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Print The past week saw 74 adviser roles appointed while 99 adviser roles ceased, which gives a net loss of 25 roles, however the true story is that 33 actual advisers left the industry this week, according to the analysis by HFS Consulting which looks at adviser numbers from the Financial Adviser Register (FAR) run by the Australian Securities and Investments Commission (ASIC). Colin Williams, HFS’ director, explained this was due to Apogee Financial Planning having appointed the same adviser three times, which most likely was an error, while at the same time BDO appointed three advisers, of which two still had their roles at Godfrey Pembroke. Following this, Evans and Partners appointed three advisers who also held roles at Dixons, its related business. ....
Wealth Gaps Between White, Black And Hispanic Families In 2019 from the St Louis Fed this post authored by Ana Hernandez Kent, Senior Researcher, Center for Household Financial Stability; and Lowell R. Ricketts, Data Scientist, Center for Household Financial Stability Education, family structure, and generation status are related to how much wealth a household has. But regardless of which kinds of those characteristics they have, non-Hispanic Black and Hispanic (of any race) families in the U.S. have large and persistent wealth gaps with non-Hispanic white families (hereafter, Black, Hispanic, and white, respectively). We analyzed 2019 data, the latest available from the Federal Reserve Board’s Survey of Consumer Finances (SCF),1 on family wealth, or what a family owns minus what they owe. We based a family’s demographic characteristics on those of the survey respondent, who is generally the most financially knowledgeable person in the household. ....
from the St Louis Fed this post authored by Meredith Covington, Manager, Supervision Policy, Research and Analysis Manager; and Ana H. Kent, Policy Analyst, Center for Household Financial Stability During most of the coronavirus pandemic, women have faced higher unemployment rates than men, as the pandemic affected sectors with high shares of female workers, particularly in service professions. Moreover, the closures of schools and day care centers and the implementation of remote learning have increased child care needs, which disparately affect working mothers. A September McKinsey study (PDF) shows that roughly a third of working mothers were considering taking a leave of absence, dropping out of the work force entirely, cutting their hours, moving to part-time or switching to a less-demanding role. Childcare responsibilities were a primary concern for most of these mothers. ....