Pet trusts for the rich are the wave of the future as furry family members expand their financial and emotional footprint without a compensating step up in terms of legal status or protection. Britney’s barely controlled dog budget is practically begging for someone to structure the costs to keep them comfortable for life. Onetime child
Here’s a prediction I’d thought I’d stash in a dark corner of my archive of 2015-era foolishness that suddenly looks correct after all, Marketwatch columnist Tim Mullaney says : Apple may still hit $1 trillion in stock-market value in 2017, and second-quarter earnings May 2 may make this even clearer. That, at least, is the analysis
Former Texas Congressman Ron Paul, who’s run for president several times, is predicting that the Federal Reserve’s actions will have serious consequences for the stock market, just as the latest growth figures suggest the economy may have hit a soft patch. According to government figures released on Friday, the nation’s gross domestic product fell to
With the S&P 500 Index closing in on record highs this week, the question of how richly stocks are valued looms large in the market conversation—and well-known academics Robert Shiller and Jeremy Siegel have very different answers. What’s clear is that the recent rally has come largely on the back of rising valuations; the S&P’s forward
Calling bubbles is hard. For example, take tech startups. In 2011, billionaire Mark Cuban — who won much of his own fortune in an earlier tech bubble — declared that the modern venture-funded startup scene was like a Ponzi scheme. That same year, the Economist warned that irrational exuberance had returned to the tech world,
President Donald Trump’s budget numbers don’t add up and his tax and spending plans are likely to lead to bigger deficits and higher interest rates, said former Federal Reserve Chairman Alan Greenspan. “His arithmetic is the problem,” Greenspan said in a Bloomberg Television interview with David Westin aired on Friday. Trump has said he intends
Marc Faber is known for his dire market predictions, but after years of calling for a correction that has yet to happen, the so-called Dr. Doom found himself under fire from a “Futures Now” trader. In a heated exchange on CNBC, trader Scott Nations pressed the Gloom, Boom and Doom Report publisher over his dismal
U.S. companies looking to avoid paying domestic tax rates are holding about $2.6T in overseas earnings, a number that has been rising steadily for years, according to research from Capital Economics. Part of President Trump’s tax plan calls for a “holiday” that would lower the U.S. rate to incentivize companies to repatriate — bring home — that
It’s common for people to consider how they will eventually like their assets distributed among loved ones and ministry organizations. But perhaps you have not developed a comprehensive estate plan because you think that is necessary only for the extremely wealthy, Richard Carnes at Western Recorder writes. The need for estate planning applies to everyone. A
No matter what ETF you’ve bought this year, it’s probably made you money. Fully 84% of U.S.-listed ETFs are up in 2017. “Considering there are almost 2,000 in the U.S. marketplace alone, that is a lot of different styles, sectors, asset classes, that are all working. They are all flat on the year or up on
When FDR was inaugurated in 1933, his 100-day vision was said to have been met with a crowd “as silent as a group of mourners around a grave.” Over 80 years later, a similar shroud of muted pessimism has fallen over Silicon Valley, as leaders stifle their vitriolic opposition to President Trump. And yet most technology CEOs
Robots are most likely to replace 50% of all jobs in the next decade, according to Kai-Fu Lee, founder of venture capital firm Sinovation Ventures and a top voice on tech in China. Artificial intelligence (AI) is the wave of the future, the influential technologist told CNBC, calling it the “singular thing that will be
When President Ronald Reagan first introduced his version of what would become the landmark 1986 tax reform, his staff kicked off the debate with a phone book-sized description that become known as Treasury I. And for every recent president who proposed tax changes as part of his budget, the Treasury staff described those ideas in
I admit it. I am addicted to notifications, Shreya Dalela at The Coffeelicious writes. But really, who isn’t? Every single social media network’s growth and revenue depends on how frequently YOU check the screen. They hire neuroscientists and psychologists to understand our minds better so that the ‘Fear of Missing Out’ can be used to their advantage. Autoplay videos,
A few mental shifts can help you live a richer and more successful life. As Dale Carnegie wrote in his best-selling book “How to Win Friends and Influence People,” “It isn’t what you have or what you are doing that makes you happy or unhappy. It is what you think about it.” In fact,
1 in 4 cases of age-related macular degeneration initially goes unrecognized, research suggests
ARE YOU SERIOUS ABOUT YOUR RETIREMENT
An 'older' mind is linked to signs of physical and mental problems, study contends
First daughter Ivanka Trump arrived in Berlin on Tuesday armed with facts and figures to recite at what was expected to be a highbrow international summit to discuss women’s entrepreneurship, alongside German Chancellor Angela Merkel, Politico writes. But on her first trip abroad as an official representative of the U.S., Ivanka was put on the
