Insurable Interest Canadian Insurance Blog

That was instrumental in helping me with issues like: Who do you use for 401(k) work? Who do you use for payroll? How does this work and that work? She was a huge help. My partner Collin and I … are happy to pay that forward. If any other advisor is looking to transition and wants to pick my brain, we’re happy to do so and to help Commonwealth in any way that we can. Jess was a huge help to us. I remember asking her, “Everything about running a business seems daunting, right?” And she said, ‘It’s like before you have a baby. You don’t know how people do it. Then when you have the baby, it just all happens.” Shortly after we signed our agreement with Commonwealth, we went up to visit the home office [in Waltham, Massachusetts]. We went through transition training, met with CEO Wayne Bloom, and we all had dinner together, along with his wife. This was over the weekend before Thanksgiving — the home-office staff members were having to come in to see us, and I felt bad. Can you tell us a bit more about your official move?  The day we resigned from...

Over the last 12 months, the all items index increased 3.3% before seasonal adjustment. More than offsetting a decline in gasoline, the index for shelter rose in May, up 0.4% for the fourth consecutive month. The index for food increased 0.1% in May. The food away from home index rose 0.4% over the month, while the food at home index was unchanged. The energy index fell 2% over the month, led by a 3.6% decrease in the gasoline index. The index for all items less food and energy rose 0.2% in May, after rising 0.3% the preceding month. Indexes that increased in May include shelter, medical care, used cars and trucks, and education. The indexes for airline fares, new vehicles, communication, recreation and apparel were among those that decreased over the month. Credit: David Palmer/ALM

Charles Schwab customers swamped social media Tuesday morning with reports of login problems. Shortly after 11 a.m., Schwab announced the glitches had been resolved. Outage monitoring site Downdetector had received more than 5,800 problem reports for Schwab at 9:45 a.m. Eastern Daylight Time, with 93% citing login trouble. Downdetector also showed 1,550 problem reports for Schwab-owned TD Ameritrade around the same time — apparently stemming from login troubles with the thinkorswim trading app. “We are aware that some clients may be experiencing issues logging in to some of our platforms. Schwab Advisor Center (SAC) is not impacted. Our teams are actively working to resolve the issue. We apologize for the inconvenience,” a Schwab spokesman told ThinkAdvisor by email at 9:40 a.m. At 10:16 a.m., Schwab posted a message on X, formerly Twitter, apologizing for the login problems and noting that brokers were available to review specific trades. Almost an hour later, the company told ThinkAdvisor through the spokesman, “An earlier issue where some clients may have had issues logging in to some Schwab platforms has been resolved. Clients can try logging in again. We apologize for any inconvenience this may have caused.”

‘Missing Out’ Against this backdrop, nearly everyone straying from U.S. equities is subject to a sense of missing out. Over the last 15 years, the PIMCO StocksPLUS Long Duration Fund (PSLDX) is the one and only among the 372 asset allocation portfolios tracked by Morningstar that’s ahead of the S&P 500. The data has emboldened those who say diversification — however sound in theory — is costing investors over the long run, by holding underperforming investments. The revolt got an airing last year when academics published a study saying retirees would be better off eschewing bonds completely. Proponents of modern-day allocations pushed back, saying assets like fixed income allow individual investors to better match financial gains with future obligations. Moreover, diversified portfolios won out from 2000 to 2008, a period when stocks saw their values cut in half on two separate occasions. “Diversification is your best friend on your worst day,” said David Kelly, chief global strategist at J.P. Morgan Asset Management. “The right asset allocation is a little bit like home insurance. You never know when you’re going to need it, but you should never feel comfortable not having it.” That logic is partly what’s behind the decision by many big-money...