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Commonwealth Financial Network
®, a national firm dedicated to providing advisor-focused business solutions, announces the addition of FS Financial of Southington, Connecticut, to its network of independent financial advisors. Formerly affiliated with Wells Fargo, financial advisors Aaron Sehl and Vincent Feijoo, a CFP
® professional, founded the independent firm in April 2021, bringing with them veteran support staff member Michele Molitor. The dually registered firm will be responsible for $200 million in assets under management, with close to 75 percent fee-based business.
FS Financial will focus on the traditional pillars of investment, retirement, insurance, and estate planning. Sehl and Feijoo plan to continue to nurture and grow their relationships with their longstanding clients, as well as prospect for new clients who will appreciate the newly formed practice’s commitment to responsive, caring service. The team’s decision to leave the wirehouse environment also puts
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“These are staggering numbers,” CNBC’s Rick Santelli, and while the direction was expected, the amplitude was very much a surprise. The Bureau of Labor Statistics reported an 0.8% jump in the Consumer Price Index for April, an annualized increase of 4.2%, far above expectations.
As Santelli explains, we’re comparing year-on-year from the first full month of COVID-19 shutdowns, so some upward pressure is normal under the circumstances. However, this looks more like actual inflation:
U.S. consumer prices surged in April as the economic recovery picked up, reflecting surging demand as the pandemic eased and higher prices due to supply bottlenecks.
Duo managing $200 million at Wells Fargo goes indie with Commonwealth
Aaron Sehl and Vincent Feijoo set up FS Financial in Southington, Connecticut.
May 11, 2021
Joining them in their Southington, Connecticut-based firm, FS Financial, is Michele Molitor, their team administrative professional.
By Yun Li, CNBC •
Updated on May 12, 2021 at 4:29 pm
CNBC
U.S. stocks declined sharply on Wednesday as hotter-than-expected inflation data triggered massive selling, especially in technology shares. Download our mobile app for iOS or Android to get alerts for local breaking news and weather.
The Dow Jones Industrial Average fell 681.50 points, or 2%, to 33,587.66, posting its worst day since January. The blue-chip benchmark tumbled as much as 713 points at its session low. The S&P 500 lost 2.1% to 4,063.04 for its biggest drop since February, while the tech-heavy Nasdaq Composite slid 2.7% to 13,031.68, bringing its weekly decline to more than 5%.
Inflation accelerated at its fastest pace since 2008 last month with the Consumer Price Index spiking 4.2% from a year ago, compared to the Dow Jones estimate for a 3.6% increase. The monthly gain was 0.8%, versus the expected 0.2%. Excluding volatile food and energy prices, the core CPI increased 3% from the same period