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Advisors not up to speed on blockchain technology will get left behind: Experts

Advisors not up to speed on blockchain technology will get left behind: Experts

Finance
If you're a financial advisor, chances are you're not using blockchain technology and not even sure how to define it.But you could be missing one of the biggest developments poised to disrupt the entire financial services industry, according to some financial experts.Blockchain technology was developed to serve as the backbone for the bitcoin cryptocurrency.But the blockchain is rapidly gaining popularity as people realize its value as a mechanism for executing transactions without the oversight of a third party or central bank, said Magdalena Ramada, senior economist at Willis Towers Watson, in a presentation at the Technology Tools for Today Advisor Conference in Fort Lauderdale, Florida.The blockchain is defined as a digital distributed ledger, or registry of information, according to R...
Advisors are offering ‘fatally flawed’ advice to clients, advisor says

Advisors are offering ‘fatally flawed’ advice to clients, advisor says

Finance
If you're a financial advisor who is still giving clients advice based on today's life expectancy and goals, chances are you need to go back to the drawing board."Most of the advice you are offering is fatally flawed, and I would even argue criminally negligent," Ric Edelman, founder and executive chairman of Edelman Financial Services, told attendees at the Technology Tools for Today Advisor Conference in Fort Lauderdale, Florida, on Wednesday."If you continue to give the advice to your clients that you are currently giving them, you will soon be out of business," Edelman said.Rapid technology advances coupled with changing life plans will fundamentally alter the way we live. And most of the financial plans that advisors come up with for clients are stuck on outdated expectations, said Ed...
Trump reportedly 'hell-bent' on imposing steel tariff despite objections from most advisors

Trump reportedly 'hell-bent' on imposing steel tariff despite objections from most advisors

Finance
President Donald Trump's White House is "hell-bent" on imposing tariffs on steel and other imports, Axios reported FridayThe plan — which was pushed by Commerce Secretary Wilbur Ross and was supported by National Trade Council Peter Navarro and policy adviser Stephen Miller — would potentially impose tariffs in the 20 percent range, according to the report.During a "tense" meeting Monday, the president made clear he favors tariffs, yet the plan was met with heavy opposition by most officials in the room, with one telling Axios about 22 were against it and only three in favor, including Trump.The White House did not immediately respond to CNBC's request for comment, but White House Principal Deputy Press Secretary Sarah Huckabee Sanders said Trump hadn't made a final decision on steel tarif