By Ross Snel
As part of an effort to grow its advice business, Vanguard has created a new advice and wealth management division and hired former Fidelity executive Joanna Rotenberg to lead it. At Fidelity, Rotenberg oversaw the company's retirement, brokerage, and wealth management businesses. Growing the wealth business is a priority of CEO Salim Ramji, who joined Vanguard from BlackRock in July.
In other most-read wealth management articles this week:
2025 stock market forecasts . After a stellar 2024 for investors, investment pros at wealth management firms are eyeing 2025 with various levels of optimism. We asked four experts to share their forecasts in this week's Barron's Advisor Big Q. Some are tempering expectations as the incoming Trump administration is talking about significant changes for federal policy and as consumer spending appears set to moderate, but all see market gains in the new year.
Vanguard and Robinhood see gold in wealth management . Vanguard and Robinhood are very different entities. One is a decades-old asset manager that championed low-cost index funds, while the other is a trading app that rose to prominence on zero commissions and the meme-stock craze. But both are making significant bets on wealth management, lured by its steady revenue and sticky customers.
Six tips on long-term care . Most of us will need long-term care at some point, but it can be very costly, so planning ahead is crucial. We checked in with financial advisors on how they help clients navigate their long-term care options, which include use-it-or-lose-it insurance policies, policies that come with a life insurance component, and even self-funding. The best choice depends largely on one's financial situation and family history.
SEC fines Morgan Stanley $15 million . The regulator alleged that Morgan Stanley's compliance policies and procedures failed to prevent four former financial advisors from stealing millions of dollars from their clients. The former advisors, all of whom have been barred from the industry, used two types of unauthorized third-party disbursements to misappropriate funds from client accounts, the SEC alleged. In settling the matter, Morgan Stanley neither admitted nor denied the allegations.
Bond investing myths debunked . Veteran financial planner Allan Roth contends that investors -- and even financial advisors -- can fall prey to myths about fixed income that can stand in the way of good financial decisions. In a column this week, Roth laid out what he considers the top three myths: Bonds are difficult to understand; bond funds are riskier than owning individual bonds; and bond interest rates are predictable. He then seeks to debunk them.
Write to Ross Snel at ross.snel@dowjones.com
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(END) Dow Jones Newswires
December 13, 2024 13:55 ET (18:55 GMT)
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