FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
These are the 5 most expensive states for owning a car (GOBankingRates.com)
GOBankingRates.com published a study on the most expensive states for owning a car. They looked at six factors affecting the cost of owning a vehicle including the car sales tax, title fees, registration fees, average annual car insurance premiums, annual gas expenses, and average car maintenance and repair costs.
The most expensive state was Michigan, where the total cost of three years of car ownership came out to $15,314.53, followed by California, the District of Columbia, New Jersey, and Florida.
The cheapest state was New Hampshire at $8,098 for 3 years of car ownership, about $7,000 less than in Michigan.
Investors aren’t feeling too positive about Europe (Advisor Perspectives)
“European companies and equity markets’ performance has been a disappointment. The major underperformance of companies relative to expectations has made analysts pessimistic for this year as well, forecasting just 2.9% earnings growth for all of 2016,” writes LPL Financial’s Burt White.
“At this point, nothing in the political or economic environment is suggesting a significant reversal in this position; if anything, the political issues in Europe are adding uncertainty to the market. Given current valuations, we do not believe investors are being rewarded for this uncertainty. For the foreseeable future, we will remain cautious on the European market,” he added.
Here’s how to get started on a bond portfolio (Charles Schwab)
Many investors argue that bonds are good for diversification and stability. But the bond market is pretty complex, so it’s important to know what’s actually in one’s portfolio, writes Rob Williams.
“Dividing bonds into three categories — core bonds, international bonds and aggressive income bonds — can be a good start toward building a diversified fixed income portfolio,” he argues.
FINRA awarded $34 million to the estate of the co-founder of the Home Shopping Network, Roy M. Speer, in its claim against Morgan Stanley for churning his account, reports Mark Schoeff, Jr.
“The arbitrators also found that Morgan Stanley violated a Florida law against exploitation of vulnerable adults. It awarded $32.8 million in compensatory damages to Lynnda Speer, Mr. Speer’s widow and representative of the estate, as well as $1.5 million to reimburse costs incurred during the arbitration process, which spanned 13 months and involved 142 hearing sessions,” writes Schoeff.
17% of adults aged 65 or older report being victims of financial scams, according to the Investor Protection Trust (IPT). Although that number is pretty high, it is down from 2010 when 20% said they were victims, reports Karen Demasters.
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