U.S. Treasury Secretary Janet Yellen said that cryptocurrency assets are a “very risky” choice to include in the retirement plans of average savers, and that it would be reasonable for Congress to address the danger.
“It’s not something that I would recommend to most people who are saving for their retirement,” Yellen said Thursday in Washington at an event organized by the New York Times. “To me it’s very risky investment.”
Yellen was responding to a question about an announcement from Boston-based Fidelity Investments in April that it would add a crypto option to workplace retirement plans it manages. The Labor Department has signaled its opposition.
Yellen said it would be reasonable for Congress to regulate what assets could be included in tax-favored retirement vehicles, like 401(k) plans.
“I’m not saying I recommend it, but that to my mind would be a reasonable thing,” she said of congressional action.
Two wirehouse veterans choose advisor-owned model as independents target ultra-high-net-worth clients beyond portfolio management.
Guardian's Nancy DeRusso tells InvestmentNews how advisors can help close the 'longevity gap'.
Goldman Sachs retirement survey finds 83% want guaranteed income, while the annuities providing that income increasingly hold private credit.
The AI meeting assistant's Advisor Intelligence plugin turns client conversation data into annual reviews, tax scans and attrition alerts.
Chuck Roberts and Stifel have been facing scrutiny due to sales of structured products and structured notes.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
