Note: This article first appeared in Business Insider John Mauldin says the economic world is a series of weak links, any one of which could break at any time. Whenever it does, central banks and governments will have to respond in ways never before seen. To get out of this jam, we’ll have to think
Ed. Note: This article first appeared in Market Realist On March 15, 2017, the Fed announced its much-awaited interest rate hike—the first rate increase on 2017, and the third rate hike in a decade. The FOMC (Federal Open Market Committee) hiked the federal funds rate by 0.25% on March 15, bringing the rate up to the
Ed. Note: This article first appeared in Credit Union Times The judge overseeing the lawsuit filed by nine plaintiffs in Texas against the DOL’s fiduciary rule denied an emergency request by the groups to stop the rule from taking effect while they take their case to the U.S. Court of Appeals for the Fifth Circuit. Judge Barbara
Ed. Note: This article first appeared in Politico Former Homeland Security Sec. Jeh Johnson said that he believes President Trump “has the potential to be a great president,” and suggested that the Trump administration’s issuance of an emergency order banning passengers from carrying larger electronic devices on certain flights from the Middle East and North Africa
Ed. Note: This article first appeared in Bloomberg Donald Trump and House Speaker Paul Ryan are working to win over conservative rebels who stand in the way of passing an Obamacare repeal measure, but the group said it is still largely opposed. “There are still concerns with the bill,” Mark Meadows, the chairman of the
Ed. Note: This article first appeared in The Hill Senator Elizabeth Warren is questioning President Trump’s pick to lead the Labor Department ahead of a key hearing on the nomination. Elizabeth Warren is asking Alex Acosta in a 23-page letter to weigh in on myriad policies including if he believes the president should “fully divest” from the
Ed. Note: This article first appeared in The National Law Journal President Trump’s nominee to be secretary of the Labor Department, Alexander Acosta, said that he’d follow Trump’s February 3 executive order directing the agency to review its fiduciary rule. Noting the Labor Department’s current proposal to delay for 60 days the effective date of the fiduciary rule
Ed. Note: This article first appeared in Bloomberg ETF investors are staying hot on platinum, even as money managers get cold feet on the metal. Holdings in platinum-backed ETFs posted a sixth straight weekly gain on Friday, the longest stretch since November. That came after U.S. money managers cut their net-long position in the metal by more
Ed. Note: This article first appeared in Fortune The race to deploy autonomous vehicles will not mean much if cities are unprepared for the technology. Fleets of self-driving cars could actually make traffic congestion and pollution worse if cities don’t have a plan in place for this emerging technology. And places like San Francisco—a center of
Ed. Note: This article first appeared in The Hill Former ExxonMobil CEO, Rex Tillerson, said the job of secretary of State was not a role he sought out. “I didn’t want this job. I didn’t seek this job,” Tillerson told the Independent Journal Review in an interview during his recent Asia trip. When asked why he agreed to take on the
Ed. Note: This article first appeared in MarketWatch A glitch snarled closing trading in dozens of exchange-traded funds late Monday at the New York Stock Exchange’s Arca platform, in one of the largest trading snafus of 2017. ETFs with market values exceeding $150 billion were affected, including SPDR Gold Trust, the largest gold ETF, according
Ed. Note: This article first appeared in Bloomberg Setting a retirement savings goal can feel like a crap shoot. How can you calculate your expenses, especially for health care, five, 10, 50 years from now? If you have punted, you have company. Only 41 percent of workers have even tried to figure out how much
Ed. Note: This article first appeared in Forbes In December, Yahoo reported that 1 billion accounts were hacked in 2013. Those email accounts contained personal details, email exchanges and financial information – and people were not aware of the issue for years. Yahoo’s problems are not unique: Hacking and identity theft are a growing danger,
Ed. Note: This article first appeared in Bloomberg President Trump warned House Republicans in a closed-door meeting that many of them may lose their seats in the 2018 elections if they don’t pass their bill to repeal and replace Obamacare. The president’s message came a day after GOP leaders made several changes to their measure aimed at
