Investments
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Scrub Daddy’s Aaron Krause Brings New Energy to Hockey Sticks
Scrub Daddy founder Aaron Krause, who amassed a fortune with a line of kitchen products he started in Folcroft, is now taking on hockey sticks, writes Alex Silverman for the Philadelphia Business Journal. Krause has acquired a majority stake in Tovi Hockey equipment company. He aims to expand Tovi’s distribution and convince NHL players to…
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Oaks’ SEI Investments Sells Family Office Services Business for $120M, Rebrands as Archway
Oak’s SEI Investments has agreed to sell its family office services business to New York-based investment firm Aquiline Capital Partners, writes Jeff Blumenthal for Philadelphia Business Journal. The $120 million sale is expected to close in the late second quarter. Following the sale, the business will rebrand as Archway, adopting the name of SEI’s well-known…
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Radnor’s Lincoln Financial Is Rebranding, So Eagles’ Stadium Gets New Look
Lincoln Financial Field is going to look slightly different at the start of the Philadelphia Eagles‘ next season. Radnor-based Lincoln Financial, who has the naming rights to the Eagles stadium, has created a new logo and a refreshed tagline, writes Jeff Blumenthal for Philadelphia Business Journal. The goal is to sharpen the purpose of the…
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DT Investment Partners Announces Transition to 100-Percent-Employee-Owned Structure
DT Investment Partners LLC, a $2.3 billion wealth management firm founded in 2011 and headquartered in Chadds Ford, has a new ownership structure that took effect at the beginning of the year. Now 100-percent-employee-owned, DTIP has also launched a new branding strategy that emphasizes its focus on asset allocation and customized investment solutions for clients.…
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AI, Other Innovations, Bring Tax-Avoidance Options to the Masses
Technology like AI is making it possible for the average taxpayer and investor to access the same tax avoidance products offered now to the wealthy private jet crowd who have millions of dollars, writes Jon Sindreu for The Wall Street Journal. Smaller competitors like Alpha Architect in Havertown can now launch their own tax-busting products…
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Pennsylvania Turnpike Commission Cuts Costs, Helps Environment with New Pollinator Habitats
Thanks to its new program supporting pollinator habitats, Pennsylvania Turnpike Commission is reducing maintenance costs while also benefiting the environment, writes Michelle Wolf for WFMZ 69 News. The largest habitat belonging to the Turnpike Commission sits on seven and a half acres in the Allentown area. The aim of creating pollinator habitat is to promote…
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Brumbaugh Wealth Management, MyOfficeOps to Co-Host Webinar on Business Succession and Benefits on Nov. 6
Kim Brumbaugh, founder of Brumbaugh Wealth Management, and Steve Rickel, CEO of MyOfficeOps, will co-host a free webinar on Business Succession and Benefits on Wednesday, Nov. 6 from 12-1 PM. Register here.
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Three Chester County Country Clubs Featured on List of Region’s Most Asset-Rich Country Club
Three Chester County country clubs placed among ten nonprofit country clubs in the region with the largest asset values in 2022, write Andy Medici and Emma Dooling for the Philadelphia Business Journal. To compile the list, Business Journals analyzed IRS forms for nonprofit country clubs for 2022. Waynesborough Country Club in Paoli ranked highest on…
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Do U.S. Presidential Election Cycles Have an Impact on Financial Markets?
We often get questions from clients regarding the potential impact election cycles have on financial markets, and the 2024 U.S. presidential election cycle is no different. The simple answer is that history shows election cycles alone do not have a significant impact on financial markets. We recommend that clients invest for the long-term given their…
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Investors Open First Federal Donuts and Chicken Radnor Restaurant
Federal Donuts and Chicken has opened its first brick-and-mortar Delaware County location in Radnor, writes Emma Dooling for Philadelphia Business Journal. The 1,250 square-foot space at 232 Radnor Chester Road seats 20 people. It employs about 10 people. The restaurant’s close location to Radnor High School and Villanova University makes it an “ideal fit” for…
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Villanova Graduate Rick Wurster Now Head of The Charles Schwab Corporation
The new president of The Charles Schwab Corporation, Rick Wurster, is a graduate of Villanova University, writes the staff at fortworthbusiness.com. Wurster was appointed president by the Board of Directors in October of 2021. Wurster was managing director, heading up Schwab Asset Management. He joined Schwab in early 2016. He has a Bachelor of Science…
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If You’re Behind on Saving in Middle Age, There’s Still Time to Increase Your Savings Rate and Map Your Later Years
If you are behind on saving in middle age, many financial advisors believe there is still time to increase your savings rate and map your later years, writes Hannah Miao for The Wall Street Journal. In 2023, the median account balance of workers between 45 and 54 years old in employee-sponsored retirement plans such as…
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Investors Preparing for More Turbulence Following Return of Market Volatility
Following the return of market volatility after roughly 18 months of slumber, investors are preparing for more turbulence over the coming period, writes David Uberti for The Wall Street Journal. Turbulence has mounted for about a month, culminating last week when the S&P 500 logged both its best and worst days since 2022. Traders have…
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Some Investors Turning Their Backs on Target-Date Funds
Some investors are turning their backs on target-date funds, the most popular retirement investment on Wall Street, write Anne Tergesen and Oyin Adedoyin for The Wall Street Journal. Target-date funds are a long-term, professionally managed stock portfolio that recalibrates the mix as we race toward retirement age. According to Vanguard data, these funds currently attract…
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Firstrust Financial Resources a Lifeline for Families with Special Needs Adults Looking to Protect Their Tomorrows
Harvey Mills, a retired flight attendant, doesn’t sugarcoat the impact that Jerel Ruttenberg, a Senior Financial Professional at Firstrust Financial Resources, and FFR Vice President Brian Smith have had on his family. “They saved my life,” he said, “and that’s not an exaggeration.” With an adult daughter who has autism and an intellectual disability, and…
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Take Note of These Changes in Retirement Savings Rules Before End of Year
Being unaware of most of the provisions Congress put into the landmark retirement law over a year and a half ago could prove costly to investors, writes Leonard Sloane for The Wall Street Journal. The provisions cover required minimum distributions, types of accounts that can be used for certain retirement-plan contributions, and a whole lot…
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This 401(k) Rollover Mistake Could Cost You Money
Workers who pull their retirement savings out of the stock market after changing jobs miss out on billions in investment gains, usually without meaning to, writes Anne Tergesen for The Wall Street Journal. When individuals transfer their 401(k) balances from their previous employer’s plan into an individual retirement account, these funds are often held as…
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Collecting Luxury Spirits as an Investment
Demand for luxury spirits has skyrocketed in the last several years, creating a great investment opportunity that is not just for the wealthy, writes Debbie Carlson for The Wall Street Journal. The Luxury Brand Index created by the Distilled Spirits Council of the United States, which determines demand for high-end spirits, increased by an average…
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