More than half — 57% — of Americans who took an eight-question quiz measuring financial literacy flunked, according to the National Financial Educators Council, which created the quiz. Some 10,508 people participated in the NFEC’s test, which asked questions about inflation’s impact on purchasing power and bond prices, among other things.
The group also surveyed 1,251 people around the U.S., asking where they turn for financial advice. Just under 40% said they turned to parents, family, friends, or coworkers; 35.9% said financial professionals; and 24.4% said they don’t have anyone trusted to turn to.
Carson Group's Dani Fava, Jason Pereira of Woodgate Financial, and Sally George of Convergency Partners led the raise as the growth-tech startup builds out its AI platform and leadership bench.
New teams from William Blair, Ameriprise and UBS bring more than $560 million in combined client assets to the firm's employee and independent channels.
Regulators this year approved UBS Bank USA’s conversion to a nationally chartered bank.
How a subprime lender’s car-loan bonds allegedly unraveled before bankruptcy.
Retirees without an updated plan report nearly 70% moderate-to-high stress – and advisors have room to close the gap.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