Ed. Note: This article first appeared in The Guardian Financial markets seem convinced that the recent surge in business and consumer confidence in the US economy will soon be reflected in “hard” data, such as GDP growth, business investment, consumption, and wages. But economists and policymakers are not so sure. Whether their doubts are vindicated
Ed. Note: This article first appeared in The Motley Fool These days, you simply have to sign up for a self-directed brokerage on any internet-capable device. You’ll have direct access to a variety of equity, fixed-income, and derivative instruments at a fraction of the cost of a human broker. But for those who simply don’t have time
Ed. Note: This article first appeared in Bloomberg Federal Reserve officials say United States commercial real estate is expensive. That is not stopping the world’s biggest money manager from saying it’s time to buy. BlackRock says property can deliver average yields of 3.5 percent, compared with 3.4 percent for U.S. investment-grade bonds and the S&P
Ed. Note: This article first appeared in Bloomberg Wells Fargo said credit-card applications dropped 55 percent in February from a year earlier, the biggest decline since a scandal involving fake accounts erupted in September. Retail customers opened 43 percent fewer checking accounts in February, marking the sixth straight month of declines since regulators fined the bank
Ed. Note: This article first appeared in Bloomberg The scandal involving Wells Fargo that surfaced last year shows the U.S. banking industry still has work to do on improving its culture, Federal Reserve Bank of New York President William Dudley said. “Like mortgage brokers in the early 2000s, it appears that job security depended almost exclusively
Ed. Note: This article first appeared in Bloomberg Goldman Sachs plans to hire a software developer to help open an automated investing service for mass-market wealth clients. The bank is advertising for a software developer to help create a platform that can be used to give customers “detailed information on their financial portfolio & analytics,” according
Even as the central bank amassed trillions of dollars of debt to prop up the economy following the financial crisis, it didn’t hedge its holdings or fret about gains and losses that might keep ordinary investors up at night. This extreme buy-and-hold stance has had an incredible calming effect on the bond market.
Ed. Note: This article first appeared in Yahoo The work of CFP Board’s Center for Financial Planning to create a younger, more diverse financial planning profession is a marathon, not a sprint. To that end, Fidelity’s David Canter will be running in the Boston Marathon on April 17 to raise money in support of the
Ed. Note: This article first appeared in Bloomberg Here is a question, as Congress thrashes out the health-care bill: How well prepared are you for a sudden spike in expenses from a medical emergency? Or, for that matter, for a lost job or surprise tax bill? When your cash flow is strong, it’s easy to
Ed. Note: This article first appeared in Reuters 40 House Democrats, led by the party’s top member of the House of Representatives Financial Services committee Maxine Waters, voiced opposition to a US Labor Department proposal to delay the start of a controversial retirement regulation. In a letter sent on the final day of the proposal’s roughly two-week-long
Ed. Note: This article first appeared in Wise Bread Pets provide us with love. They share our beds. We even buy them birthday gifts. And though you might consider Fido to be a bona fide member of the family, the law has a different perspective. Your dog is your personal property — no different from your
Ed. Note: This article first appeared in Washington Post The Justice Department will not support the Consumer Financial Protection Bureau in a monumental court battle over whether the structure of the federal watchdog is unconstitutional, according to court documents filed Friday. The department also argued that the president should be able to remove the director
Ed. Note: This article first appeared in MarketWatch Financial experts, policy makers and parents express a lot of angst over the possibility that college students are taking on too much debt. Nolan Fein is doing his best to avoid that outcome, but lately he’s been getting thwarted by the breakdown of a government financial aid
Ed. Note: This article first appeared in CNBC It’s frequently said that good things come to those who wait — but a bloated $4.5 trillion balance sheet might be a striking exception to that rule. With the Fed facing a Herculean conundrum in unwinding its crisis-era monetary policy — and a likely leadership transition on the
