Newsletter - September 2023
A recently hired Wells Fargo Advisor employee who vets complaints with regulatory implications has himself been banned by a regulator.
Drew Stegman, who says he was hired this year to vet complaints against the wirehouse, has accepted a bar from Finra for not complying with its inquiry into allegations he made penny stock recommendations on an online messaging forum.
MUST BE NICE TO LIVE IN A DREAM WORLD
…until reality sets in.
Investors Expect Investment Returns Twice as High as FAs
A Natixis Investment Managers survey found investors expect 15.6% in average annual returns above inflation.
ANOTHER GOOD GIG
Roger Federer has reigned as the world’s highest-paid tennis player. But while he is still collecting an estimated $95 million a year, his retirement last September means that one of his old rivals now wears the crown as the sport’s top earner.
Novak Djokovic is the new champion of Forbes’ annual tennis earnings list, hauling in an estimated $38.4 million (before taxes and agents’ fees) over the past 12 months. And Carlos Alcaraz isn’t far behind by either measure. The 20-year-old Spanish phenom raked in $31.4 million over the past 12 months…
Iga Swiatek, ranked No. 3 this year, brought in an estimated $22.4 million in earnings.
In total, the ten highest-paid players amassed $196 million over the past 12 months. That figure represents a 38% drop from last year’s $316 million total… [That’s tough] The
A thematic ETF is an exchange-traded fund that invests in a specific theme or trend. For example, a thematic ETF might focus on companies involved in renewable energy, cloud computing or artificial intelligence. Thematic ETFs can also focus on broader themes such as sustainability, demographics or innovation.
Read more here
A message from Advisor Perspectives and VettaFi: To learn more about this and other topics, check out our most recent white papers.