Ceros Financial Services announces a collaboration agreement with Forte Capital Group
MIAMI, July 28, 2022 /PRNewswire/ — Zero Financial Services announced that it has reached a partnership agreement with Forte Capital Group, a financial advisory firm based in New York with approximately 1 billion dollars in client assets and 45 registered representatives and its subsidiary, Innovation X Advisors, a leading late-stage venture capital firm. The Innovation X fund family is over 2 billion dollars of capital commitments and have made many successful exits, including Airbnb, Spotify, Uber, Palantir and Pinterest. Terms of the transaction were not disclosed. “We think Forte will be a highly strategic addition to both our Ceros Capital…
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Cincinnati Financial reports second-quarter net loss of $808 million
Cincinnati Financial Corporation has reported a net loss of $808 million for the second quarter of 2022, down from net income of $703 million in the same period last year. The loss was primarily due to the recognition of an after-tax write-down of $928 million in the fair value of equity securities still held, the firm noted. The company also reported a $1.511 billion decrease in net income for the second quarter of 2022, compared to the same period last year, primarily due to the net after-tax effect of a $1.323 billion decrease in net investment earnings and a $216…
Read More »LPL Financial and Perennial Financial Services Welcome to Eddie Chan | news
CHARLOTTE, NC, July 28, 2022 (GLOBE NEWSWIRE) — LPL Financial LLC (Nasdaq: LPLA) announced today that financial advisor Eddie Chan has joined LPL Financial’s brokerage, RIA and custody platforms, joining Perennial financial services, an existing company that supports LPL Affiliate Advisors. Chan reported serving approximately $110 million in advisory, brokerage and retirement plan assets* and joins LPL from Ameriprise Financial. Chan first showed an affinity for finance when he experienced Black Monday in October 1987. Motivated to help clients improve their financial education and manage their complete financial picture, Chan launched his career 30 years. He believes in a holistic,…
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Stock Market News Live Updates: 28 July 2022
Stocks opened Thursday’s trading session higher after new data showed the US economy contracted for the second quarter in a row in the second quarter. Shortly after the opening bell, the S&P 500 and Nasdaq were up about 0.3%, while the Dow was up 0.2%. Commerce Department data released Thursday morning showed GDP growth fell to an annualized rate of 0.9 percent in the second quarter, marking the second quarter in a row that we’ve seen a drop in economic activity. Thursday’s early move followed strong gains seen on Wednesday after the Federal Reserve offered an expected 75 basis point…
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US enters technical recession after second quarter growth contraction
The US economy slipped into a technical recession in the second quarter, with data released Thursday by the Commerce Department showing a contraction in the second quarter of the year. Gross domestic product fell 0.9% on an annual basis in the second quarter, or 0.2% from the previous quarter, the measure used by other major economies. This comes on the heels of first-quarter gross domestic product data showing the US economy shrank by 1.6 percent. Despite the contraction, personal consumption, which provides a glimpse into the health of the American consumer, grew 1 percent, a slowdown from 1.8 percent in…
Read More »Financial benefits support stress-free workers
Forward-thinking employers, especially those with many hourly workers, are increasingly recognizing the need for a “financial security” strategy — that their compensation and benefits offerings should foster a workforce with less financial anxiety and stress. Being able to apply this strategy is a key way for HR and benefits professionals to deliver incredible strategic value not only to the company, but also to their workers. According to the Federal Reserve, nearly 40 percent of Americans don’t have enough money saved to cover a $400 unexpected expense, and that number rises for women, blacks and Latinos, and those making less than…
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LPL Financial and Perennial Financial Services Welcome
CHARLOTTE, NC, July 28, 2022 (GLOBE NEWSWIRE) — LPL Financial LLC (Nasdaq: LPLA ) today announced that financial advisor Eddie Chan has joined LPL Financial’s brokerage, RIA and custody platforms, joining Perennial Financial Services, an existing company. company that supports LPL Affiliate Advisors. Chan reported serving approximately $110 million in advisory, brokerage and retirement plan assets* and joins LPL from Ameriprise Financial. Chan first showed an affinity for finance when he experienced Black Monday in October 1987. Motivated to help clients improve their financial education and manage their complete financial picture, Chan launched his career 30 years. He believes in…
Read More »Envestnet’s national study examines the keys to unlocking Americans’ complicated financial relationships
Envestnet’s study, conducted in partnership with The Center for Generational Kinetics, reveals that advisors who offer compelling digital services alongside traditional in-person advice are best positioned for growth. BERWYN, Pa., July 28, 2022 /PRNewswire/ — Envestnet released the findings of its first national study, “The Intelligent Financial Life: The Unexpected Intersection Between Technology, Clarity, and the Human Connection,” led in collaboration with The Center for Generational Kinetics, which discover surprising trends and attitudes. and the behaviors that Americans have across generations around the integration of financial advisors with new technologies to help them achieve their financial goals. To learn more…
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