The Truth About Financial Advisors’ Services And Fees

So, you have decided you want to leave the DIY behind and get some help with your money. That is until you start searching and find that you need a degree in finance just to understand the different types of services and fees.

Save yourself some time with this guide to the most common types of advisors, how they are paid and the duty they owe to you as their client.

Option 1: Sales-Driven Advice

Someone who sells products like mutual funds, bonds, insurance policies or annuities often receives a commission from the various products they recommend. They might receive a commission at the time you purchase their product, throughout the time you own it, or at the time you get rid of it.

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How mass incarceration creates ‘a tremendous amount of financial exploitation’

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This is part 2 of Yahoo Finance’s Illegal Tender podcast about the for-profit prison industry. Listen to the series here. 

Mass incarceration has proven to be a business opportunity as the U.S. prison population increased by 500% over the last 40 years.

There are currently almost 2.3 million people behind bars, with the prison industry generating upwards of $80 billion a year. Much of that money is made from incarcerated individuals and their families. 

“There is a tremendous amount of financial exploitation and predation on the part of corporations on all people who are incarcerated and their loved ones, regardless of the facility operational structure,” Bianca Tylek, executive director of Worth Rises, said on Yahoo Finance’s Illegal Tender podcast. 

There are industries making money off of people losing their freedom in this country’

Tylek explained that money is made in numerous ways

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Easypaisa and NADRA Technologies Ltd. Collaborate for Accessible Digital Financial Services

Easypaisa, Pakistan’s flagship digital payments platform has joined hands with NADRA Technologies Limited (NTL) to provide cross-platform services on NADRA e-sahulat networks enabling convenient access to digital financial solutions. Under the partnership, all 12,000 NADRA e-Sahulat centers across the country will now also provide a host of Easypaisa services.

The agreement was signed by Khurram Malik, Head of Easypaisa, Telenor Microfinance Bank and Mr. Ali Javed, Director General, Public Service Directorate, NADRA Technologies Limited. Senior members from both organizations were also present on the occasion.

Easypaisa, the leading digital payments platform with more than 150,000 branchless banking agents across Pakistan is among the frontrunners working towards revolutionizing digital financial services. NTL’s partnership with Easypaisa is testament to the fact that change is being adopted at a national level providing a robust foundation for convenient access to digital financial services throughout the country.

As a result of the COVID-19 pandemic, digital

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Asian Financial Leaders Agree to Make ‘All Policy Efforts’ to Fight Pandemic | Investing News

TOKYO (Reuters) – Financial leaders from China, Japan, South Korea and Southeast Asia vowed on Friday to redouble their efforts to help the region recover economically from the novel coronavirus and to defend a multilateral system of trade and investment.

“We will remain vigilant to the continued downside risks … We are taking steps to reduce vulnerabilities to these risks and are determined to continue to use all available policy tools to support the sustained recovery,” they said in a joint statement.

“We will remain resolute in our commitment to uphold an open and rule-based multilateral trade and investment system, and strengthen regional integration and cooperation.”

The statement followed the annual meetings of finance ministers and central bank governors from China, Japan, South Korea and the 10-member Association of South East Asian Nations (ASEAN). The meetings were held via teleconference on the sidelines of the annual gathering of the Asian

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Balyasny Asset Management LLC Purchases Shares of 84,235 PNC Financial Services Group Inc (NYSE:PNC)

Balyasny Asset Management LLC acquired a new position in PNC Financial Services Group Inc (NYSE:PNC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 84,235 shares of the financial services provider’s stock, valued at approximately $8,862,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in PNC Financial Services Group by 5.0% during the 1st quarter. JPMorgan Chase & Co. now owns 13,204,468 shares of the financial services provider’s stock valued at $1,263,932,000 after purchasing an additional 627,213 shares in the last quarter. Aristotle Capital Management LLC increased its position in PNC Financial Services Group by 128.3% in the first quarter. Aristotle Capital Management LLC now owns 1,076,527 shares of the financial services provider’s stock worth $103,045,000 after purchasing an additional 605,005

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MindMed Submits Application For NASDAQ Up-Listing, Appoints Canaccord Genuity As Financial Advisor

NEW YORK, Sept. 21, 2020 /CNW/ — Mind Medicine (MindMed) Inc. (NEO: MMED)(OTCQB: MMEDF)(DE: MMQ), the leading drug development company for psychedelic inspired medicines, is evaluating an expanded United States investor base through an up-listing on the NASDAQ Capital Market (“NASDAQ”).