Cash has been flowing fast and free in the nascent Trump presidency, even if some of the economic data points haven’t caught up yet. Several measures indicate record activity in the days since the Republican captured the nation’s highest office in November. Mergers and acquisitions have been in a frenzy, companies have been rushing to market
One of President Reagan’s top economic advisers has some blunt advice for President Trump: Put health care aside and focus on cutting taxes, CNN writes. “Cut the corporate tax. Just do it,” economist Arthur Laffer told CNN. Trump really wanted a big win in his first 100 days in office, but the repeal of Obamacare failed
The Senate expects to pass a short-term funding bill ahead of the late Friday deadline to keep the government open, Majority Leader Mitch McConnell said. We expect to pass a short-term funding bill before Fri’s deadline so a final draft can be shared w members prior to consideration next week — Leader McConnell (@SenateMajLdr) April
A report from Politico distinguishes President Trump as a president who craves good press — and even lets the media, including the influential conservative news titan Matt Drudge, set the agenda for the day. President Trump has invited the reclusive Drudge to the Oval Office, and Drudge frequently communicates with Jared Kushner, Trump’s son-in-law and senior adviser,
President Trump’s new proposal to reform the tax code might be the biggest tax cut for individuals since the Reagan administration, but it is also just one page long. “It has less detail than the plan released by the Trump campaign,” said Scott Greenberg, an analyst with the Center for Federal Tax Policy at the Tax Foundation.
Do you need more judgment in your life? Don’t feel like your family, colleagues and roommates are giving you enough flak day-to-day? Now you can pay for a robot to do that, Huff Post writes. Amazon unveiled Echo Look, a camera meant to “help you look your best.” According to Amazon, the device can take
The baby boomer generation is facing a retirement income shortfall. This is no surprise if you take a look at how much money the average retiree has saved for retirement. According to U.S. census data, the average 65-year-old couple has about $100,000 saved for retirement. Applying the 4% withdrawal rule to this $100,000 of savings,
It was 1PM in the afternoon when she called. She was upset. Her boss undermined her authority again. He’d gone on a verbally abusive Slack rant, disrespected her in front of her entire staff, and continued to doubt her expertise. Naturally, she needed to vent. She had 10 minutes during her lunch break, so she
Its been clear for some time that the U.S. is particularly fertile ground for robo-advice — the country has far more robo-advisors than any other geography. Absolute numbers alone might not be an unqualified indicator of a healthy industry, and may even present problems, according to a new report from Burnmark. Here are the report’s
‘While the revised version still does not fully repeal Obamacare, we are prepared to support it to keep our promise to the American people to lower healthcare costs,’ the group says in a statement posted on Politico. The House Freedom Caucus has officially endorsed a new compromise on the bill, delivering a fresh burst of
JPMorgan Chase economists are forecasting Q1 growth of just 0.4%, barely a positive pulse. The economists cut their view from 0.6% on Wednesday, after reviewing annual revisions to retail sales data — reflecting a potentially worrisome trend of consumer weakening also seen in softer auto sales and retail sales data recently. CNBC/Moody’s Analytics Rapid Update, based
BlackRock signaled its willingness to engage in a price war last October by cutting fees on 15 ETFs, going head-to-head with faster-growing ETF rivals Vanguard and Charles Schwab in the fight for investors flocking to passive products. “A new era is dawning for advisers and long-term investors,” Mark Wiedman, global head of iShares, BlackRock’s $1.4 trillion ETF
For years, U.S. government leaders in rare bipartisan chorus have called for more wireless spectrum to fuel American innovation. It is time to turn talk into action. Spectrum – the radio frequencies used to transmit information to and from mobile devices – is a vital resource and part of our national infrastructure. Yet it sometimes
Wells Fargo’s board hears shareholder concerns and is pledging to fix itself, the bank’s executives told CNBC. Chairman Stephen Sanger said that while shareholders have liked what Wells Fargo’s board has done to address issues regarding the bank’s sales practices, investors wish the board jumped on the issue sooner. Wells Fargo has been trying to
President Trump’s tax overhaul would also boost the standard deduction for individual taxpayers, Politico writes. President Trump promised to slash tax rates for businesses and individuals, double the standard deduction and provide tax relief to help pay for child and dependent care expenses under a plan the White House released Wednesday to much hype. At
U.S. President Donald Trump planned to propose on Wednesday steep cuts in corporate taxes and repatriated offshore corporate profits as the administration seeks to regain momentum on economic policies. “We’ll be having a big announcement on Wednesday having to do with tax reform. The process has begun long ago, but it really formally begins on
Ameriprise Financial announces it has signed a definitive agreement to acquire Investment Professionals, Inc. (IPI). IPI’s experience and expertise in serving the financial institutions market will complement Ameriprise’s successful growth strategy in Advice and Wealth Management. Established in 1992 by Chairman and Founder Scott Barnes, IPI has grown to become a market leader with approximately
