BILLINGS, Mont. – A mountain of pennies–or more accurately, several mounds of pennies–are growing at Avanta FCU branches, whose employees are trying to collect one million of the one-cent pieces for charity. So far, they have collected 702,181 pennies, or $7,021,81. To boost their penny drive, they are selling 500 raffle tickets for $10 each. The $110 million credit union hopes to donate the resulting collection of $10,000 to the American Cancer Society’s Relay for Life.
Larger public companies' high-profile servicing acquisitions tend to get the spotlight, but the two top leaders in the Ginnie MSR market are quieter players currently run as private companies.
In addition to proposing broader access to private market investments for those who pass a test and for CFPs and other credential holders, the SEC also proposed expanding advisors' ability to charge performance-based fees.
Meta's Muse digital assistant and fintechs have drawn lots of attention, but Amex contends it can harness its long history and ample data to train its internally developed artificial intelligence agents.
What can banks learn from developments around consumer-facing apps like Muse about the future norms they will inevitably have to navigate.
As a significantly underrepresented group in the industry, Black planners and other wealth management professionals of all backgrounds have been tapping into the Quad-A network and professional development opportunities for decades.
Advisors may want to rethink one of the industry's retirement rules of thumb. Two researchers suggest swapping the traditional 4% withdrawal rate for a "flexible 3%" rule to lower failure rates for longer time horizons.
