You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Some financial advisors are still falling short of ad rule compliance, according to a new risk alert from the Securities and Exchange Commission. According to the risk alert released Tuesday, SEC staff found advisors “using testimonials and endorsements that did not appear to comply with all or some of the requirements” for using testimonials and endorsements (which are allowed with restrictions u ...

Group 1 - The importance of having enough money to retire is emphasized, highlighting that consistent contributions to an IRA or 401(k) do not guarantee a sufficient nest egg. A financial advisor can assist in investing retirement savings effectively and calculating a savings goal to ensure individuals are on track throughout their careers [3] - Ensuring that retirement funds do not run out is crucial. A financial advisor can help develop a withdrawal strategy tailored to individual income needs, health, and life expectancy, ensuring the nest egg lasts throughout retirement [4] - The timing of claiming Social Security benefits is a significant decision. A financial advisor can provide strategic advice on when to file for benefits, considering factors such as income requirements and health, and can help coordinate claims for couples to maximize benefits [7][8] Group 2 - Maintaining purchasing power in the face of inflation is a concern for retirees. While Social Security benefits adjust for inflation, rising living costs can erode retirement savings. A financial advisor can assist in creating a portfolio that protects against inflation [9]

Core Viewpoint - Willis Towers Watson announced a registered offering of $700 million in 4.550% senior unsecured notes due 2031 and $300 million in 5.150% senior unsecured notes due 2036, with the offering expected to close on December 22, 2025 [1] Group 1: Offering Details - The total principal amount of the offering is $1 billion, consisting of $700 million in 2031 notes and $300 million in 2036 notes [1] - The notes will be fully and unconditionally guaranteed by the company and certain subsidiaries [1] Group 2: Use of Proceeds - If the Newfront acquisition closes, the net proceeds will be used to pay for the acquisition and related expenses, and to repay $550 million of 4.400% senior notes due 2026 [2] - If the Newfront acquisition does not close, the proceeds will be used to repay the 4.400% senior notes due 2026 and redeem the 2036 notes through a special mandatory redemption [2] - Any remaining proceeds will be allocated for general corporate purposes [2] Group 3: Management and Regulatory Information - The joint book-running managers for the offering include J.P. Morgan Securities, Barclays Capital, and several other financial institutions [3] - The offering is made under an effective shelf registration statement with the SEC, and interested parties can obtain the prospectus through specified contacts [3]

Group 1 - The article discusses the appeal of investing in certificates of deposit (CDs) due to their high interest rates, suggesting that a 5% return with no fees is more attractive than hiring a financial advisor who charges around 1% of assets annually [1][2] - It emphasizes that while CDs offer low-risk, guaranteed returns, relying solely on them may not align with long-term financial goals and objectives [2][4] - The article highlights the importance of a diversified investment strategy, as a financial advisor can help create an asset allocation plan that balances risk and provides liquidity throughout different life stages [4][5] Group 2 - The discussion includes the risks retirees face, such as outliving their assets, and the need for a comprehensive asset allocation that considers longevity risk and unexpected expenses [6][7] - It points out that advisory fees can be justified by the holistic financial planning and management services that advisors provide, which encompass various aspects like Social Security, taxes, and estate planning [7]

Egoitz Bengoetxea Iguaran from Getty Images and JJ Gouin from Getty Images Quick Read Ramsey advises claiming Social Security at 62 and investing it instead of waiting for larger benefits at 70. Delaying from 62 to 70 increases a $2,000 monthly benefit to $2,480 with no market risk. Most retirees need Social Security income for expenses and lack discipline to invest every dollar. A recent study identified one single habit that doubled Americans’ retirement savings and moved retirement from dream, ...

Core Insights - The article emphasizes the importance of financial literacy and discipline for individuals in their 50s as they prepare for retirement, highlighting that financial security should take precedence over material possessions [1][5][20]. Financial Planning for Retirement - Individuals in their 50s have approximately 10 to 15 years left to eliminate debt and prepare for retirement, making it crucial to assess spending habits and prioritize financial security [3][6]. - Dave Ramsey's advice is particularly relevant for this age group, as he provides straightforward guidance on avoiding bad financial behaviors and creating a roadmap for a stable retirement [4][5]. Key Financial Principles - The article outlines several key quotes from Dave Ramsey that serve as guiding principles for financial management: - "If you will live like no one else, later you can live like no one else," which encourages individuals to set their own financial goals rather than conforming to societal pressures [7]. - "A budget is telling your money where to go instead of wondering where it went," emphasizing the importance of budgeting as a tool for financial control [8][11]. - "Act your wage," which stresses the necessity of living within one's means to avoid unnecessary debt as retirement approaches [12]. - "Dreaming also has a negative connotation as well," highlighting the need for proactive steps to achieve financial goals rather than merely dreaming [19]. Lifestyle Adjustments - The article discusses the potential need for lifestyle changes, such as downsizing or cutting back on non-essential expenses, to achieve financial freedom and stability [13][16]. - It acknowledges the emotional challenges associated with making these changes, particularly in social contexts [13]. Importance of Financial Education - The article underscores the significance of financial literacy, stating that understanding how money works is essential for making informed financial decisions [14][18]. - It encourages individuals to seek knowledge on budgeting and investing to ensure their money works for them, ultimately leading to better financial outcomes [18]. Conclusion - The article concludes that it is never too late for individuals in their 50s to pursue their financial goals, emphasizing that knowledge and discipline can lead to a more enjoyable retirement [20][24].