Markets are picking sides when it comes to the direction of the United States economy. In the green corner are stocks. The S&P 500 index is just 0.2% away from a record high reached in March on bets that Trump’s administration will push through tax-code changes to spark growth. In the red corner sit U.S. government
Should President Trump choose to replace Federal Reserve Chair Janet Yellen when her term expires next year, he could well turn to someone close by to fill the void. Speculation is building on Wall Street that a likely replacement to run the central bank would be Gary Cohn, director of the National Economic Council and
With workplace cyberattacks on the rise, industry experts are pressing businesses to train their workers to be more vigilant than ever to protect passwords and sensitive data and to recognize threats, Computerworld writes. “It is imperative for organizations of all sizes to instill among employees the critical role they play in keeping their workplace safe
Neuroscientists have been quick to challenge recent statements from Tesla CEO Elon Musk and Facebook executive Regina Dugan about their plans for brain-scanning research as impractical and far-fetched. Yet sweeping promises of transformative technologies and overly aggressive timelines that are short on details are nothing new for Silicon Valley. What is new about these efforts are
International Business Machines Corp. is piloting its Jeopardy-winning Watson technology as a tool for catching rogue traders at large financial institutions, executives said in an interview. The company’s Watson Financial Services product looks for patterns in traders’ chats and emails while also analyzing numerical trading data. The surveillance tool is being piloted with a handful,
Here is another line item for your “things to discuss with my financial advisor” checklist: cybersecurity. With the financial services industry consistently considered a prime target for cyberattacks, some financial advisors say the electronic safety of personal data and assets should be part of the client-advisor conversation. “I think clients should be asking questions about
President Trump’s zeal to unveil a tax plan before his 100th day in office is raising questions about just how thorough his “tax reform” plans will be, amid signals that his focus for now is on slashing tax rates. Trump has directed aides to move quickly on a plan to cut the corporate income tax
Over the last few years, the market has seen the volume of investments in FinTech companies increase significantly from $3 billion to more than $40 billion in 2015, and that is quite easy to understand why, CIO writes. FinTech has taken over the world and is everywhere these days, besides having completely disrupted all financial services industries
AVA Advisory has announced that it will make available an application for download that allows investors to access robo-advisory services with their smartphones. Nirun Pravittana, chief executive of AVA Advisory, said the application was a robo-advisor with AI technology to help investors increase their returns easily by just using their smartphones. The firm spent a
When it comes to working with some of the wealthiest individuals in the world, there is no room for complacency, ETF.com writes. While our research of 1,022 high net worth individuals (HNWIs) highlights that they are broadly satisfied with their primary wealth managers, we also uncovered that, as clients, they feel they are putting a significant amount
3 Master Steps to Retire on Cashflow Investing Stock Option
1 in 3 older men still getting the screen; doctors divided over its value
At a community college in New York, 12 cafeteria workers learned that they’ll lose their jobs — and be replaced by self-serve machines, TIME magazine writes. It is an issue that has played out in communities across the country, as robots get better and better at doing jobs — from taking fast food orders to mining coal
We’re living longer and longer. Well, some of us. Age 100 is now a possible goal for young people around the world with good health care. The average woman in Japan is already living to 87. Yet majority of Americans are dying younger and younger. Based on the latest year of data, the Society of Actuaries last fall dropped
In a video last month I wanted to document some of the applications I’m currently using as resources for daily remote work, Francesco D’Alessio writes. Working remotely is becoming increasingly popular as technology continues to improve. With research from Stanford suggesting that telecommuting from home has improved performance by 13%, per employee. All of these applications
In spite of extensive regulatory guidance since 2010, some financial services firms are still baffled by how to comply with communications rules and regulations pertaining to social media. Regulators say that social media is just another form of communications, and ought to regarded as such. Existing rules and regulations still apply, but need to be interpreted
Markets may be ignoring certain risks as they focus on their guiding light, the chief economic advisor at Allianz, Mohamed El-Erian said on CNBC’s “Halftime Report.” “The market is looking past all these little land mines, hoping for tax reform, hoping for deregulation, hoping for infrastructure, hoping for an orderly normalization of that policy,” El-Erian said.
