Edward Jones announced it is relaunching its BRIDGE program to improve the firm’s diversity and inclusiveness. The program will provide mentoring and coaching opportunities for both new and veteran financial advisors within Edward Jones and complements the firm’s WINGS program geared toward women, which it overhauled this year. In June, Edward Jones Managing Partner Jim Weddle was one of more than 150 CEOs to sign the CEO Action for Diversity & Inclusion, the largest CEO-driven business commitment to advance diversity and inclusion in workplaces.
Morningstar Takes Portfolio Accounting to the Cloud
Morningstar has launched a new cloud-based practice and portfolio management platform for advisors. Morningstar Office Cloud brings client and investment data into a single system and tightly integrates with third parties. It also includes a client web portal, allowing clients to access reports on multiple devices. The web-based system features “real-time market monitoring capabilities, increased data security, customizable components such as an actionable dashboard and portfolio views, and the seamless delivery of Morningstar research,” the firm said. “The cloud architecture helps us deliver stronger data security and reduces mundane administrative work through outsourced data management, account aggregation, automatic market data, research updates, and flexible report management tools,” said Dermot O'Mahony, Morningstar’s head of software products.
NFL Kicker Looks to Kick Broke Athlete Stereotype
Athletes going broke after their careers are over is an all too common occurrence, but many are striving to break that stereotype. NFL punter Jeff Locke recently spoke with MarketWatch about an internship he did at an investment firm in 2015 and what he learned. “It starts with spending habits, [but also] comes down to expectations versus reality. Guys see this figure they’re going to get paid without taking into account taxes, union dues, agent fees and living expenses—then that number comes out to be well below half what they thought. Players need to wake up to that reality.” Furthermore, unscrupulous advisors often look to take advantage of this financial naivete. “The player assumes that because [an advisor] able to speak this [financial] language and give a fancy pitch, they can be trusted with money. I tell players that if an advisor cannot put his investing plan into terms you understand, he’s not right for you.”