Austin Dean is the founder and CEO of Waystone Advisors.Courtesy of Austin Dean Wealthy individuals tend to use non-traditional investment strategies. They favor cash value life insurance, securities-backed lines of credit, and real estate. These methods can offer flexibility, tax advantages, and earlier access to investment funds. When Austin Dean started taking classes to earn his various financial advisor certifications, he didn't fully buy into the curriculum. It revolved around more traditi ...

Core Insights - Robo-advisors provide a low-cost alternative to human financial advisors, particularly appealing to investors with smaller portfolios and those who are digitally savvy [2][3][5] - The robo-advisor market is growing due to the increasing number of millennial and Gen Z investors who prefer technology-driven financial management and personalized services [2][3] - Robo-advisors typically charge lower fees compared to traditional advisors, with median fees around 0.25% as of 2024, while human advisors often charge around 1.0% [1][4] Fee Structures - Human advisors predominantly charge AUM fees, with 92% incorporating them in some form, while robo-advisors have a median fee of about 0.25% [1][2] - Robo-advisors may have additional fees related to underlying funds, account maintenance, or trading, which should be considered beyond the flat monthly fee [3][6] Accessibility and Appeal - Robo-advisors are accessible with low minimum investment requirements, with some platforms allowing accounts to be opened with as little as $50 [4][5] - They cater to both beginners seeking a hands-off approach and experienced investors comfortable with online portfolio management [5][6] Performance and Value - A study by Vanguard indicated that investors using human advisors estimated an average annual return of 15%, while those with digital advisors estimated 24%, though younger, more aggressive investors skewed the results [9] - Human advice is perceived to add more incremental portfolio value compared to digital-only advice, with a 5% perceived value-add for human advice versus 3% for digital [9] Legal and Ethical Considerations - Robo-advisors may face legal challenges regarding fiduciary duties, as algorithms could potentially prioritize company interests over client interests [9][10] - Hybrid models that combine robo-advisory services with human guidance are emerging, offering a balance of automation and personal support [10]

Comstock from Photo Images and juststock from Getty Images Key Points The couple has $3M in savings plus $85K in annual teacher pensions that together exceed their projected spending needs. Upcoming major expenses include a $300K home upgrade and two weddings but their pension income alone covers most living costs. They are debt-free and live in a low cost-of-living area which gives them significant financial flexibility for early retirement. If you’re thinking about retiring or know someone who i ...

Lazard (NYSE:LAZ) Conference Summary - December 10, 2025 Company Overview - **Company**: Lazard - **CEO**: Peter Orszag, who assumed the role on October 1, 2023, and became Chairman on January 1, 2025 [1][3] Key Points Cultural and Structural Transformation - Significant transformation within the advisory division, with 87 managing directors separated and 91 hired or promoted over two years [3][4] - Currently, 40% of managing directors are in their first three years, expected to decrease to 30%, which could increase productivity by approximately $1 million per managing director [4][5] Market Positioning and Growth Opportunities - Increased client emphasis on "contextual alpha," which involves comprehensive analysis for decision-making in M&A and financing [6][7] - Advisory revenue from private capital has grown from 25% in 2019 to 40% currently, with a target of 50% [8][9] - Anticipation of strong M&A activity in 2026, driven by private equity sponsors needing to return cash to LPs, alongside ongoing restructuring and liability management [9][10] Economic and Regulatory Environment - The U.S. economy is increasingly reliant on AI, with growth concentrated in AI sectors while non-AI sectors lag [22][23] - The regulatory environment for M&A has become more accommodating, but requires nuanced strategies to navigate [26][27] Advisory and Asset Management Insights - Strong expectations for European IPOs due to private companies growing too large for alternative exits and regulatory simplifications [30][33] - Lazard is well-positioned to capitalize on opportunities in the Middle East, particularly with sovereign wealth funds across various sectors [34][35] Future Strategic Directions - Focus on expanding the Private Capital Advisory (PCA) business and enhancing restructuring services due to increased demand [39][40] - New leadership in asset management under Chris Hoffman, with a focus on active management strategies and AI integration [41][42] Financial Performance and Projections - Projected positive net inflows for 2026, with year-to-date net inflows of $8.7 billion, excluding a previously mentioned low-fee account [13][50][51] - Targeting a 60% or lower compensation ratio, with revenue per managing director as a key driver for operating leverage [53][54] Capital Return Strategy - Plans to offset dilution from deferred compensation and explore inorganic growth opportunities while maintaining discipline [58] Additional Insights - The cultural transformation within Lazard has been noted as remarkable, contributing to a more vibrant internal environment [11] - The firm is committed to leveraging AI to enhance its competitive edge in the market [24][57] This summary encapsulates the key insights and strategic directions discussed during the conference, highlighting Lazard's focus on growth, transformation, and market positioning in the evolving financial landscape.