Short term treasury yields have risen to levels too high for wealth managers to ignore. Maybe that’s why they are ignoring municipal bonds instead. Treasury yields from one month through 2 years up the curve have eclipsed 5% at last check thanks to the past year’s steady diet of Federal...
Wealth managers proudly display a long list of designations and degrees after their signatures – CFP, MBA, CPA, CFA, etc. – and deservedly so, considering the effort involved in achieving those titles. Katherine Krantz, CEO of the Center for the Macro Specialist Designation, says it’s high time, and of high...
They weren’t kidding when they said an education is worth its weight in gold. According to the advisor edition of State Street Global Advisors’ Gold ETF Impact Study released Thursday, a lack of financial knowledge is the top reason investors don’t invest in gold, with more than a third indicating...
The Social Security cost of living adjustment (COLA) for 2024 will likely be 3.2% based on a jump in consumer price data through August, according to the Senior Citizens League. The resulting increase would raise the average monthly retiree benefit of $1,790 by $57.30. The Social Security Administration is slated...
Washington is sprinting to keep pace with the AI revolution. So where does that leave Wall Street? Adobe, IBM, Nvidia and a handful more technology companies signed President Joe Biden’s voluntary commitments governing artificial intelligence this week. The document requires steps such as watermarking AI-generated content and other assurances aimed at...
After two weeks of Wall Street whispers and nearly 30 years of service, Laurence Stein is leaving Goldman Sachs. Goldman confirmed Monay that Stein, the bank’s executive vice president and chief operating officer of its asset and wealth management division, has decided to retire from the firm at the end...
Uncle Sam is not the only one telling investors to buy U.S. bonds. Financial advisors are too. PGIM Investments’ quarterly survey of advisors — conducted just before the banking turmoil in March and again in May — shows that financial advisors ranked Treasuries, municipal bonds and investment-grade corporate bonds as...
No matter how they may be portrayed in movies and on television, the majority of ultra-high-net-worth investors are not single-mindedly focused on lowering their taxes. They are actually more concerned about their kids becoming rich little creeps, a new study shows. Estate planning solutions provider Vanilla Thursday announced the...
On any other week, Chuck Smith helps his clients save for the long run. This week, however, the Nebraska-based registered investment advisor will be running for the long save. Smith and his team at Qualified Plan Advisors will be running 401K — or 250 miles — in honor of National...
Federal Reserve Chair Jerome Powell has his data. Financial advisors have theirs. Powell has repeatedly said the central bank will take a “data-dependent” approach to future interest-rate hikes, focusing on numbers like Friday’s all-important August jobs report from the Bureau of Labor Statistics. While the Fed Chair may have more data-collection resources at...