There are now firms that'll finance your divorce, but it'll cost you
Litigation funding is a hot investment (Wealth Management)
Divorces can get ugly, especially when lots of money is at stake. Wealth Management notes, "As the divorce process begins, it's not uncommon for the spouse with the financial power during the marriage to declare war against their former partner by cutting off credit cards, draining bank accounts, hiding assets and hiring the best, and most litigious, legal talent, sending their estranged partner into a financial and emotional tailspin." Now that's about to change as firms like BL Churchill Divorce Financing, Balance Point and Novitas US are willing to provide funding to those spouses who are fighting for millions of dollars. According to Wealth Advisor, the funding can "pay for legal costs, forensic accountants and even living costs, until a divorce is obtained." However, it doesn't come cheap. Firms charge interest of as high as 16% to 20% and retainers are often required.
Albert Edwards says there's a 99.7% probability this is a bear market (Business Insider)
Societe Generale strategist Albert Edwards says there is a 99.7% probability this is the start of a bear market for stocks. Business Insider says Edwards, a noted permabear, "indicates the recent outperformance of just a few high-quality stocks has led to a correlation between investing strategies that favor quality earnings and price momentum." Edwards also says its highly doubtful the world's developed economies can decouple from emerging markets, which are currently in turmoil.
BlackRock bought a robo-advisor (Think Advisor)
BlackRock has entered the automated advisory service space with the purchase of FutureAdvisor, the fifth largest robo-advisor firm. Terms of the deal were not disclosed. A statement released by BlackRock says FutureAdvisor will operate under its BlackRock Solutions technology platform, "enabling financial institutions to grow their advisory businesses by leveraging technology to meet a growing consumer trend." Followers of the robo-advisor space believe the acquisition opens the door to the possibility that WealthFront and Betterment, the two largest robo-advisors, could be acquired, according to Think Advisor.
A well-known retirement expert will speak at the 2nd Annual Invest in Women Conference (Financial Advisor)
Alicia Munnell, a well-known retirement expert will give a keynote speech at the 2nd Annual Invest in Women Conference, presented by Financial Advisor and Private Wealth Magazines, on May 4. Munnell recently co-authored Falling Short: The Coming Retirement Crisis and What To Do About It with colleagues Charles Ellis and Andrew Eschtruth, and is frequently quoted by the New York Times, Wall Street Journal and other publications, according to Financial Advisor. Munnell will also be speaking at Financial Advisor and Private Wealth's 7th Annual Inside Retirement Conference.
Aegis lands a team from JHS (Financial Planning)
Aegis has poached an advisory group with $200 million AUM from JHS. According to Financial Planning, the eight-person team decided to make the move just months after Ameriprise announced it was acquiring JHS. The team brought in about $2 million in annual revenue while under the JHS umbrella.