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.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.
Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
