The costs of long-term care are soaring.
In the last five years the average cost for nursing home care in the U.S. has gone up 20% to $95,706 per year from $79,935 in 2009, according to a recent study commissioned by New York Life.
The study identifies the 25 most expensive markets in the country for long-term care (see below). You can also click through to see the top 10 most expensive markets
At the start of November, wealth managers and their clients stood watching and waiting as America decided its next president.
Firms such as Carson Group, Morgan Stanley, Morningstar and Merrill are taking vastly different approaches to naming their AI assistants, with some preferring a human name, a male name or simply no human identifier.
A recent FINRA Investor Education Foundation report, "How Gen X Compares Financially to Other Generations: Doing Alright but Feeling Bad," found few born between 1965 and 1980 reported positive feelings about their financial situation.
The regulators' organization is also seeking to let state regulators enforce the same Reg BI conduct standard that federal watchdogs now apply to broker-dealers.
The two firms are among the many wealth managers now being sued over allegations that they failed to obtain fair returns for their clients on their uninvested cash.
In October's roundup of pressing issues in the wealth management space, learn about the CFP Board's problematic advertising campaign, LPL Financial's ongoing recruitment court battles against rival Ameriprise and more.