Individual and corporate citizens from countries around the world have moved to North Carolina and contributed materially to our state’s economic, educational, and cultural growth, National Law Review writes. Foreign direct investment (“FDI”) in North Carolina generally surpasses $1 billion annually, which boosts our state’s private sector employment by hundreds of thousands of workers. In
A Long Island woman pocketed more than $13 million by selling off her daughter’s birthright, including seven Gramercy Park co-ops and a Brooklyn apartment building, the daughter charges in court papers, NYPost writes. Elizabeth Marcus, The daughter, has tried for several years to loosen mom Geraldine Lettieri’s grip on a trust fund established for Marcus by her
With the current relatively generous federal estate tax exemption of $5.49 million for 2017 — doubled if you are married — most people are free of any federal estate tax worries, Marketwatch writes. Also, President Donald Trump’s proposed tax plan would eliminate the federal estate tax. And 30 U.S. states have no estate or inheritance taxes.
The ability to reset the posthumous record opens up vast opportunities for the heirs to claw back the money lost when the one-time Patriots star got a life sentence for murder. And with the stakes so high, the most obscure details become critical. When Aaron Hernandez hung himself in his cell last week, his once-promising
Mohamed El-Erian, Allianz SE’s chief economic advisor, invoked the image of a “mound of sand” to show how foundations of economic stability could be undermined if either Nationalist Marine Le Pen or Communist-backed Jean-Luc Melenchon is elected president of France. “That is inherently unstable,” El-Erian said in a Bloomberg Television interview Friday. “At some point,
Goldman Sachs is closing two long-dollar “top trade” calls, both of which would have posted losses and potentially contributed to the bank’s poor market performance last quarter. “In recent years we have generally maintained a bullish dollar view, and the greenback still has a number of things going for it, including a healthy domestic economy,
Investors should anticipate a 5 to 10 percent correction as confidence around policy change in Washington wanes, Wells Fargo Investment Institute head global market strategist Paul Christopher said in a recent interview. Along with some trepidation about the health of the U.S. economy, the failure of the Trump administration’s proposed health-care bill last month gives
Jeff Greene, a billionaire real estate mogul, says he knows what will upend a stock market rally that’s entering its ninth year: Higher interest rates and fiscal policy.
Billionaire investor Paul Tudor Jones has a message for Janet Yellen and investors: Be very afraid. The legendary macro trader says that years of low interest rates have bloated stock valuations to a level not seen since 2000, right before the Nasdaq tumbled 75 percent over two-plus years. That measure — the value of the
Raymond James agreed to buy two investment businesses from UMB Financial Corp. for $172.5 million, adding about $27 billion in assets under management (AUM). Scout Investments and Reams Asset Management will become wholly owned subsidiaries of Raymond James’s Carillon Tower Advisers, the St. Petersburg, Florida-based company said Thursday in a statement. Reams is a fixed-income
When Prince died on April 21, 2016, he left behind a purple ocean’s worth of questions. From the cause of his death and whether criminal charges might be filed to the fate of his unreleased recordings and the estate for which he left no will, the past year has provided as many new questions as
Deutsche Bank was hit with the Fed’s first major fine for failing to ensure traders abide by the Volcker Rule’s ban on risky market bets — and will also pay more for allowing currency desks chat online with competitors, allegedly revealing positions. The simultaneous sanctions, totaling about $157 million, fault lax oversight of traders that persisted into last
When Pamela Capalad told her husband she wanted to hire a financial advisor, he was a bit confused. After all, she’s one herself. Yes, Capalad — a financial planner in Brooklyn — can technically manage her family’s finances: She’s a CFP, founded her firm Brunch & Budget, and has years of experience. But she also
Financial planners aren’t necessarily known for discussing politics — or any other third-rail issues, for that matter — in private or public, Marketwatch writes. “When I was brought up, we were taught not to discuss politics in polite company,” said Roger Wohlner, a financial advisor and blogger. But then came the Age of Trump. Now
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.
