Employer-sponsored retirement plans are providing less income than in the past, which means retirees are likely to be more dependent on Social Security, according to a study by the Center for Retirement Research. So reports ThinkAdvisor.
Patrick Churchville, who pleaded guilty last summer to various counts of wire fraud and one count of tax fraud as part of a $21 million Ponzi scam involving more than 100 clients, has been sentenced to seven years in jail. So reports Financial Planning.
A new study by Swiss research firm MyPrivateBanking has concluded that few advisors have reached out to millennials, even though massive amounts of wealth are expected to be transferred to the category of investors. So reports Wealth Management.
BlackRock has cut its bonuses from 2% to 4% while Fidelity is offering buyouts that involve providing up to two years of salary and benefits to employees age 55 or older with at least 10 years of service. So reports Barron’s.