Terror Bombs Shift Attitude of U.S. Rich

Published August 09, 2005, 1:00 a.m. EDT

1 Min Read

In the wake of the London subway and bus bombings, top concerns among affluent Americans have shifted from the economy to terrorism, safety, and security, according to a survey to be released today.

Processing Content

The latest quarterly McDonald Financial Group Affluent Consumer Confidence Index report said affluent Americans now view terrorism as the No. 1 issue facing the country, with 32% naming it, double the share that rated it No. 1 in the previous quarter and more than picked any other concern.

David Legeay, a senior vice president at McDonald Financial Group, the investment arm of KeyCorp in Cleveland, said the results were skewed because the survey was done from July 6 to 15, straddling the July 7 bombing date.

Economic confidence among affluent Americans improved by two points in the quarter after a five-point decline the previous quarter.

MORE FROM FINANCIAL PLANNING

Tax planning

Tax 'traps' and capital gains strategies for in-kind charitable donations

While donating stock is a clear win for clients to avoid capital gains taxes, gifts of property require a qualified appraisal to get a deduction.

By Zoe Sagalow
Reporter

September 4
Financial Advisors

SEC moves to nullify pay-to-play ban for federal contracts

The Securities and Exchange Commission proposal would eliminate a ban on investment advisors receiving government contracts within two years of making political contributions. The agency says existing laws can address pay-to-play conflicts of interest.

By Ebrima Santos Sanneh
Reporter

September 4
Practice and client management

Schwab raises fees on wealthy clients as upmarket push continues

Fee increases Charles Schwab is adopting for its in-house advisory business will keep a cheaper alternative for high net worth clients while helping to plug revenue holes.

By Dan Shaw
Reporter

September 4
Artificial Intelligence

Why falling AI prices are still leading to bigger tech bills

Token prices have collapsed significantly. Enterprise bills have grown anyway. Here's what advisors should know before scaling up their AI usage too quickly.

By Grace L. Williams
Reporter

September 3
Wealth management

RIA referrals, tech and service: How TradePMR by Robinhood pitches advisors

One year after $300M deal, referrals through Robinhood that put younger investors in the pipeline and an ongoing clearing relationship with Wells Fargo reflect how TradePMR is a growing rival to the giants of the custody channel.

By Tobias Salinger
Chief Correspondent

September 3
Retirement planning

Managed accounts linked to higher retirement savings rates: Morningstar

Managed accounts are associated with higher employee contributions in defined-contribution retirement plans, the research firm found. Advisors working on employer plans might want to take note.

By Zoe Sagalow
Reporter

September 3