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Wealth advisers reveal ways to avoid bumps
Financial markets have been remarkably resilient this year, with various stock indexes notching new record highs, even as a dizzying number of headlines from Washington, D.C., seem poised to whipsaw investors. Uncertainty persists about how the economy — and, by virtue, financial markets — will fare, given President Donald Trump‘s moves to aggressively slash federal […]
Wall Street tumbles after Trump escalates his trade war
NEW YORK (AP) — Wall Street‘s sell-off hit a new low Thursday after President Donald Trump’s escalating trade war dragged the S&P 500 more than 10% below its record, which was set just last month. A 10% drop is a big enough deal that professional investors have a name for it — a “correction” — and the S&P 500’s 1.4% slide on […]
Reality bites
Gen Xers are next in line for retirement, and most are far from being prepared financially for their golden years. They face a substantial shortfall of funds needed for retirement and the largest savings gap of any generation. “As the first generation to head into retirement largely without the safety net of a defined benefit […]
Wilbanks Smith and Thomas acquired
Norfolk-based Wilbanks Smith and Thomas Asset Management has been acquired by Cleveland-based registered investment adviser Clearstead Advisors. The companies signed the merger in February 2024. Financial terms of the acquisition, which closed April 1, were not disclosed. Clearstead rebranded WST’s advisory business as Clearstead Advisory Solutions, a division of Clearstead Advisors. A wealt[...]
The times they are a-changin’
Talk of a looming recession has seemed endless for the past few years. However, with their eyes on long-term retirement investments, many wealth management advisers’ clients have avoided dramatic, emotion-driven decisions. Educated and guided by advisers, they understand the cyclical nature of investing and therefore are considering varying options on where to put their money. […]
Finance | Insurance 2023: JAFFRAY WOODRIFF
While many on social media platform X (formerly Twitter) struggle to fit their bios into allotted characters, Woodriff’s says volumes: “Embrace Simplicity, Beware Complexity,” declares the co-founder and CEO of Quantitative Investment Management, a Charlottesville-based hedge fund. Woodriff, Michael Geismar and Greyson Williams co-founded QIM in 2003. Woodriff also invests in early-stage[...]
NY foundation invests $10M in Appalachian Community Capital
Appalachian Community Capital, a Christiansburg-based community development financial institution that provides capital for small businesses across the Appalachian region, will receive an additional $10 million investment in the form of a low-interest loan from the Ford Foundation, the New York-based nonprofit announced Wednesday. The Ford Foundation initially invested $3 million in ACC in 2015. A[...]
Staying the course
A tanking economy. Rampant inflation. Whiplash in the stock market. What’s an investor to do? Look for opportunities to rebalance portfolios but, in general, hang tight, wealth management professionals say. Or, as one adviser says, buckle up for a roller coaster ride. The economy is likely to worsen, experts say, and despite dickering among economists […]
JMU student and alumni entrepreneurs get boost from program
The James Madison University Bluestone Seed Fund announced Monday that it would provide three startup companies with $5,000 each in its inaugural investment cycle. The Gilliam Center for Entrepreneurship manages the donor-backed fund. The three chosen startups are Gewd Botanicals, Handicans and Tow Ninja. Malique Middleton, a 2021 graduate, founded Gewd Botanicals, a shop that […]
Chicago company acquires Reston-based PagnatoKarp
Reston-based wealth management firm PagnatoKarp has been acquired by Chicago-based Cresset Asset Management, the companies announced Wednesday. A transaction amount was not disclosed, but with the acquisition of PagnatoKarp, Cresset now has $9.5 billion in assets under management. PagnatoKarp had $2.3 billion in assets under management prior to the acquisition. “PagnatoKarp was born during [...]
