How independent financial advisers can avoid ‘dying at their desk’

Trump announces phase-one China trade deal and scraps Dec. 15 tariffs

President Donald Trump announced a “phase one” trade deal with China on Friday, saying Beijing had agreed to purchases of U.S. goods and will avoid tariffs that had been set to go into place on Sunday.

‘MASSIVE PURCHASES’

Trump said in a pair of tweets that the Chinese had agreed to “many structural changes and massive purchases” of American farm, energy and manufactured goods — though the president put no numbers on that statement. Chinese Vice Minister Wang Shouwen, speaking to reporters in Beijing, didn’t specify purchase figures, either.

Trump announced the deal as Democrats on the House Judiciary Committee took a step toward impeaching him, sending obstruction and abuse of power charges to the House floor for a full vote that is expected sometime next week. With the Senate widely expected to acquit Trump, markets have paid little attention to the impeachment drama from Washington.

“How do you get Impeached when you have done NOTHING wrong,” Trump said in another tweet, his latest denial of impropriety.

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Johnson’s Brexit election gamble pays off – but what next?

A champagne night for the Tories, carnage for Labour and catastrophe for the Lib Dems.

On today’s special election podcast we digest the results, take a closer look at the changes, discuss what next for the political parties and Brexit – plus, can division across the country be healed?

:: Listen to the Daily podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker

AT&T to raise quarterly dividend by 2% to 52 cents a share, retire $100 million of stock in Q1

AT&T Inc. T, -0.44% said Friday its board has agreed to increase its quarterly dividend by 2% to 52 cents a share. The new dividend is payable Feb. 3 to shareholders of record as of Jan. 10. The company said it has begun retiring shares after entering a $4 billion accelerated share repurchase program and plans to retire about $100 million worth in the first quarter of 2020. AT&T is also on track to hit its 2019 net debt-to-adjusted EBITDA ratio target in the 2.5 times range and expects its leverage ratio to range from 2.0 times to 2.25 times by the end of 2022. Shares were slightly lower Friday, but have gained 34% in 2019, while the S&P 500 SPX, -0.03% has gained 26%.

Disney Stars and Dancers

UNICEF held its snowflake ball at Cipriani Wall Street on Dec. 3. The Alvin Ailey American Dance Theater held an opening night gala on Dec. 4 at the New York City Center. And the National Parks of New York Harbor Conservancy held its annual gala at Federal Hall on Dec. 3.

Gold prices settle higher to post a weekly rise of over 1%

Gold prices climbed on Friday, buoyed weakness in the U.S. dollar and bond yields, as traders weighed progress on phase one of a trade deal between the U.S. and China. February gold GCG20, +0.63% rose $8.90, or 0.6%, to settle at $1,481.20 an ounce, with the most-active contract ending the week 1.1% higher. Prices marked their highest settlement since Dec. 5, according to FactSet data.

New Orleans hit with cyberattack

Data industry is an ‘enormous marketplace’ that consumers never see: Cyber Guy

Cyber Guy Kurt Knutsson discusses a report on companies harvesting data on consumer sentiment and how individuals can access the information collected on them.

The city of New Orleans’ computer systems were reportedly hit with a cyberattack on Friday, according to a report.

Continue Reading Below

New Orleans police, firefighters and other personnel were told to "power off all computers and shutdown cellphones," according to WWL-TV, a New Orleans television station.

"The City of New Orleans is under a cyber attack. Please power off your computers and unplug them immediately. Await further instructions," an internal text message from the New Orleans Office of Homeland Security and Emergency Preparedness said, according to WWL-TV.

The city’s official website was not working as of 2 p.m. ET.

This is a breaking news story. Please check back for updates.

How independent financial advisers can avoid ‘dying at their desk’

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As a financial adviser, you have spent your career helping clients to build and protect their wealth so they can retire comfortably and accomplish their bucket list items.

Ironically, it seems that many financial advisers have not taken their own advice, and instead of developing a transition plan to get themselves on the path to retirement, they retire in place. It sounds like a classic case of the cobbler’s children having no shoes.

When advisers retire in place, they will often stop working full time, go into the office less, and only communicate with clients when it’s convenient for them. This approach can negatively impact the level of advice they provide to clients, because they have one foot in retirement and one foot in the office. However, there are effective ways to retire in place, such as joining a firm that implements joint ventures or staged retirement plans for advisers.

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