Ed. Note: This article first appeared in CNBC Whatever you do, don’t call the Milken Institute’s 2017 “Best Cities for Successful Aging” a list of retirement destinations. “This isn’t about retirement. These are the best cities for your ‘anti-retirement,'” said Paul Irving, chairman of the Milken Institute Center for the Future of Aging. The concept
Ed. Note: This article first appeared in Business Insider The Federal Reserve hiked interest rates on Wednesday, raising its target federal funds rate by 25 basis points to a range of 0.75% to 1.0%. The rate hike is seen as a vote of confidence in the US economy, which has witnessed increasing inflation and job
Ed. Note: This article first appeared in Bloomberg For proponents of the American Health Care Act, perhaps the most encouraging nugget in the CBO’s otherwise critical analysis is that insurance premiums could fall by 10 percent on average by 2026. Even this prediction is more mirage than reality, however, in part because of an obscure concept
Ed. Note: This article first appeared in Bloomberg Todd David Alpert was a security guard for a board member of H.J. Heinz Co. in 2013 when federal regulators say he received an email from his employer spelling out terms of an impending takeover of the food company. Starting the following day, the SEC alleged that Alpert called
Ed. Note: This article first appeared in Insurance News Net Prudential Investments announced it will change its name to PGIM Investments, effective Monday, April 3, although the names and ticker symbols for the company’s mutual funds will remain the same. With $82 billion in assets under management as of Dec. 31, 2016, the company ranked among
Ed. Note: This article first appeared in Bloomberg There was only one dissent from Wednesday’s rate-raising decision by the Federal Reserve’s monetary policy committee, and it came from Neel Kashkari. The former aerospace engineer and onetime Republican candidate for governor of California is now president of the Federal Reserve Bank of Minneapolis. You could see the seeds of
Ed. Note: This article first appeared in Newsmax Veteran financial guru and former Ronald Reagan adviser Larry Kudlow says changes to Obamacare should include a special fund to help seriously ill people while healthier people pay less for insurance. “You’ve got to separate out the healthy from the ill. You must take care of the ill.
Ed. Note: This article first appeared in Bloomberg The investor who called emerging markets the “trade of a decade” before their rally last year sees further gains to come. Christopher Brightman, the chief investment officer at Research Affiliates, says that while emerging equities cost more now than when he first made the call in February 2016,
Ed. Note: This article first appeared in Forbes It is no secret that millennials prefer to use mobile apps instead of walking into a bank – and with good reason. Mobile financial apps offer a way to automatically invest, make purchases or transfer funds, and provide additional security options to protect customers from identity theft.
Ed. Note: This article first appeared in Bloomberg Credit Suisse and UBS have a message for their wealthy clients: it’s not too late to buy equities. Political risk is keeping many rich individuals on the sidelines of a rally that’s sent global stocks surging to records amid a recovering world economy. Now is the time for them to
Ed. Note: This article first appeared in Bloomberg As many hedge funds suffer from a prolonged bout of weak returns, one New York money manager says he’s found an antidote on the other side of the world. For Andrew Tsai, chief investment officer of the $750 million Chalkstream Capital Group, the answer is 6,800 miles
A statement from NCOA President and CEO James Firman on the Trump Administration Budget Blueprint.
The Administration for Community Living/Administration on Aging released funding opportunity announcements for grants to support the implementation and sustainability of Chronic Disease Self-Management Education (CDSME) and falls prevention programs.
Ed. Note: This article first appeared in MarketWatch What do you love more: Your money or your children? That’s an absurd question, you say. Only a sociopath would even think about it, you say. And yet many people are more secure letting a perfect stranger tend to their kids than their cash. That contradiction shows the high
Ed. Note: This article first appeared in The Street President Donald Trump has been in the office for about two months, and love him or hate him, financial industry specialists seem fairly bullish on his performance from an economic point of view. That’s the takeaway from a single question posted to a handful of highly-respected U.S.