Though the average American retires at age 63, a handful of outliers have cut that number nearly in half. Take Justin and Kaisorn McCurry, who quit their jobs in their 30s after saving $1 million in a decade. Or Chris Reining, who became financially independent at age 35 and retired two years later. Could you
Wealthfront Inc will begin letting some customers borrow against their investment accounts in its first foray into lending. The privately owned firm, which competes against traditional brokerages like Morgan Stanley and Bank of America Corp’s Merrill Lynch, said that customers with at least $100,000 in their investment accounts can borrow up to 30% of the
Tesla Inc founder and Chief Executive Elon Musk said his latest company Neuralink Corp is working to link the human brain with a machine interface by creating micron-sized devices. Neuralink is aiming to bring to the market a product that helps with certain severe brain injuries due to stroke, cancer lesion etc, in about four
Commentary on the Wall Street Journal article by Michael Wursthorn The Labor Department’s fiduciary rule may be delayed, but wealth management firms are already embracing the fee-based model the rule would favor, the Wall Street Journal writes. Wirehouses Transition from Commissions to Fees Fee-based assets rose by a record $29.2 billion in the first quarter
President Trump offered the clearest hint as to why he had broken his key campaign promise to label China a currency manipulator: “Why would I call China a currency manipulator when they are working with us on the North Korean problem?” he tweeted. “We will see what happens,” Politico writes. It is an extraordinary message—an explicit
The Trump administration will reveal a tax reform plan very soon and expects it will be approved by Congress this year whether a healthcare overhaul happens or not, Treasury Secretary Steven Mnuchin said. “It will be soon, very soon,” Mnuchin told a conference on the sidelines of the IMF and World Bank spring meetings in Washington.
Scottrade conducted a survey of investors and found that the younger they are, the less likely they are to trust investment advisors, MarketWatch writes. Mitch Tuchman tried to help an investment advisor who was concerned that a client who had shied away from the stock market over the past three years, and had missed out
There is no denying that a college degree isn’t as valuable as it was 20 years ago. Fresh graduates without prior professional experience can often run into issues when beginning their career search with no prior professional experience, Entrepreneur writes. The competition for jobs is extremely fierce. Developing professionals are wise to build up their professional
Most United States millennials believe that education and economic security are key for becoming an adult. But fewer than half are achieving those goals, according to a study released this week by the U.S. Census Bureau, which determined that over one third of American millennials still live with their parents. The report, entitled “The Changing Economics and
A Slovakia-based company unveiled the commercial design for a flying car priced at over $1 million on Thursday, saying it was ready for pre-orders with first deliveries expected by 2020. AeroMobil said its teardrop-like shaped AeroMobil Flying Car, displayed at the Top Marques Monaco, could switch to flight mode in less than three minutes. The wings
There are many components CEOs must consider to set their organizations apart in today’s increasingly competitive environment. But in my experience as a nonprofit leader, I have found employees to be the heart of any organization regardless of type or size. They’re the key to taking any organization from the ordinary to the extraordinary. Employees who are
Now the robots are coming after more than your investment advisor. Wealthfront Inc. said in a post that it’ll offer loans, calling the move a first among robo-advisors, known for wealth management using automated investing platforms. Through a partnership with RBC Capital Markets LLC, clients with at least $100,000 can take out loans of as much
The stock market is coming to a screeching halt, unless good news comes from two fronts, according to one strategist. TIAA Investments’ Brian Nick says domestic concerns and geopolitical factors in Europe, specifically, need to improve for markets to move higher. On the domestic front, while analysts’ estimates going into the current earnings season were
When we started our agency 6 years ago, we had a third partner who was an account guy, AdAge writes. While he wasn’t a typical account person — he’d migrated from Wall Street to a senior role at a big shop, so he skipped the customary indoctrination — he did get us to create an
Ever since Google Glass failed to make it into San Francisco bars, and into our lives, I began to wonder: What is it that the tech world doesn’t ‘get’ about humans? How is it that so many smart, well-educated and highly-paid techies manage to make people mad, resentful and eventually fail to launch major tech
Your home wireless router is a powerful little device. Its powers are almost always used for good, like making sure all the devices in your home can get on the Internet, granting them shared access to printers and files, and keeping intruders out of your network. A router can sometimes be corrupted and its powers can
