49% of America isn't that interested in dating you and your credit card debt
There's a stigma about credit card debt (NerdWallet)
The average indebted American household has $15,355 in credit card debt. According to NerdWallet, a survey of 2,000 households found 7 in 10 Americans think there's a stigma surrounding credit card debt. 35% of respondents said they'd be most embarrassed to tell their peers about credit card debt, compared to just 19% for other types of debt. In addition, 49% of Americans would be less interested in dating someone who has any credit card debt.
CNBC's Fed Survey showed the chances of a recession are the highest since the fall of 2011. A sixth straight increase suggests the probability of a recession is up to 28.8%, according to Fred Imbert and Steve Liesman. Pessimism surrounding the US economy comes as manufacturing and exports appear weak, and corporate profits are in recession. However, job growth and the consumer appear to be strong.
Bank of America reported a mixed quarter (Business Insider)
The firm announced earnings of $0.28 per share, edging out the $0.27 Bloomberg consensus. Revenue of $19.5 billion was shy of the $19.8 billion that was expected. "The 2015 results were our highest earnings in nearly a decade, reflecting the work we've done to develop a straightforward operating model focused on responsible growth and doing more business with each customer and client," CEO Brian Moynihan said. "We saw solid customer activity in loan growth, deposits, and wealth-management asset flows, and we returned more capital to our shareholders."
Equinox overcharged investors (Think Advisor)
Think Advisor reports, alternative fund manager Equinox will refund investors $5.4 million after the Securities and Exchange Commission said it overcharged for management fees and misled them about how its assets were valued. "Equinox's misleading disclosures gave investors a distorted picture of how the firm determined compensation and valued significant fund holdings," Marshall Sprung, co-chief of the SEC Enforcement Division's Asset Management Unit said. Equinox must also pay $600,000 in prejudgment interest and a $400,000 penalty.
The top 20 RIAs (Financial Planning)
Each year, Financial Planning releases its list of the top 20 RIAs. According to Financial Planning, the rankings used firms with "50% or more individual clients, as can be determined through the Form ADV..." The top 3 RIAs in assets under management are Oxford Financial Group ($13,818,176), Shepard Kaplan ($10,275, 859) and Brownson, Rehmus & Foxworth ($10,127,868).
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