March 31, 2015 |
Your stockbroker is not a "fiduciary. " What exactly does that mean? Stockbrokers don't always have your best financial interest at heart. Don't get me wrong: I have friends (and family) who work on Wall Street. And many brokers do right by their clients, i.e. not pushing their firms' own fee-larded products on their investors. They are good people, but they are not fiduciaries. Before you sign on with a money manager, ask: Are you a fiduciary? If yes, great. If not, go in with your eyes open.
November 24, 2014 |
In Greek mythology, she is the goddess of war and wisdom. In Philadelphia's University City, Athena is a more earthly vessel, taking shape to make warriors of female entrepreneurs. DreamIt Athena is a rare business accelerator, exclusively for companies with at least one female founder. Announced this month and accepting applications until Dec. 8 at https://app.wizehive.com/appform/login/2015philly , the program to help women turn their ideas into fundable businesses with growth potential will launch in February with its first cycle of participants, a minimum of four companies.
August 27, 2014 |
Arthur T. Hilkert, 89, whose training as a Navy pharmacist's mate during World War II eventually led him to a civilian career representing U.S. drug manufacturers overseas, died Monday, July 28, at Our Lady of Lourdes Hospital in Camden following a stroke. Born in Canton, Ohio, Mr. Hilkert graduated from Lehman High School there and served in the Navy from 1943 to late 1945. After boot camp, he studied in a Navy program at St. Lawrence University in Canton, N.Y., and, as a pharmacist's mate, was stationed at what is now the Naval Medical Center in San Diego.
December 21, 2013 |
If you invest, you might have a run-in, a complaint, or a dispute with your broker. If you decide to fight them, here's a cautionary tale - and it's not pretty. Mark Mensack, independent fiduciary consultant and founder of Prudent Champion, went into a years-long arbitration with his former employer Morgan Stanley after blowing the whistle on hidden fees he thought customers shouldn't pay. Most customer-broker disputes don't go through a civil court. Your only option is arbitration through FINRA (Financial Industry Regulatory Authority)
July 20, 2013 |
NEW YORK - Earnings gains at major companies and encouraging economic news pushed stocks to record levels Thursday. A drop in claims for unemployment benefits signaled a healthier economy and encouraged investors to buy stocks. The Federal Reserve Bank of Philadelphia said manufacturing in its region grew this month at the fastest pace in more than two years. Among companies reporting second-quarter earnings, Morgan Stanley was one of the standouts, rising $1.16, or 4.4 percent, to $27.70.
January 20, 2013 |
NEW YORK - Better earnings from General Electric and Morgan Stanley helped the stock market inch higher Friday, as major indexes closed out their third straight week of gains. GE led the 30 stocks in the Dow Jones industrial average after the conglomerate reported stronger quarterly earnings, thanks to orders from Brazil, Angola and other developing countries. Profits increased at all seven of its industrial segments, including oil and gas, energy management, aviation and transportation.
January 5, 2013 |
From John Paulson's call for a collapse in Europe to Morgan Stanley's warning that U.S. stocks would decline, Wall Street got little right in its prognosis for the year just ended. Paulson, who manages $19 billion in hedge funds, said the euro would fall apart and bet against the region's debt. Morgan Stanley predicted the Standard & Poor's 500 Index would lose 7 percent, and Credit Suisse Group AG foresaw wider swings in equity prices. All of them proved wrong last year, and investors would have done better listening to Goldman Sachs Group Inc. chief executive officer Lloyd C. Blankfein, who said the real risk was being too pessimistic.
December 12, 2012 |
You might have invested in your retirement via 401(k) accounts, one of the primary vehicles by which we shoot for financial security after we stop working. We trust our employers to provide these plans at a low cost. Mark Mensack, a new cop on the 401(k) retirement beat, says we and our corporate plan sponsors might be getting ripped off. And he wants to help: Mensack's expertise is in the area of 401(k) hidden fees and ethical issues in the retirement-plan marketplace. He has 14 years of experience as a financial adviser with broker-dealers, and three as a registered investment adviser.
November 8, 2012
William Sword Jr., 61, managing director of the Princeton investment bank founded by his father, was struck and killed Oct. 29 by a tree that toppled as Hurricane Sandy swept across the Northeast. Princeton Township police found him trapped under the tree, "which had fallen on him as he cleared storm debris from his driveway," according to a police report. Mr. Sword was head of Wm. Sword & Co. since 1981. He joined the firm in 1976 after graduating from Princeton University. His father, William Sword, who died in 2005, helped start Morgan Stanley's mergers-and-acquisitions department as managing director in the 1970s.
September 12, 2012 |
NEW YORK - Investors spent Tuesday preparing for two events sure to move markets this week: a Federal Reserve meeting and a court decision on whether Germany can help support its struggling neighbors. And if the stock market's gains Tuesday are any sign, they expect both events to turn out well. The Dow Jones industrial average rose 69.07 points to close at 13,323.36. The average of 30 large company stocks has already gained 1.8 percent to start September, a month that is usually dismal for stocks.