When Stifel Financial Corp. agreed to buy U.K. bank Barclays’ wealth management unit in the U.S., it put a final cap on a long, strange story of how an international bank stumbled badly trying to find a footing in managing the assets of wealthy Americans, and provides a cautionary tale of how corporate culture, as vague and amorphous as it can be, is really the oxygen of any business.
The $14 trillion retirement gap in America “is so scary we’ve stopped talking about it,” Sallie Krawcheck said during a keynote presentation at the Morningstar Investment conference. “And the retirement crisis is a woman’s crisis.”
GMO’s Jeremy Grantham kicked off Morningstar’s annual investor conference with a warning that we’re “creeping nicely and slowly to bubble land,” as easy money policies lead corporate managers to focus more on short-term profits (and stock options) than capital expansion.
It would not be a conference for wealth managers without a panel on robo advisors, where forward-thinking industry practitioners try to convince a skeptical audience that their conventional business model is being disrupted faster than they realize.
Family is clearly important to David Young, so when his son-in-law died suddenly from a brain aneurysm, leaving his 25-year-old daughter Katie alone with a newborn, his sensitivity toward the matter led to what is now the Live Your Dream foundation.
In 2007, William Pickens founded the Mid-South chapter of Gift of Life International foundation which brings children with heart defects from developing countries to leading U.S. hospitals for operations and recovery.
It’s worth looking at the so-far relatively muted response of the industry to the Department of Labor’s second go around in proposing new fiduciary regulations for financial advisors to retirement accounts.
Whatever your feelings about Obama’s recent turn toward progressive economic populism, the speech did focus the public’s attention on the possibility of conflicted advice when it comes to individual retirement accounts (IRAs), even if many still have only a faint idea of the issues at play.
When we thought about this month’s cover story, the idea was to show the beating heart inside some of the so-called robo-advisors, online asset allocation tools that use algorithms and funds to create tailored low-cost investment portfolios.
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