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Older men may be the stereotypical U.S. wealth managers, but they are getting a run for the money from their younger and female counterparts, according to a survey released on Thursday by Fidelity Investments. On average, advisers under age 48 manage 16 percent more in client assets than those who are older, and women manage 5 percent more than male advisers, according to the survey, which was conducted in March.
To be sure, [...] From The Reformed Broker: In a market meltup, it’s difficult for an advisor to make the case to certain clients that bonds have a place in their portfolios. They look at their bond holdings with disdain during periods where they drag against a runaway stock market. These are the same clients who are furious that they’re fully invested through a correction, but that’s a whole other blog post… Fidelity Investments is out [...] On its one-year anniversary, Occupy Wall Street plans “occupations of corporate lobbies and intersections.” Handouts available on the group’s website list 40 “corporate targets” for action including such big names as Fidelity Investments, Federal Reserve Bank, and Standard & Poors. Protesters are encouraged to “wear business attire,” presumably so they can mix in with office workers. Occupiers, who hit the news in 2011 with tons of media fanfare, have faded into [...] More than one-quarter of American millionaires say they don’t feel wealthy, but they would if they had an extra $5 million. According to the Fidelity Investments’ Millionaire Outlook report, which surveyed more than 1,500 respondents, 26 percent of those polled said they did not actually feel rich. But despite that feeling millionaires control 40 percent of global wealth. They can easily be spotted in New York, where there are a reported 7,270 people [...] Reuters Fidelity Investments said it was working with “thousands” of brokerage clients affected by trading issues that have engulfed Facebook Inc’s much-anticipated initial public offering, according to a source familiar with the situation. The social media site’s IPO has been steeped in controversy since it started trading last Friday. Almost a week later, many investors have found that their orders for Facebook were not executed at the prices they thought, said advisers, who [...] As Spain’s recession undermines efforts to cut the deficit, the risk of bank losses is keeping 10-year yields at almost 6 percent as investors speculate the government will be forced to bail out the financial system. The nation’s 10-year borrowing costs have climbed about 70 basis points this year as Prime Minister Mariano Rajoy struggles to convince investors he can control public finances amid soaring unemployment and a contracting economy. Banks [...] It may be the worst possible job market for financial professionals in years but sometimes one has to draw the line. Like when moving across the Hudson river from Manhattan’s One World Financial Center building to Jersey City – that may well be the only logical time when one is allowed to say: “I don’t care about my bloated bonus or underserved compensation to buy the same stock that everyone [...] Fidelity Investments’ Mark Notkin, whose high-yield mutual fund beat all rivals over the past five years, said the rally in junk bonds is over and stocks are a better buy. The manager of the $12.8 billion Fidelity Capital & Income Fund is putting more money into equities and leveraged loans while cutting back on high-yield bonds, which have soared 80 percent since the start of 2009. “I don’t see the value in [...] In the wake of news about a spike in new applications for unemployment benefits comes another potentially troubling sign: A record number of workers made hardship withdrawals from their retirement accounts in the second quarter. What’s more, the number of workers borrowing from their accounts reached a 10-year high, according to a report issued Friday by Fidelity Investments. The trends reflect the financial stress many workers find themselves in as the [...] •About 37% of 18- to 29-year-olds have been underemployed or out of work during the recession, the highest share among the age group in more than three decades, according to a Pew Research Center study released in February. •This generation is the least likely of any to be covered by health insurance. Just 61% say they were covered by some form of a health plan, the Pew study said. •Only 58% pay [...] |
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