The landscape of the financial planning industry is changing rapidly with the growth of technology, and everything these days seems to be moving towards automation. So can a computer algorithm or a mobile app replace the need for financial advisors, or is there still value in a traditional financial advisory relationship? An influx of robo-advisors.
Month: October 2021
Let’s Dance the 2-Step! Tax advisors and affluent Americans have been working hard to place ownership interests in LLCs and other entities holding their investments under specially designed irrevocable trusts, as gifts or in exchange for promissory notes, in order to have arrangements in place well before the signing of a new estate tax law
boonchai wedmakawand | Moment | Getty Images Crypto enthusiasts had reason to cheer last week as digital currencies notched another milestone: the first U.S. bitcoin futures exchange-traded fund. Investors rushed in. The ProShares Bitcoin Strategy ETF (BITO) had the second-biggest trading debut for any ETF on record when it launched Oct. 19. Its share price
With Los Angeles home prices hitting stratospheric levels, some buyers are looking elsewhere. For the same price they might spend on a teardown, buyers are considering authentic properties, estates, and timeless mansions worldwide, including France. Looking for prime real estate abroad is a time-honored tradition. In 170, Malcolm Forbes purchased and restored the 17th-century Chateau
World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus attends a ceremony to launch a multiyear partnership with Qatar on making FIFA Football World Cup 2022 and mega sporting events healthy and safe at the WHO headquarters in Geneva on October 18, 2021. Fabrice Coffrini | AFP | Getty Images Covid-19 cases and deaths are climbing
In this article AAPL Apple revenue fell short of Wall Street expectations in its fiscal fourth quarter on Thursday, which Apple CEO Tim Cook attributed to larger-than-expected supply constraints on iPhones, iPads, and Macs. Apple fell over 4% in extended trading. “We had a very strong performance despite larger than expected supply constraints, which we estimate to
Stock futures dipped in overnight trading Thursday as shares of major technology companies suffered following disappointing earnings reports. S&P 500 futures fell 0.3% and Nasdaq 100 futures traded 0.6% lower. Futures on the Dow Jones Industrial Average were flat. Amazon shares dropped more than 3% in extended trading after the e-commerce giant badly missed earnings
Paige Montgomery with daughter Penelope Paige Montgomery Women have been disproportionately impacted by job loss during this pandemic, and mothers have been hit even harder. Since February 2020, the economy has experienced a decline of nearly 5 million jobs — and women account for 57.5% of those losses, according to the National Women’s Law Center.
The past few years have been quite busy in the financial and wealth planning world. With the federal transfer tax exemptions currently at $11.7 million1, many clients have considered making gifts for future generations utilizing a variety of structures. The primary focus is on trusts and the options available in that arena. Trusts can be
What tax hikes are in the social policy and climate change bill that Democrats are trying to pass by year-end? It depends what day it is. The latest version, a revised $1.75 trillion Build Back Better Framework, released today by the White House, is a pared down version of the earlier $3.5 trillion plan. It’s
President Joe Biden delivers remarks on his proposed Build Back Better social spending bill in the White House on Oct. 28, 2021 Chip Somodevilla | Getty Images News | Getty Images The White House issued a framework for a $1.75 trillion social and climate spending bill on Thursday — and would finance more than half
Some place names immediately evoke vivid imagery. Wild Horse Island is one such spot. The largest island on northwest Montana’s Flathead Lake, the refuge was used by indigenous people for centuries to house, protect and pasture horses. In the early 1900s, homesteaders cut down many of the trees and introduced non-native plants. The island has
U.S. President Joe Biden speaks about the status of coronavirus disease (COVID-19) vaccinations and his administration’s ongoing pandemic response in the State Dining Room at the White House in Washington, May 4, 2021. Jonathan Ernst | Reuters The White House on Thursday unveiled a new plan to expand several federal health-insurance programs to lower costs
In this article YUM Yum Brands on Thursday reported quarterly earnings and revenue that topped analysts’ expectations, fueled by strong demand for KFC’s fried chicken. However, with late-night and breakfast sales still pressured by the pandemic, Taco Bell’s performance was weaker than expected, and led to a shortfall in Yum’s same-store sales growth. Shares of the company
Alchemy co-founders Nikil Viswanathan (left) and Joe Lau. Source: Alchemy Start-up Alchemy is benefiting as more companies try to future-proof their businesses by adapting their technologies to the blockchain and through digital collectibles. The San Francisco-based company announced a $250 million funding round on Thursday, boosting its valuation to $3.5 billion. The Series C financing,
Twitter and Square CEO Jack Dorsey recently issued a dire economic prediction, complete with a frightening phrase: hyperinflation. “Hyperinflation is going to change everything. It’s happening,” Dorsey tweeted on Oct. 22. Later, in response to a follower’s follow-up question, Dorsey added that “[hyperinflation] will happen in the U.S. soon, and so the world.” Such an
On Monday, as Tesla shares surged—adding another $26 billion to Elon Musk‘s now $254 billion fortune—certain Democrats in Congress were working away on a proposed new tax on billionaires. Then, in the early hours of Wednesday morning, Senate Finance Committee Chairman Ron Wyden (D-OR), unveiled a 107-page plan that would extend the federal long term
Anchiy | E+ | Getty Images Middle-class U.S. households have limited financial assets and may face retirement insecurity, according to an analysis from the National Institute on Retirement Security, a non-profit, non-partisan research and education organization. The study looked at financial assets by generation, net worth and race, based on data from the Federal Reserve’s Survey of Consumer
The pandemic has left many small businesses battered and bruised. Others were killed off entirely by the impact of the Covid-19 virus. But for many emerging proptech firms in the commercial real estate space, the Covid era has been a boon to business. So says Daniel Tropp, president and founder of Brooklyn, N.Y.-based AEBOV Industrial
Trial attorney Jeff Harris said that a question of negligence on the “Rust” movie set following the fatal shooting of cinematographer Halyna Hutchins could come down to the level of firearm training that actor Alec Baldwin received. “It may ultimately boil down to really a question of whether or not the actor was appropriately trained
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