Financial literacy matters.
The GameStop fiasco brought that to the fore. The rise and fall of the stock in recent months reminded me of the battles that erupted around the advent of “Mad Money.” I bore witness to the explosion of Jim Cramer’s “Mad Money” on to the investing scene. The show straddled the line between game and clinic, and while most attention was paid to the games and the booyahs, there were lessons in most episodes, as Jim strived to educate.
On one hand, more people participating in wealth management is a positive for the markets. But blindly following Reddit characters or second-hand reports of “Buy! Buy! Buy!” opens the dark side of investing.
Therefore, we should give credit to people that cheer for those leaders who strive to create a financially literate community — and that’s what we’ve done in this issue.
In our cover story, Mark Schoeff Jr. and Nicole Casperson report on adviser reaction to the GameStop mania. And then we hear from a number of practitioners on why they are doing the work they’re doing to provide necessary access to finance. Thank you to Kate Healy, Luis Rosa, Dan Otter, Cindy Couyoumjian, and Cristina Livadary.
A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.
Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
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.
