Why it stands out: You ll only need $500 to start investing with Wealthfront. Once you meet the minimum requirement, you ll get access to an array of investing accounts, fee-free hybrid savings and checking accounts , retirement accounts, portfolio lines of credit, 529 college savings plans, and more.
At Wealthfront, you can also take advantage of investment strategies and financial planning tools provided by a team of PhDs, and investment accounts include automatic portfolio rebalancing and tax-loss harvesting (tax-loss harvesting is a strategy that saves you money in taxes by replacing failing investments).
What to look out for: Before investing with Wealthfront, remember that you ll need $500 to begin, and there won t be any fee discounts for higher balances. In other words, the 0.25% annual fee applies to all account balances. Another thing to consider is that your investment options are limited to ETFs.
31 FORT KNOX, Kentucky 2021 marks 30 years since the Army initiated the first ever program solely focused on transitioning Army Soldiers into civilian life. In 1991, just as the Berlin Wall hit the ground and as the first Gulf War ushered our Army into a new era, the Transition Assistance Program (TAP) was created.
As TAP celebrates its 30th anniversary, we are going back-to-basics with several strategic initiatives including a name change and a new program identity. On 26 October 2020, the Army-G1 approved the name change of the Army’s Transition Assistance Program from SFL-TAP to TAP.
The strategic objectives of the name change include raising awareness of TAP s successes; increasing support for and participation in the program; re-inspiring leaders, clients, and team members through education; and repositioning TAP to differentiate itself from other programs.
Hightower Sees New Opportunity in IBD-Affiliated Firms Hightower has already made two acquisitions of firms sitting at independent broker/dealers, and CEO Bob Oros expects it to be an area of growth for the firm going forward.
While Chicago-headquartered Hightower’s core strategy continues to be acquiring standalone registered investment advisors, the firm has recently made a foray into the independent broker/dealer channel, and CEO Bob Oros expects it to be a complementary area of growth for the firm going forward. The move would certainly expand the universe of potential acquisitions.
Just this week, Hightower announced it was taking a stake in Siller & Cohen Family Wealth Advisors, a Rye Brook, N.Y.-based hybrid RIA with $830 million in client assets, which was previously affiliated with Lincoln Financial Advisors. In October, the firm made an investment in Austin-based Hart Financial Group, a hybrid firm previously affiliated with MML Investors Services, MassMutual’
Commonwealth Launches Enhanced Support Offering for Breakaways Commonwealth’s new Business Consulting Services will provide dedicated transition support for advisors leaving the wirehouses to go independent.
Waltham, Mass.–based independent broker/dealer Commonwealth Financial Network has introduced a new offering to help lure breakaway brokers out of the wirehouses. Business Consulting Services, as the firm calls it, will be a suite of offerings to provide a so-called “soft landing” for employee advisors as they transition into owning and running a business as an independent.
“Going from a wirehouse to independent and having those entrepreneurial responsibilities is a headache and a big learning curve for them,” said Jonathan Henschen, president of the recruiting firm Henschen & Associates in Marine on St. Croix, Minn. “So anything broker/dealers can do to diminish those insecurities and diminish the learning curve it only makes sense.”