Ed. Note: This article first appeared in CNBC Expect the Federal Reserve to lead markets rather than follow them, Mohamed El-Erian, chief economic advisor at Allianz, told CNBC on Thursday, a day after the Fed hiked interest rates for the second time in three months. “There is an ongoing transition in Fed policy. This is
Ed. Note: This article first appeared in Yahoo Goldman Sachs’ portfolio strategy team has cut its outlook on the stock market for the next quarter. In a note to clients published late Tuesday, Goldman’s team led by by Christian Mueller-Glissmann took its view on stocks to “Neutral” from “Overweight” for the next three months. The team remains
Ed. Note: This article first appeared in CNBC While the Federal Reserve is gradually raising interest rates in the U.S., the actions by two other central banks are actually the most important thing to watch right now, bond guru Bill Gross told CNBC on Wednesday. And it is something that could possibly wreak havoc on
Purpose Reform is rolling across America’s healthcare landscape, from alternative payment methodologies to community integrated care initiatives. Healthcare transformation has implications beyond the confines of the healthcare system. Person centered care planning and holistic approaches to care coordination are becoming ingrained into the traditional healthcare delivery systems, synchronizing the social determinants of health (SDOH) with
Purpose The purpose of this learning collaborative is to achieve integrated, sustainable service systems for Chronic Disease Self-Management Education (CDSME) programs by supporting state and community-based organizations as they work to obtain accreditation for their diabetes programs and payment for CDSME services through three distinct Medicare benefits: Diabetes Self-Management Training (DSMT), Medical Nutrition Therapy (MNT),
Chemo plus radiation appears to extend survival of older glioblastoma patients, study says
Ed. Note: This article first appeared in Bloomberg Everyone should be grateful to receive an inheritance, and no parent wants to leave their offspring with nothing. But just 21% of those who plan to bequeath money to their children tell them how much money they’ll get. When kids do find out the size of their inheritance after a
Ed. Note: This article first appeared in Bloomberg What should be the year of the active investment manager is morphing into something surprising: ETF heaven. Institutional stock pickers hold a record amount of ETFs and control nearly half of the ETF options market, according to research by Goldman Sachs. The mutual and hedge funds join
Ed. Note: This article first appeared in Bloomberg This hedge fund is only looking one day ahead. That delivered a 30% return in 2016 for the London-based Runestone Capital Fund, which crunched more than 700 variables to develop a quantitative model for trading US equity index volatility. “We trade with a one-day horizon as predicting volatility long
Ed. Note: This article first appeared in Bloomberg Buy oil now, and count on Saudi Arabia for support, according to Citigroup. OPEC’s output cuts aimed at easing a global glut are “real” and is cleaning up the market, analysts including Seth Kleinman wrote in a report dated March 14. While prices have dropped recently amid rising
Ed. Note: This article first appeared in CNN “Shark Tank” host, investor, businessman and Dallas Mavericks owner Mark Cuban did not shut down the possibility Wednesday of making his own run for the Oval Office. Cuban said that President Trump needs a better grasp of the issues in order to truly move the country forward. In an interview
Ed. Note: This article first appeared in bol President Trump plans to nominate J. Christopher Giancarlo to chair the Commodity Futures Trading Commission, which regulates the derivatives trading that set off the financial crisis. Unlike Trump, Giancarlo has said he supports the core reforms of the Dodd-Frank Act. A Republican member of the CFTC, Giancarlo took over
Ed. Note: This article first appeared in Reuters A US debt ceiling crisis is less likely to happen in 2017 given the Republican-controlled White House and Congress will probably agree to suspend or raise the federal borrowing limit before the government runs out of cash, Fitch Ratings said. A deal in November 2015 to suspend
Ed. Note: This article first appeared in IBTimes In the old days, before the iPhone, a financial advisory firms could get away without updating their technology every year, but not anymore. As consumers go mobile, they expect advisors to be up-to-the-minute with the latest technology. Almost everyone uses the web or mobile technology and expects to
Ed. Note: This article first appeared in IBTimes NAB Future Planners Scholarship was launched at four Australian universities, namely Deakin Business School, Griffith University, Western Sydney University and RMIT University. The program is available for Australian citizens or permanent resident students currently studying in a business-related field with financial planning as their major. Undergraduate financial planning students
Ed. Note: This article first appeared in Bloomberg Steven Cohen got rich by going with his gut on big trades. Now the billionaire trader is experimenting with another path: automating the decisions of his best money managers. Cohen’s Point72 Asset Management, which oversees his $11 billion fortune, is parsing troves of data from its portfolio
Ed. Note: This article first appeared in Plan Sponsor ClearFit is a retirement program in which Morgan Stanley Wealth Management serves as a 3(38) fiduciary under the Employee Retirement Income Security Act. Taking a multi-manager approach and utilizing an investment menu made up of non-proprietary funds, Morgan Stanley will assume responsibility for selecting investments and applying its
Ed. Note: This article first appeared in USA Today Autonomous cars don’t come more cozy or crazy than the NIO Eve and EP9, two candy-colored vehicles that want you to believe the automotive future is almost here. The cars drew steady crowds this weekend here at SXSW Interactive, which once again invited technologists from major
Ed. Note: This article first appeared in Forbes Nearly all financial advisors are looking to grow their practices by cultivating the wealthy. There are a number of ways they can effectively bring in new affluent investor clients with referrals topping the list. One kind of referrals entails current wealthy clients referring their family, friends, and peers.
