News Roundup

News Roundup (553)

How FAs Can Avoid Some Basic Pitfalls with Clients

A recent column in Financial Advisor Magazine entitled ‘Where Have All The Advisors Gone?’ highlights a number of areas clients say they are being underserved. This presents an opportunity for many FAs.


KC Chiefs Player to Put Entire Salary into Bitcoin

In consultation with his financial advisor, Sean Culkin, tight end for the Kansas City Chiefs, will become the first player in the NFL to convert his entire salary into Bitcoin. So reports


Fraudsters Steal FA’s Identity to Trick Investors Into Crypto Trades

The name of a financial advisor was used without permission to set up a website to trick investors into making cryptocurrency transactions. So reports Fox 2 Now in St. Louis.


Wells Fargo’s Branches Fall Below 5,000

Wells Fargo continued to shrink the number of its branches, which fell to under 5,000. So reports Business Insider.


Woman Arrested for Keeping $1.2M Schwab Gave Her By Mistake

Kelyn Spadoni, who was owed $82.56 by Schwab but was sent an extra $1,205,536.84, has been fired from her job and arrested for refusing the return the extra funds deposited in her brokerage account by mistake. So reports ABC 7.


Wells Fargo Prepares for Post Labor Day Return to Office

Wells Fargo said it plans to bring employees back to its offices in September. So reports Bloomberg.


Schwab Suing Ex-Client It Gave $1.2M By Mistake

Charles Schwab said it “inadvertently” transferred $1.2 million to the Kelyn Spadoni’s Fidelity account and now the former client is avoiding its calls. So reports Advisor Hub.


Ex-Merrill Rep Charged in Capitol Hill Insurrection

Zachary Rehl was charged with six counts related to the January 6 attack on the U.S. Capitol, including conspiracy “(1) to stop, delay, or hinder Congress’s enforcement certification of the Electoral College vote, and (2) to obstruct and interfere with law officers engaged in their official duties to protect the Capitol and its occupants from those who had unlawfully advanced onto Capitol grounds. So reports Think Advisor.


Is the New COVID-19 Relief Plan a Bailout?

One financial advisor thinks so, according to a recent report from WJBC. The $1.9 trillion American Rescue Plan was passed recently by Congress.


FAs Have New Opportunities Due to Americans’ Changing Financial Priorities

Many Americans are receptive to receiving financial advice. In fact, 44% of Americans without an advisor say they now recognize the benefits of working with one after the turbulence seen in 2020. So reports


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