Portfolio

Before saving for retirement, young investors are advised to pay down high-interest debts and build an emergency fund, an expert says.

With 7 million accounts and more than $400 billion in assets, Karl Roessner’s firm can be selective as it expands into wealth management.

Lower costs are “pushing down what has been the economic model of our industry,” the Schwab EVP says at the In|Vest conference.

More than one-third of the $1 billion new assets on the digital advice platform are from new clients.

Expense ratios associated with the new products range from 0.05% to 0.07%.

The advice industry’s current structure is “dumb” and in need of fixing, according to Betterment CEO Jon Stein.

The transition is expected to take place within the next 12 to 18 months, however the firm says it will still manage the products’ underlying investments.

Overall donations to charity organizations fell by 1.7%, while total individual giving decreased by 1.1%, the first drop since 2013.

Regulators are asking cannabis fund providers to produce third-party legal opinions verifying they don’t violate state or federal laws.

The brokerage may pay about $2 billion for the additional advisory clients, according to reports.