| Sponsored message from Fidelity Investments |
| Racial Inequalities in Financial Wellness |
| To address racial inequalities, we must acknowledge they exist and understand the reasons why. Here, we explore differences by race and ethnicity across budgeting, debt, savings, protection, and financial confidence.
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| Investment Advice Revisited |
| On June 29, the Department of Labor (DOL) issued a notice of proposed class exemption titled “Improving Investment Advice for Workers and Retirees.” At that point, the ink was still drying on advisers’ Form CRSs and Regulation Best Interest (Reg BI) disclosures. Now, the department has introduced a new exemption for advisers who act as fiduciaries to Employee Retirement Income Security Act (ERISA)-covered plans, individual retirement accounts (IRAs) and other tax preferred accounts.
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| Giving Back: Lessons in Mentorship from Soraya Morris |
| Soraya Morris is a lead trainer at Envestnet | MoneyGuide. She formerly worked for a fee-only registered investment adviser and says mentorship is a huge part of her past and future in this industry.
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| DOL Gives Private-Equity Guidance |
| 401(k) plans may include the strategy as part of a diversified fund.
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| Market Mirror |
| Monday, the Dow decreased 509.72 points (1.84%) to 27,147.70, the NASDAQ lost 14.48 points (0.13%) to finish at 10,778.80, and the S&P 500 fell 38.41 points (1.16%) to 3,281.06. The Russell 2000 was down 51.53 points (3.35%) at 1,485.25, and the Wilshire 5000 closed 395.49 points (1.16%) lower at 33,659.68.
The price of the 10-year Treasury note increased 3/32, lowering its yield up to 0.669%. The price of the 30-year Treasury bond was up 8/32, decreasing its yield to 1.422%.
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