FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
A financial advisor was one of three judges for Mayweather-Pacquiao (Hartford Courant)
“When they first announced the fight, my first thought was I’d love to get it,” noted Glenn Feldman, a financial advisor from Avon, Connecticut, who has also judged 125 title fights over the past 27 years. He found out he was a finalist for the gig in mid-April when he received a phone call from Bob Bennett, executive director of the Nevada Athletic Commission, and learned of his assignment less than two weeks before the welterweight fight. Feldman scored the fight 116-112 in favour of Mayweather.
Living inheritances could change the retirement picture (Think Advisor)
Living inheritances are a growing trend in America, and could reshape the retirement landscape. According to a recent HSBC report, 43% of retirees and 62% of workers are providing regular financial support to another person. The survey found almost 25% of respondents would rather spend all of their money than pass it along through inheritance. “Living inheritances add another dimension to the already complex financial pressures faced by retirees. A desire to support loved ones during your lifetime is of course understandable, but for many people this comes at a cost both to their retirement dreams and to their ability to leave a legacy,” Andrew Ireland, executive vice president and head of premier banking for HSBC Bank USA, noted in a statement.
SPONSORED BY Nationwide®
Retirement isn’t always easy to navigate — but with a robust collection of tools, products, and services, Nationwide® can simplify the details of some of life’s toughest retirement challenges. Find out how to help your clients reach the financial goals they want.
Ameriprise poaches more advisors (Financial Planning)
Ameriprise has brought more than $US450 million in assets under management on board after successfully poaching advisors from three firms. A team headed by Mike Schaefer announced it was leaving Waddell, and bringing $US153 million in assets to Ameriprise. Meanwhile, Brian Duelfer and James Motteler have left Wells Fargo, and are bringing a combined $US168 million in assets under management on board. Finally, former Securities America advisor Richard McMahon has signed on, bringing $US84 million in assets.
Lower income workers are improving their finances (Financial Advisor)
A report released by Financial Finesse shows the financial situation for lower income employees is improving. According the data 69% of workers making less than $US35,000 per year are paying bills on time, up from 65% in 2013. These workers are also able to put some money away as 23% had emergency funds in 2014, up from 20% the prior year. According to the survey, 44% 0f respondents said their biggest worry is not having control of their financial future.
Bond guru Jeff Gundlach discusses markets (Business Insider)
DoubleLine Funds co-founder Jeff Gundlach spoke Tuesday in front of an invite-only group of investors at the New York Yacht Club. Gundlach issued a warning on the high-yield space, noting in its 30 years of existence there has not been a secular rise in interest rates. A slideshow of the presentation can be viewed by clicking the link above.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.