As President-elect Donald Trump prepares to return to the White House, among his proposals that are being scrutinized is his plan to end taxes on Social Security benefits. During the campaign, Trump wrote on his Truth Social platform, “Seniors should not pay taxes on...
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Financial News
Study finds national retirement plan could decrease wealth for many workers at retirement
New research from Morningstar examines the impact of The Retirement Savings for Americans Act (RSAA), according to Financial Advisor. The legislation, introduced in Congress in October 2023, would create a federal retirement plan that automatically enrolls workers...
BofA employees will be required to take most disputes to arbitration instead of courts
Employees of Bank of America Corp. (BofA) will now be required to utilize private arbitration for resolving most legal disputes with the company, according to a report by Bloomberg News and Financial Advisor. The policy change by the nation's second largest bank is...
Federal Reserve cuts interest rates again following weak jobs report
The Federal Reserve cut its key interest rate by a quarter-point last week as expected following a weak employment report for October, InvestmentNews reports. The cut, which followed a half-point reduction in September, reduced the Fed's benchmark rate to a target...
Some firms overpaying to recruit brokers, Ameriprise CEO tells analysts
The stiff competition to recruit brokers in the financial industry was among the topics addressed by Ameriprise Financial Chief Executive James Cracchiolo on the company's earnings call recently, AdvisorHub reports. Cracchiolo told analysts that Ameriprise's roster of...
