Karen DeMasters

1 week ago | fa-mag.com | Karen DeMasters

Diamond Consultants, an industry-leading consulting, recruiting and executive search firm based in Morristown, N.J., is transitioning its leadership to the next generation, the firm announced today. Founded by Mindy Diamond in 1998, Diamond Consultants quickly became a premier consultant in the financial industry world. Mindy Diamond, the firm’s current CEO is transitioning from that role, one in which she sets strategy for the firm, and will become chair of the board.

2 weeks ago | fa-mag.com | Karen DeMasters

As more government and some private sector employees face the loss of their jobs, it’s the obligation of financial advisors to present them with future options, said Crystal Cox, senior vice president and advisor at New York City-based Wealthspire Advisors, a national wealth management firm with nearly $30 billion in AUM. “One of the first calls a person should make after a job loss is to the advisor. It is our job to know the client’s choices in a situation like that.

2 weeks ago | fa-mag.com | Karen DeMasters

A majority of parents experience feelings of guilt about their parenting decisions, which often causes them to overspend on their kids, according to a survey by Ameriprise Financial. Parents also told the company that they reported being caught between conflicting financial goals for themselves and their children. “It is clear parents are concerned about the trade-offs they are making for their children,” says Deana Healy, vice president of financial planning and advice at Ameriprise.

2 weeks ago | fa-mag.com | Karen DeMasters

Most young people will rely on “the bank of Mom and Dad” to buy their first home, according to a survey that the national bank BMO released today. More than half of millennials (those born from the early 1980s to the early 2000s) and Gen Z (those born after millennials) also said they were willing to consider nontraditional home buying options, such as buying a home with friends, according to the survey, which included 2,500 American adults.

4 weeks ago | fa-mag.com | Karen DeMasters

Investors should increase their allocations to alternative assets, especially in light of the shifting tariffs that are adding uncertainty to all parts of the market, according to Laurie Chan, U.S. head of alternative solutions at PGIM Investments. “On average, investors have 5% of their portfolios dedicated to alternatives, when it should range between 15% and 30% depending on the client to provide the right level of diversity,” Chan said in an interview.