Former Boston Celtics power forward and NBA All-Star Antoine Walker talked to Bloomberg's Pimm Fox about how he lost $110 million, spending it on exotic cars, jewelry and handouts to a posse of "about eight to nine guys."...More
FinovateFall is akin to speed dating for startup financial service firms, including seven-minute pitches to institutions and investors. Still, some argue it’s where the future of financial services can be found. Here are some of the more promising ideas to come out of last month’s event....More
A new app, Acorns, takes advantage of the micro-investing wave by rounding up purchases on debit or credit cards and sending the difference to an SIPC-insured investment account (For the first $500,000.)...More
Woody Levin developed an app that stores all digital passwords, financial accounts, health records, social media log ins, etc. and automatically release them to a designated individual when they verify your death with the service....More
Barry Ritholtz and Josh Brown announced they were working with Upside, which has developed an automated online financial planning and investment platform meant to be white-labeled for planners who want to compete with the likes of WealthFront, Betterment or FutureAdvisor....More
Finovate hosted its annual fall conference on September 23-24, where a record-setting 1,500 attendees watched as 70 companies unveiled their latest financial technology. When the last demo was over, audience members were asked to vote for their top three favorites. Here are the seven named Best in Show.
Nicholas Schorsch's RCS Capital (RCAP) will take a majority interest in Docupace Technologies, giving the firm's 11 b/ds and 9,700 advisors access to its electronic processing and document management tools....More
A new study finds only 4 percent of small to mid-sized RIA firms have experienced a cybersecurity attack. But others say those numbers are simply too good to be true, and could lull smaller advisors into a false sense of security....More
For a device that packs any computing power, the smartphone, or phablet as this new generation is called, is going to remain crucial for work now. Here’s what advisors need to know about Apple’s new releases as well as its competitors’....More
Marketing is one activity advisors fret about but few do well, if at all. The same goes for social media. Vestorly, a New York City-based startup co-founded by Justin Wisz, may finally help them put some teeth into their efforts....More
When it comes to switching firms, advisors must plan their transition carefully. It requires thoughtful planning, a desire to run and grow your business, and unwavering dedication to do what is right for your clients....More
Research shows that while the average age of financial advisors has gone up, the percentage of advisors that don't have a succession plan in place has gone up as well. Why don't more advisors have a plan, and how can the industry better prepare for the future.
The U.S. corporate high yield market has grown from $250 billion to a $2.4 trillion industry. High yield has proven to be a solid asset class for investors, over time producing comparable returns to the S&P 500 with approximately half the volatility....More
Why do we make decisions that aren’t always in our own best interest? This group of articles from the Investments & Wealth Monitor takes a fascinating look at behavioral finance and behavioral portfolio management....More
With the wind at their backs, sprinters have broken speed records. Similarly, the tailwind of a bull market has boosted the fortunes of equity investors over the past five years. In both cases, the pace cannot be sustained over a long period of time. Look back no further than the past 10 years for confirmation of the market’s lack of endurance....More