Billions of dollars in new fee-paying assets flowed into Bank of America Corp.’s coffers during Q1, a record high that comes as its Merrill Lynch unit continues its efforts to comply with now-delayed retirement rules. Nearly $30 billion of new fee-paying assets flowed into the Charlotte, N.C., bank’s global wealth unit in the January-March period,
“Richard Simmons was hospitalized on Monday at an undisclosed location in California,” Simmons’ rep, Michael Catalano, tells ET. “After a few days of battling severe indigestion and discomfort while eating, we agreed it was best for him to seek treatment.” “He’s already feeling better and is expected to make a full recovery,” he adds. The
The Trump administration is taking a serious look at capping tax deductions for charitable contributions, according to sources, posted on The Hill. Steven Mnuchin as well as Trump’s senior advisers are mulling their next steps on tax reform, and the proposal to limit deductions for charitable giving hasn’t yet gained widespread acceptance, officials said. A senior
The Benefits of Diversification Ebb and Flow, But Now is Not the Time to Abandon the Time-Tested Strategy One of the most important concepts taught to MBA students in Investments 101 is that portfolio diversification is fundamental to a sound investment strategy. In 1952, Harry Markowitz, pioneer of Modern Portfolio Theory, coined the oft-cited phrase,
What is the latest frontier to be taken over by low-cost ETFs? Emerging-market debt. Despite a surge in appetite for high-yielding debt, mutual funds that charge more than double the fees of relatively cheap ETFs have struggled to keep up. Last year, BlackRock’s iShares JPMorgan USD EMB ETF became the world’s biggest developing-nation debt fund. It’s nearly
For millions of Americans, retirement doesn’t just involve more time to fix up the house. It involves swapping out the house itself for one in a warmer climate. A TIME analysis of four years of Census records found that, among the 3.3 million people age 50 and over who were no longer in the work
Senator Elizabeth Warren said that she does not have any plans to run for president in 2020. “No,” Warren answered when asked on NBC’s “Today” show if she was planning a White House bid. “I am running in 2018 for senator from Massachusetts.” Host Matt Lauer appeared to question her response, saying, “A lot of people are
San Francisco residents who order takeout may have their falafels or pad thai delivered by a robot. The new robot delivery service is a result of a partnership between Yelp and the small startup Marble, founded in 2015 by three former Carnegie Mellon University students. Starting Wednesday, residents of San Francisco’s Mission and Potrero Hill
President Trump took aim at information-technology outsourcing companies as he ordered a review of H-1B visa programs to favor more skilled and highly paid applicants. President Trump blasted “widespread abuse” of the visas for skilled foreign workers before signing an executive order directing fed. agencies to find ways of reorienting the program. “Right now, H-1B visas
Sofia Vergara’s former fiance Nick Loeb has accused The Modern Family star of violating his First Amendment rights by trying to stop him from bringing the frozen embryos they made together to life. Loeb’s latest move is the most recent development in the long-winded legal saga over the two fertilized eggs which the pair created together
Goldman Sachs’ internal technology revolution cannot come soon enough. The $90B Wall Street firm’s young online retail-banking unit is growing and could, once big enough, crank out far higher returns than the investment bank. Goldman could do with some of that extra juice already. At 11.4%, Goldman’s annualized return on equity for the quarter places
Emerging affluent investors—defined as Millennials with $100,000 in investable assets—currently control the largest portion of at-risk assets managed by full service financial advisors, according to the J.D. Power 2017 U.S. Full Service Investor Satisfaction Study,SM released. Surprisingly, half (48%) of emerging affluent investors currently working with an advisor say they “probably will” or “definitely will”
Mark 2016 as the latest Year of the Stock Picker that wasn’t. Active funds stumbled through another brutal year, with barely 1 in 3 large-cap managers able to beat the S&P 500, according to figures released by S&P Dow Jones Indices. The news got worse farther down the scale, with 89.4% of mid-cap managers falling
ARE YOU SERIOUS ABOUT YOUR RETIREMENT
Anna Maria Chávez joins as Chief Strategy Officer and Senior Vice President for External Affairs.
3 Master Steps to Retire on Cashflow Investing Stock Option
Small study detects positive brain changes from urban oases
Wells Fargo CEO Tim Sloan and Chairman Stephen Sanger purchased more than $5 million of the company’s stock one week after the board published a report into its bogus account scandal to help rebuild investor confidence. Sloan purchased just over $2 million of shares, while Sanger acquired a little more than $3 million, according to regulatory filings. Both documents
The Washington, D.C. economy is preparing for the day when younger workers break up with it. The fading of a millennial-infused population boom in the nation’s capital that carried through the Obama years, combined with President Trump’s efforts to slash the federal workforce, are but two factors that have the local economy locked in a painful
