The average account balances in self-directed brokerage accounts within retirement plans such as 401(k)s held at Charles Schwab & Co. grew by 19% in 2019, to $294,105.
Asset allocation in those accounts remained largely the same over last year, according to a recent company report, with participants holding the largest portion of their assets in the form of mutual funds (37%), followed by equities (29%), exchange-traded funds (19%), cash (12%) and fixed income (3%).
Information technology dominated equity sector holdings (27%), with Apple continuing as the top overall equity holding, at 11%. The other equity holdings in the top five include Amazon (5.5%), Microsoft (2.6%), Berkshire Hathaway (2.4%) and Facebook (1.6%).
Most firms place a limit on advisors’ sales of alternative investments to clients in the neighborhood of 10% a customer’s net worth.
Those jumping ship include women advisors and breakaways.
Firms in New York and Arizona are the latest additions to the mega-RIA.
The agent, Todd Bernstein, 67, has been charged with four counts of insurance fraud linked to allegedly switching clients from one set of annuities to another.
“While harm certainly occurred, it was not the cataclysmic harm that can justify a nearly half billion-dollar award to the State,” Justice Peter Moulton wrote, while Trump will face limits in his ability to do business in New York.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
