There’s a difference in the investing world between thinking you know something and actually knowing it, with the former linked to paying higher investment fees, according to a study published Friday by the Finra Foundation. The research, based on data from the group’s 2018 and 2021 National Financial Capability studies,...
An advisor who was managing $350 million of client assets at Merrill Lynch has affiliated with UBS Wealth Management, the firm announced Friday. Matt Burton will join UBS as a managing director and financial advisor in the firm’s Indianapolis office. Client service associate Joanna Franz is also making the move. Burton...
We all know that bulls make money and pigs get slaughtered. But bears make money too. The question often faced by financial advisors is whether they should join them. As a rule, the trajectory of the market is upwards over time. Those who buy and hold long enough will inevitably...
A hotter-than-expected jobs report will likely nudge the Federal Reserve toward raising interest rates again by the end of the year. Nonfarm payrolls increased 336,000 last month after sizable upward revisions to the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate held at 3.8%, and...
Fifty years ago, many of today’s hottest investing preferences were the stuff of science fiction, but the fundamentals of investing were reassuringly similar. To mark 50 years in the wealth management industry Charles Schwab has been asking its clients, including some who have been with the firm since the early...
Financial advisors with Savant Wealth Management are gaining additional capabilities to provide professional 401(k) management for their clients. The RIA firm has partnered with Pontera to offer a more streamlined and scalable solution for applying investment strategies to clients’ plan retirement accounts. Savant uses Envestnet Tamarac as its portfolio management...
The head of private fixed income at SLC Management is to retire at the end of the year and will be succeeded by two co-heads. Sam Tillighast has been with the firm for five years and has led the PFI team’s successful doubling of new investments in that time. His...
FTX co-founder Gary Wang said he and Sam Bankman-Fried committed a multibillion-dollar fraud with customer funds that led to the cryptocurrency exchange’s collapse, shortly after taking the stand against his onetime math camp buddy and MIT roommate. Dressed in a gray suit and red tie, Wang didn’t make eye contact with Bankman-Fried...
Exchange-traded funds that buy emerging-market equities are undergoing a churn — and the biggest loser is the BlackRock Inc. fund that helped usher in passive investing to the asset class two decades ago. Investors have withdrawn $5.4 billion from the iShares MSCI Emerging Markets ETF since July — of which...
It’s the right time to buy global equities after a pullback that brought them to the brink of a correction, according to Citigroup Inc. strategists. The team led by Beata Manthey said they forecast a 15% advance in the MSCI All-Country World Local Index by mid-2024 given “more balanced macroeconomic...