Wealth advisors are rushing to the Bay Area to get in on the tech boom

Wikipedia

Wealth advisers are flocking to the Bay Area (Institutional Investor)

The recent boom in Silicon Valley has brought an influx of wealth advisers to the Bay Area. Bel Air Investment Advisors began in Los Angeles in 1997, but recently opened its first office in San Francisco to capitalize on the newly minted tech millionaires. Bel Air Investment Advisors is not alone, firms like Flynn Family Office and Iconiq also are recent migrants to the region. Institutional Investor notes, "With record-breaking valuations for still-private firms such as Uber and Snapchat, the next wave of outsize wealth is set to wash over the Bay Area."

10 mistakes people make when planning for retirement (Financial Advisor)

Financial Advisor highlights AARP's recently released list of the top 10 retirement planning mistakes people make. The organization says people should wait until the age of 70 to begin receiving their social security, because the amount of benefits available at that age increases significantly. Also, make sure to factor in health care costs when planning for retirement. The average male will need $116,000 to cover expenses while the average female needs $131,000. Click the link above to see the full list.

Hillary Clinton attacks CEOs and hedge fund managers (Bloomberg)

Hillary Clinton made the first stop of her presidential campaign tour on Tuesday in Monticello, Iowa. She wasted little time taking aim at corporate America, saying, "There's something wrong when CEOs make 300 times more than the American worker … There's something wrong when American workers keep getting more productive … but that productivity is not matched in their paychecks." Clinton also lashed out at Wall Street, noting, "there's something wrong when hedge fund managers pay less in taxes than nurses or the truckers I saw on I-80."

Investors are hoping for double-digit returns in 2015 (Wealth Management)

According to a Natixis Global Asset Management study, the majority of investors believe they need an average annual return of at least 10% to achieve their financial goals. Wealth Management notes 81% of those surveyed believe returns of this magnitude are possible, and "more than half are willing to take on more risk in 2015 to reach their expected returns." According to the survey, 87% of respondents believe there is value in the services offered by financial advisors.

Army vet charged with fraud for allegedly lying to soldiers about investing experience (Think Advisor)

The Securities and Exchange Commission has charged Leroy Brown Jr. with fraud for falsely telling fellow veterans "many years of experience in the securities markets" and "all the necessary licenses and registrations to conduct securities business" when in reality he had no experience whatsoever. Brown also allegedly told investors he would "double or triple their money within 120 days." His assets have been temporarily frozen, pending an outcome.