Female brokers are scarce within the wealth-management business. Of about 310,500 brokers within the U.S., solely about 16% are ladies, in accordance with analysis agency Cerulli Associates.
But brokerages are beginning to concentrate on increasing their ranks of girls, with Royal Bank of Canada’s U.S. wealth-management arm announcing yesterday the hiring of a $375 million all-female team.
Advisers Tracey Schusterman and Rosa Mazzone, together with two different associates, joined RBC Wealth Management’s New York department from UBS Group AG, the place they generated $2.7 million in charges and commissions yearly.
Ms. Schusterman and Ms. Mazzone had labored on the Swiss financial institution’s U.S. brokerage arm since 2009. Before that, they labored at Smith Barney.
Below, a few of the greatest evaluation and perception from WSJ writers and columnists, and infrequently past, on investing, the wealth-management enterprise and extra.
Not useful. Even as employers look to rent extra graduates from the category of 2017 than the earlier yr, the current crop of job-seeking seniors are ill-prepared for the job hunt and lots of coveted positions, a survey finds
Tuesday’s markets. The Nasdaq Composite raced past 6000 for the first time, climbing zero.7% to 6025, the newest signal that know-how corporations have grow to be a driving drive? within the current stock-market rally. The Dow Jones Industrial Average increased 1.1% to 20996, and the S&P 500 added zero.6%.
Speaking of the Nasdaq. The index’s surge above 6000 has been fueled by simply 5 shares. That’s probably a sign of a market that is getting closer to the end of a cycle.
PLANNING AND INVESTING
Fund Fiend. Some target-date funds aimed at those currently near retirement age face bumps as rising rates of interest weigh on the costs of huge chunks of rate-sensitive bondholdings.
Housing costs too scorching? A dearth of latest development and powerful demand from consumers are pushing up U.S. residence costs twice as quick as the speed of revenue progress, the newest knowledge present, a level economists said is unsustainable.
Cashing in. New lenders give individuals a method to get money from their homes, cars—even unused vacation days.
BUSINESS AND PRACTICE
Adviser Voices. Evan Schmidt, vice chairman of Schmidt Financial Group, says technology professionals and entrepreneurs can be rewarding clients for monetary advisers in the event that they adapt to their demanding methods.
– Morningstar Investment Conference / Chicago, April 26-28
– Advicent Innovation Summit / New York, May 18
– NAPFA Spring National Conference / Bellevue, Wash., May 16-19
– Fi360 Conference / Nashville, Tenn., May 21-23
– CFA Institute’s 70th Annual Conference / Philadelphia, May 21-24
– FPA NorCalConference / San Francisco, May 30-31
– AICPA Engage 2017 / Las Vegas, June 12-15
– FPA NexGen Gathering / Chicago, June 23-25
– In|Vest 2017 / New York, July 11-12
– RIIA Summer Conference 2017 / Salem, Mass., July 17-18
– XYPN17 And FinTech Competition / Dallas, Aug. 28-31
– Insider’s Forum 2017 / Nashville, Tenn., Sept. 6-Eight
– APFA Financial Advisor Boot Camp / Los Angeles, Oct. 5-6
– ADISA 2017 Annual Conference / Las Vegas, Oct. 23-25
– IMCA Private Wealth Advisor (PWA) 2017 / Chicago, Oct. 16-17
– FPA Minnesota 2017 Annual Symposium / Minneapolis, Oct. 16-17
– FinCon 2017 / Dallas, Oct. 25-28
– The SRI Conference / San Diego, Nov. 1-Three
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SOURCE: MoneyBeat – Read complete story here.