FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
Monica Lewinsky will speak at the Peak Advisor Alliance Excell conference (Investment News)
Peak Advisor Alliance founder Ron Carson announced Monica Lewinsky will be the keynote speaker at this year’s Excell fall conference. Carson says he chose Lewinsky because she is willing to talk about her darkest moment and that she will be a “great example of how we can use that same transparency.” According to Investment News, Carson thinks Lewinsky will be able to teach advisors to think about what they say and how they say it and that once something is said it cannot be taken back. The conference will take place October 7-9.
A Bankrate survey that accompanied its Financial Security Index for August showed that 1 in 10 Americans saved nothing towards retirement this year or last year, the highest reading since 2011. Additionally, millennials were the least likely group to save. However, Bankrate says there was some good news, as 19% of Americans said they are saving more money for retirement this year than last.
Chinese Premier Li Keqiang has famously suggested electricity consumption, rail volume and bank loans are the only measures needed to gauge the rate of growth for the Chinese economy. According to London-based consultancy Fathom, a look at these indicators suggests the Chinese economy is growing somewhere at a rate of close to 3.1%, China’s official growth rate has been reported at 7.0%.
Harvard professor Robert Kaplan has been named Richard Fisher’s successor as president of the Dallas Fed. Kaplan leaves Harvard after 10 years, where he served as a professor of management practice and a senior associate dean at Harvard Business School, according to Bloomberg. Prior to Harvard, Kaplan spent 22 years at Goldman Sachs, reaching the role of vice chairman of investment banking before his departure. Kaplan will begin at the Dallas Fed on September 8.
Americans want retirement guidance(Financial Advisor)
A study conducted by American Century Investments discovered 90% of respondents between the ages of 24 and 65 wished they had begun saving for retirement sooner. According to Financial Advisor, an astounding 90% of pre-retirees who responded to the survey believe their standard of living during retirement will be equal to, or worse than, their current lifestyle. The survey also found 70% of workers would have no problem if an employee-sponsored plan increased paycheck withholdings until maxing out their 401(k).
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