All cash deals are at an all-time high and that's a bad sign for the market
The number of all cash corporate takeovers is at a worrying level (Trim Tabs)
Trim Tabs says cash takeovers in the US from May through October totaled $457.8 billion, the highest amount on record for a six-month stretch. The research firm notes the period of February 2007 through July 2007 was the previous peak, topping out at $406.5 billion. In addition, the month of October recorded the largest month ever for all-cash deals, reaching $97.5 billion. Trim Tabs chief executive officer, David Santschi, warns, "Merger activity tends to swell around market tops as confident corporate leaders turn to deal-making to boost earnings and revenue late in the economic cycle."
The list of 'too big to fail' banks is out (Business Insider)
The Financial Stability Board, a group designed by the G20 to identify what it calls global systemically important banks, has released its updated list. The list was broken down into five buckets based on importance to the global financial system, but no bank ended up in the fifth bucket. HSBC and JPMorgan Chase were the only banks in the fourth bucket, making them the most GSIBs. The only change this year was the addition of China Construction Bank, which replaced the Spanish lender BBVA in the first bucket.
5 tips to take full advantage of your HSA (HealthEquity)
It's open enrollment season for many healthcare plans, and many Americans don't realize how to take full advantage of their health savings accounts (HSAs). HealthEquity Founder and Vice Chairman Steve Neeleman has five tips for people who want maximize their benefits from the program. Neeleman says to know which expenses qualify as part of the plan; find out if you can use your HSA as an investment vehicle; understand the rules for tax-free withdrawals; use your account wisely and make sure to contribute the maximum.
LPL Financial has a new internship program (Think Advisor)
LPL Financial and Private Advisor Group have joined forces to create a college internship program, Think Advisor reports. "The program is designed to provide students with the skills necessary to quickly become a valuable asset for the financial advisor offices," Jen Gloss, senior vice president of client experience and training at Private Advisor Group, said. The partnership hopes to get the program up and running by winter break and has a goal of hiring at least 100 interns during 2016.
BlackRock launches iRetire (BlackRock)
BlackRock announced the launch of iRetire, a tool that helps advisors fill their clients' retirement income gap. BlackRock says the average baby boomer is hoping to generate an income of $45,500 during retirement, but the average nest egg has grown to just $132,000, making for a yearly income of about $9,129 during the golden years. According to BlackRock, the program is designed to "show investors where they stand today and how they could potentially get where they want to be at retirement" by evaluating retirement income rather than the outdated concept of a nest egg.