Mindmed logo (PRNewsfoto/Mind Medicine, Inc. (Mindmed))
Mindmed logo (PRNewsfoto/Mind Medicine, Inc. (Mindmed))

As part of this up-listing strategy in the United States, MindMed has submitted an application to list its subordinate voting shares on NASDAQ.  The listing of MindMed’s shares on NASDAQ will be subject to a number of regulatory requirements, including review of the company and acceptance for listing by NASDAQ.  There can be no assurance that NASDAQ acceptance will be granted.

MindMed has appointed Canaccord Genuity Corp. (“Canaccord Genuity”) as financial advisor to assess the viability of a potential up-listing to NASDAQ and also help to evaluate M&A opportunities available to the company.

MindMed Co-Founder and Co-CEO JR Rahn said “The

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Expect a Strong Move Soon for Shares of PNC Financial Services Group (PNC)

After studying the chart of PNC Financial Services Group (PNC), I believe a strong move will occur within the next week.

PNC is a diversified financial services company offering retail banking, corporate and institutional banking, asset management, and residential mortgage banking. The company is poised for growth due to rising loans balance, an expansion of its middle-market lending franchise, and diversification of its revenue sources.

Take a look at the 1-year chart of PNC below with the added notations:

 

Chart of PNC provided by TradingView

While climbing a clear trendline of support (green), PNC has also formed an important level of resistance at $115 (red). After hitting that $115 mark, again, to start this week off.

A trader could buy shares of PNC if the $115 resistance is broken, with the expectation of a breakout.  Or short PNC if the stock falls beneath the trendline support.

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AM Best Assigns Issue Credit Rating to OneAmerica Financial Partners, Inc.’s Senior Unsecured Notes

Bloomberg

What Investors With $3.4 Trillion Are Buying During Covid

(Bloomberg) — Hotels, pipelines, convenience stores and automaker bonds are among the assets being bought by some of the world’s biggest asset managers as they look for value in a world thrown into turmoil by the coronavirus pandemic.In interviews with sovereign wealth funds, pension firms and asset managers across Asia and Europe that collectively manage about $3.4 trillion, one thing was clear: many of them are avoiding the overheated stock market.The most common outlook was one of caution. They are mindful that much of the rebound in markets and private-company valuations is thanks to ultra-low interest rates, massive central bank stimulus and government fiscal support, some of which could start to be wound back in coming months.With asset values still seen as inflated, even in some hot areas like healthcare and technology, many are waiting for a potential second downturn

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The next financial crisis may sneak up on investors: Deutsche Bank

Peter Hooper, Deutsche Bank Global Head of Economic Research, joins Yahoo Finance’s Zack Guzman to discus why he believes a financial crisis could surprise investors ‘sooner rather than later.’

Video Transcript

ZACK GUZMAN: One warning note want to highlight here today from Deutsche Bank, highlighting the fact that this sell-off could be a surprise for investors. It could be hitting sooner rather than later. People have feared a potential uptick in cases later on this year and election volatility. But things clearly today and this week in Monday’s session here proving it could catch a lot of investors flat-footed.

And here to discuss that with us is Peter Hooper, Deutsche Bank Global Head of Economic Research. And Peter, I mean, just explain to me what’s– what’s going on here today, because what’s strange to me is a little bit of this rotation. We had normally seen tech leading the volatility

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Qatar Financial Center Regulatory Authority to Migrate Online Services to Microsoft Cloud

The Qatar Financial Center Regulatory Authority (QFCRA) recently revealed that it will be migrating its online services to the Microsoft Cloud in order to move forward with its digital transformation strategy.

The move to Microsoft Cloud comes after the Middle Eastern nation’s Ministry of Transport and Communication (MoTC) teamed up with Microsoft in 2019. The migration to the new Cloud services should offer significant benefits such as improved scalability, enhanced productivity, lower costs, and better security. This should help with meeting relevant regulatory and compliance requirements.

Eisa Ahmed Abdulla, COO at QFCRA, stated that, at the QFCRA, they’re focused on following the applicable international regulatory guidelines while adhering to industry best practices. This approach should help with maintaining “a healthy financial environment that encourages economic diversification and sustainable growth, a vital pillar of the Qatar National Vision 2030,” Abdulla added.

He further noted that by migrating the organization’s IT

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