Ed. Note: This article first appeared in CNBC Brokerage Charles Schwab on Tuesday launched a service that combines its automated investment management technology with human advisors, as financial institutions race to offer digital financial advice. The service, called Schwab Intelligent Advisory, provides clients with a financial and investment plan, unlimited access to a human advisor
Ed. Note: This article first appeared in MarketWatch Can a robo adviser act as a fiduciary? It might not rank with the all-time great philosophical questions, but financial experts are increasingly wondering that very thing. They especially want to know whether a robo adviser can act as fiduciary under the Labor Department’s conflict-of-interest rule which, given
Ed. Note: This article first appeared in Bloomberg The Labor Department’s efforts to delay enforcement of the fiduciary rule aren’t enough, the Chamber of Commerce argued in a brief asking a federal judge to step in and block the rule ( Chamber of Commerce v. Hugler , N.D. Tex., No. 3:16-cv-01476-M, motion for injunction filed
Ed. Note: This article appeared in Yahoo With the implications of the 2016 General Election beginning to come into focus, tax directors are looking closely at the new administration to gauge how potential tax reform might impact their financial reporting strategies and ultimately their bottom lines. In fact, all the tax executives who participated in
Ed. Note: This article first appeared in ProMarket A new Stigler Center paper shows the extent of sexism in the financial industry: although male financial advisers are three times as likely to engage in misconduct and twice as likely to be repeat offenders, women are far more likely to be punished for it. It is not every day
Ed. Note: This article first appeared in Reuters JPMorgan Chase has sent some wealth management customers letters this month notifying them that they could be moved to the firm’s self-directed platform soon ahead of a pending Labor Department retirement regulation, the bank said on Monday. While implementation of the DOL fiduciary rule may ultimately be delayed,
Ed. Note: This article first appeared in The Street While a bear market seems light years away based on how the markets are performing, history tells us one eventually will occur. Now modern technology has added a twist. With the popularity of robo-advisors for investing, the new question is how effective such tools will be
Provident Trust Group launched its latest Online Portal that allows secure electronic access to establish and digitally manage investment accounts from end to end. Provident’s first 100% web-based process provides easier form completion and clearer view of holdings and transactions that will aid customers in opening new accounts securely and quickly without any physical paperwork. “As new
Ed. Note: This article first appeared in Nasdaq With the estate tax exemption in 2017 at nearly $5.5M per person or $11M for married couples, setting up a trust to save taxes upon death is not as much of a driving force as it used to be. Instead, more clients want a trust today due to
Ed. Note: This article first appeared in Business Wire Business executives are reporting their highest level of optimism about prospects for the United States economy in more than a dozen years, according to the first-quarter AICPA Economic Outlook Survey. This survey polls CEO’s, CFO’s, controllers and other CPA’s in U.S. companies who hold executive and senior
Ed. Note: This article first appeared in Bloomberg Wall Street speculators are zeroing in on the next U.S. credit crisis: the mall. It is no secret many mall complexes have been struggling for years as Americans do more of their shopping online. But now, they’re catching the eye of hedge-fund types who think some may
