Household incomes fell in a third of all states nationwide last year, while just five saw median income levels improve, according US Census Bureau data. Household incomes fell in 17 states, mostly in the upper Midwest, one-year estimates from the American Community Survey found. Michigan, Pennsylvania, and Ohio — widely...
Citi has announced a significant change to its organizational model and its management structure. The move will see Andy Sieg, the firm’s new wealth business leader, take a seat on the executive management team along with the leaders of the firm’s other interconnected businesses. Sieg joins the firm on Sept....
A financial advisor who began her career as a branch office administrator at Edward Jones is returning to the firm in Winchester, Virginia. Julie Wise rejoins the firm after eight years with Wells Fargo Advisors, where she was part of a team managing $300 million in client assets. Wise spent three...
Bridgewater Associates LP founder Ray Dalio said he doesn’t want to own bonds and prefers cash, highlighting difficulties investors face as global central banks try to manage inflation. “I don’t want to own debt, you know, bonds and those kinds of things,” the billionaire said Thursday at the 10th Milken...
Cetera Holdings this week said it was spending $1.2 billion to acquire the nearly 3,100 tax focused financial advisors at Avantax Inc., a clear indication that the valuations for broker-dealers and registered investment advisors are still climbing and no one knows how high they will go. To put that...
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...
The U.S. lags 19 other countries on retirement security — putting it just behind Belgium and ahead of South Korea — despite recent initiatives designed to help expand plan access and encourage workers to save more. The country’s relatively low ranking among other wealthy nations is down two positions from...
Americans with at least $1 million in investable assets are generally pretty good at managing their long-term financial future according to a new survey. But not all of those polled by Northwestern Mutual have the peace of mind that a robust financial plan provides and are concerned that, unless they...
Investors seeking exposure to U.S. companies with high free cash-flow yield and dividend growth have a new option from Amplify ETFs. The $4.4 billion asset manager, which acquired the ETFs of the ETF Managers Group in June, has announced the launch of the Amplify Cash Flow Dividend Leaders ETF (COWS)...
Binance.US Chief Executive Officer Brian Shroder has left the crypto trading platform and been replaced on an interim basis by Chief Legal Officer Norman Reed, according to a company spokesperson. The departure comes as the company controlled by embattled digital entrepreneur Changpeng “CZ” Zhao is eliminating about one third of its...