A financial advisor helped determine the outcome of the Mayweather-Pacquiao fight
A financial advisor was one of three judges for Mayweather-Pacquiao (Hartford Courant)
"When they first announced the fight, my first thought was I'd love to get it," noted Glenn Feldman, a financial advisor from Avon, Connecticut, who has also judged 125 title fights over the past 27 years. He found out he was a finalist for the gig in mid-April when he received a phone call from Bob Bennett, executive director of the Nevada Athletic Commission, and learned of his assignment less than two weeks before the welterweight fight. Feldman scored the fight 116-112 in favor of Mayweather.
Living inheritances could change the retirement picture (Think Advisor)
Living inheritances are a growing trend in America, and could reshape the retirement landscape. According to a recent HSBC report, 43% of retirees and 62% of workers are providing regular financial support to another person. The survey found almost 25% of respondents would rather spend all of their money than pass it along through inheritance. "Living inheritances add another dimension to the already complex financial pressures faced by retirees. A desire to support loved ones during your lifetime is of course understandable, but for many people this comes at a cost both to their retirement dreams and to their ability to leave a legacy," Andrew Ireland, executive vice president and head of premier banking for HSBC Bank USA, noted in a statement.
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Ameriprise poaches more advisors (Financial Planning)
Ameriprise has brought more than $450 million in assets under management on board after successfully poaching advisors from three firms. A team headed by Mike Schaefer announced it was leaving Waddell, and bringing $153 million in assets to Ameriprise. Meanwhile, Brian Duelfer and James Motteler have left Wells Fargo, and are bringing a combined $168 million in assets under management on board. Finally, former Securities America advisor Richard McMahon has signed on, bringing $84 million in assets.
Lower income workers are improving their finances (Financial Advisor)
A report released by Financial Finesse shows the financial situation for lower income employees is improving. According the data 69% of workers making less than $35,000 per year are paying bills on time, up from 65% in 2013. These workers are also able to put some money away as 23% had emergency funds in 2014, up from 20% the prior year. According to the survey, 44% 0f respondents said their biggest worry is not having control of their financial future.
Bond guru Jeff Gundlach discusses markets (Business Insider)
DoubleLine Funds co-founder Jeff Gundlach spoke Tuesday in front of an invite-only group of investors at the New York Yacht Club. Gundlach issued a warning on the high-yield space, noting in its 30 years of existence there has not been a secular rise in interest rates. A slideshow of the presentation can be viewed by clicking the link above.