After having to stomach $31B worth of bitter mortgage settlements with government agencies a few years ago, J.P. Morgan swore off a huge swath of the home loan market. Gone were borrowers with anything much less than pristine credit ratings. The cost of managing delinquent accounts and the threat of huge legal penalties were written
Millennial expectations, values, and skill sets are changing the American workplace, redefining the way we work, and putting pressure on businesses to adapt if they are going to remain competitive in recruiting and operational performance. Most entrepreneurs see the millennial connection to relatively new fields like digital marketing, and to entry-level positions, and internships, but an
Americans are thinking about President Donald Trump when they’re spending their money. A survey conducted by CNBC shows 37% of Americans say they have made spending decisions based on President Trump’s election. Of those that said the president has had an effect on their purchases, 21% said they chose to spend their money in opposition to
The Manhattan judge overseeing the estate of Robert Durst’s long-missing wife, Kathleen ‘Kathie’ Durst, is facing a potential ethics probe by the State Commission on Judicial Conduct. Bob Abrams, attorney for Kathie Durst’s sister, Carol Bamonte, has reported Surrogate’s Court Judge Nora Anderson to the commission for refusing to investigate conflict-of-interest claims. Kathie Durst was the
Unfortunately you don’t get a second chance to do your estate tax plan. Wrong plan, wrong strategy or missed opportunities available under the law will cost your family dearly after you go to heaven. Following is an example: This is a true, sad, tax-war story. A reader of this column (Joe), had just completed his
A NYC bookkeeper tricked a sick war hero into cutting his family out of his $20 million estate — and instead leave it to her, a new lawsuit alleges. Anetta Klemens Klencner worked part-time for Sidney Cooper, who ran the profitable Williamsburg booze biz, Roebling Liquors, until he died on July 16, 2014 at age
One of the most highly debated tax topics in recent years has been the estate tax, and that debate is only going to get more intense as President Trump has made it clear he hopes to eliminate the federal version of what is widely known as the “death tax.” Republicans have long argued that estate
The trust company overseeing Prince’s estate named its new entertainment advisor this week, and a judge made a ruling in the case. Comerica Bank & Trust has picked Spotify executive Troy Carter, the former manager for Lady Gaga and Meghan Trainor, as its entertainment advisor, Carter told Billboard and Variety magazine this week. The company confirmed
The estate of Andy Warhol is suing a photographer so she does not sue first. The late pop art icon’s namesake foundation has filed suit against photographer Lynn Goldsmith after learning that she thinks Warhol violated copyright law by appropriating a photo she once took of Prince. Goldsmith shot the publicity photo of Prince in 1981.
Texas Commissioner of Insurance David Mattax died Thursday after a battle with cancer, the governor announced. Mattax, 60, was appointed by Gov. Greg Abbott in 2015. The two men had a long history together, as Mattax had been a deputy to Abbott when the governor was attorney general. Mattax worked at the department for 23
Kutcher breaks down in tears of regret for the way his split with Demi Moore played out while almost simultaneously Ben Affleck and Jennifer Garner call it quits without even raising an eyebrow. A bad divorce can cost a lot more than the settlement, and your clients definitely don’t want to be on the wrong side.
Regardless of who wins the French election, European stocks are headed for a correction, according to Deutsche Bank AG. That’s a view at odds with many of the region’s strategists who expect relief even if mainstream candidates lose. The Stoxx Europe 600 Index has rallied 5.2 percent this year to reach a 16-month high this week
A major Wall Street bank is reiterating its bullish call on crude oil, as the fossil fuel sits at four week highs following this week’s U.S. missile attack on Syria. RBC Capital Markets Head of Commodity Strategy Helima Croft predicts prices will climb to the low $60s within months — a nearly 20 percent move
When it comes to stocks over the next few months, one strategist is telling investors to look beyond the Trump administration and at the market’s fundamentals instead. The so-called “Trump rally” has seemed to cool off as stocks sit near all-time highs, but have generally traded in a range since the end of February. On
The U.S. needs new tools for the timely measurement and monitoring of technology, jobs, and skills to cope with the advance of artificial intelligence and automation, an expert panel composed mainly of economists and computer scientists said in a new report. The panel’s recommendations include the development of an A.I. index, analogous to the Consumer
ARE YOU SERIOUS ABOUT YOUR RETIREMENT
Use the links below to view presentation slides and resources for the 2017 National CDSME and Falls Prevention Annual Resource Centers Meeting.
