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To Build Financial Success, Reach Out
What You Need to Know You likely understand how personal finance works. Many people do not. Nonprofit programs can connect them with you. April is Financial Literacy Month, and it shines a powerful light on the importance of financial literacy. This year’s Financial Literacy Month couldn’t be more critical, as the nation finds itself in the throes of a prolonged rising interest rate and high inflation environment while we all continue to monitor the situation playing out in the banking sector. For many, just figuring out how to pay the bills is a constant battle. Without a foundational understanding of financial systems, products and positive habits, it can be overwhelming.…
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How to Choose a Financial Advisor for Retirement
Our experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page. It might be a good idea to hire a retirement advisor if you’re within 10 years of retiring. A retirement advisor can help you refine your goals, develop an income drawdown strategy, and more. Above all, look for a retirement advisor who is a fiduciary. They are held to high ethical and legal standards that ensure your needs are met before their own. Loading Something is loading. Thanks…
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Opinion: Should you fire your financial adviser? Not if you’re angry about stock losses.
Nobody fires their financial adviser when the stock market is up. But when times get tough, no adviser does their job well enough. Consumers are as fickle over the managers of their money as the owners of pro sports teams are about the coaches they employ, but the big difference is that in sports there is always a winning team whereas a bad market can make everyone a loser. Warren Buffett has famously said that “only when the tide goes out do you learn who has been swimming naked.” In the world of consumer-adviser relationships, when the tide runs out, the customer sees issues with the adviser without recognizing the…
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FB Financial Announces Q1 Earnings with EPS Exceeding Analyst Estimate
On April 17, 2023, FB Financial (NYSE:FBK) announced its Q1 earnings, revealing earnings per share (EPS) of $0.76, which exceeded the analyst consensus estimate of $0.72 by 5.56 percent. This marks a 2.7 percent rise from the previous year’s earnings of $0.74 per share. However, the company’s quarterly sales of $127.24 million missed the analyst consensus estimate of $131.44 million by 3.19 percent, indicating a 2.93 percent decrease from last year. As of the same date, FB Financial’s stock price on the NYSE stood at $30.10, with a market cap of $1.4 billion. The company’s 52-week high and low are $45.25 and $29.12, respectively. With a cash-to-debt ratio of 1.65,…
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It’s Financial Literacy Month So Stop Wasting Time And Money On Financial Literacy Programs
Man reads book about personal finances. Financial literacy concept. getty OBSERVATIONS FROM THE FINTECH SNARK TANK April is Financial Literacy Month in the US, but it doesn’t matter what month it falls under because most efforts to improve “financial literacy” do little to improve the financial health of Americans. Financial Education Isn’t The Answer Conventional wisdom holds that Americans’ level of financial literacy is low and that therefore we need more financial education. There are problems with that “wisdom.” Problem #1: Financial education isn’t effective. Martha Menard found that, “One-size-fits-all financial education has little to no effect on changing real-world financial behaviors. A meta-analysis of more than 200 studies found…
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Former financial advisor Kristofer Ridgway reveals $6B investment scam
A former high-flying financial advisor at a top-level wealth management firm has made a grovelling apology after he was banned from working in the industry by the financial regulator for dodgy practices. Kristofer Ridgway was a senior advisor at the Brisbane offices of respected company Shaw and Partners until he was sacked in February 2022. A formal complaint from one of his clients triggered a company investigation which discovered Ridgway was secretly pouring millions of dollars in clients’ cash into unapproved investments in breach of the firm’s rules. ‘I don’t want to think of myself as a crook. But some of my actions in recent times have been terribly unlawful……
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