Wealth management firm HighTower said it will acquire WealthTrust, which has interests in a dozen RIA firms with $6.4 billion in client assets nationwide, bringing HighTower’s total client assets to more than $47 billion. Chicago-based HighTower has been in discussions with private equity firm Lee Equity Partners LLC for four months to buy or invest in
I learned to play poker about a decade ago through a Seattle startup that connects founders with education, opportunities, and most importantly each other. Through this journey that began in 2008, I’ve learned that there are a lot of similarities between the startup world and the game of poker. I’ve even found myself making references to
TV ads, billboards, direct mailers — these are all common ways companies market their own products and services. If you do not have thousands of dollars to invest into your marketing budget, how do you engage with your potential clients? Small business owners often find it difficult to stretch their tight budgets to effectively market their offerings. However,
Do your employees drag themselves into work? Is office laughter a vague memory? Your employees’ morale may need a boost. After all, low morale can lead to poor cooperation, low productivity and increased turnover — and eventually hinder a business from reaching its goals. Since employee morale can quickly build or break a company’s success, effective
Majority of small businesses say that administrative burdens of federal taxes are actually a bigger problem than the financial cost, according to the National Small Business Association’s (NSBA) 2017 Small Business Taxation Survey. The survey also found that one-in-three small businesses report spending more than 80 hours—two full work weeks—each year on federal taxes. The survey
Preparing client portfolios for retirement is a time for optimizing and coordinating all the moving parts of the portfolio, built over the decades. The first step, said Dana Anspach, CFP and CEO of Sensible Money, is to stress-test pre-retirees’ portfolios to see how well their plans would hold up under a severe market decline or a
The news of a physician being forcibly removed from a United Airlines flight has shocked the world and captured headlines around the clock. Millions have now watched passenger-taken videos of Doctor David Dao being brutally dragged off the plane to make room for United employees. His frequent flyer bonus was a broken nose, concussion, and two
United States banks reporting their first profits under Trump’s presidency are showing a split: Wall Street businesses are faring much better than some of those serving Main Street. The nation’s two biggest trading firms — JPMorgan and Citigroup — posted surprisingly strong revenue Thursday from buying and selling securities in Q1, when political turmoil prompted clients to adjust
Stocks as well as other assets are priced at unrealistic levels based on the outlook for global growth, according to Bill Gross. “Equity markets are priced for too much hope, high yield bond markets for too much growth, and all asset prices elevated to artificial levels that only a model driven, historically biased investor would believe
ARE YOU SERIOUS ABOUT YOUR RETIREMENT
Paving the Way towards Sustainable Healthy Communities May 23-25, 2016 in Alexandria, VA View the agenda Use the links below to view presentation slides and resources for the meeting. Day One- Tuesday, May 23, 2017 Day Two- Wednesday, May 24, 2017 Day Three- Thursday, May 25, 2017
DON'T GO INTO RETIREMENT WITHOUT A PLAN
Researchers hope to some day be able to identify who's at risk before they're financially victimized
Brinker Capital announced the launch of the Destinations Funds, a series of 10 multi-manager mutual funds advised by Brinker Capital that it said aims to cut investors’ overall costs and lower the account minimum on portfolios. The funds now serve as the building blocks of the Destinations fee-based mutual fund advisory portfolios, which launched in
Wells Fargo is doing everything it can to put the phony account scandal in its rear view mirror. But according to the company’s first quarter fiscal 2017 earnings results, it still has a bit of a way to go until the episode is completely in the past. Wells reported Thursday that it recorded $22 billion in first
A company built around the research of Craig Wright, who has claimed to have invented the bitcoin cryptocurrency, has been sold to a private equity firm in a deal the company says is the biggest to date involving bitcoin’s underlying blockchain technology. The deal swings the spotlight once again on to Wright, a 46-year-old computer
Ed. Note: This article first appeared in CNBC Mark 2016 as the latest Year of the Stock Picker that wasn’t. Active funds stumbled through another brutal year, with barely 1 in 3 large-cap managers able to beat the S&P 500, according to figures released by S&P Dow Jones Indices. The news got worse farther down the
Ed. Note: This article first appeared in POLITICO Wall Street titan Stephen Schwarzman has recently taken on a new, informal job: counselor to the president. The CEO of Blackstone Group has become so close to President Trump that the two sometimes talk several times a week, covering everything from Chinese trade to tax policy to immigration. White
Ed. Note: This article first appeared in POLITICO Many critics have already dismissed the new White House Office of American Innovation, created in March by President Trump and led by Jared Kushner. The office is President Trump’s first attempt to modernize government, but Kushner already has a full portfolio, from negotiating peace in the Middle East
Ed. Note: This article first appeared in Fortune Despite routinely criticizing Janet Yellen throughout his campaign, President Donald Trump now says he’s open to the possibility of her serving another term as chairman of the Federal Reserve. In an interview with the WSJ, Trump the left the door open for the Yellen’s renomination once her tenure is up
The dollar fell after President Trump criticized its recent strength, but analysts expect the greenback to bounce back soon. Trump said the currency was “getting too strong” in an interview with The WSJ. “I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me. But that’s hurting—that
3 Master Steps to Retire on Cashflow Investing Stock Option
Elderly with heart problems fare worse on race days, perhaps due to delays in care, researchers say
Ed. Note: This article first appeared in Bloomberg President Trump is issuing a presidential memorandum that will call for a rethinking of the entire structure of the federal government, a move that could eventually lead to a downsizing of the overall workforce and changes to the basic functions and responsibilities of many agencies. The order will
