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☆ One personal decision can create a mess of financial challenges for transgender Americans—'it takes a lot of courage'
▼ + stars: | 2024-05-02 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +5 min

Changing their name may be an important step a transgender or nonbinary person takes to embrace their identity. But doing so is seldom easy and can create even more problems — particularly for your finances — after the fact, according to a recent white paper published by J.P. Morgan Wealth Management. Credit reports using deadnames — former names that individuals no longer use — are common and can result in credit discrimination against trans people, J.P. Morgan says. Getting approved to rent an apartment is just one of the issues that can arise out of inaccuracies on your credit report. Potential employers, utilities and phone companies and more may pull your credit report as part of a background check to hire you or establish services at your home.

Persons: J.P, Leo Aquino, Shelby Anderson, Morgan, deadnames, —, Aquino, hadn't, Anderson Organizations: Morgan Wealth Management, CNBC, Social Security Locations: U.S

☆ 52% of Hispanic and Latina women investors are more confident about their money than 5 years ago
▼ + stars: | 2023-09-15 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Still, there are a number of financial disparities between Hispanic and Latino Americans and their white peers, especially Latina women. Hispanic women earn a median annual salary of $39,511, compared with a median of $55,330 among white women and $61,740 for white men, according to Labor Department data. But Latina women are moving in the right direction: 52% of Hispanic and Latina investors say they feel more knowledgeable about their investments and retirement planning than they did five years ago according to J.P. Morgan Wealth Management's 2023 Diverse Investor Study. That number is around 81% for Hispanic and Latina investors, the survey found. What sets Latina investors apart

Persons: Morgan, Veronica Navarro, Navarro, that's Organizations: Labor Department, Consumer Finances, Morgan Wealth Advisors, CNBC Locations: United States, Latina, J.P

Pros Check mark icon A check mark. Earn a higher interest rate with qualifying activities Check mark icon A check mark. Earn up to 15% cash back at local retailers if you use a SoFi debit card Check mark icon A check mark. No-fee overdraft coverage if you overdraw up to $50 Check mark icon A check mark. High bank account bonuses at other banksOther banks have high bank account bonuses, too.

Persons: Chase, You'll, BMO Harris Organizations: Chase, Chase Bank, Morgan Wealth Management, Morgan Securities, SoFi Bank, Green, Reading Chevron, Chase Secure, Citibank, Citi, Huntington Bank, New Huntington Bank, BMO, U.S . Bank, Residents, U.S, Bank, Bank Standard Savings, Products, Secure Banking, Savings

☆ Take 3 steps to protect your assets if you're LGBTQ, say experts: This is 'our first recommendation to every couple'
▼ + stars: | 2023-06-28 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

When it comes to money, members of the LGBTQ community can be vulnerable targets for malicious actors. One area that many people overlook: estate planning. Put your wishes in trusted handsThe idea of a "chosen family" has been common in the LGBTQ community and other marginalized groups for generations. "Our first recommendation to every couple, regardless of whether you're married or not, is get basic estate planning documents in place — wills, trusts, powers of attorney, health-care directives, revisit all your beneficiary designations. Emphasize the need to keep these family members out of your plans and add "no-contest" provisions that penalize legal attacks on your estate, Hahn says.

Persons: Joseph Hahn, Hahn Organizations: Human, Morgan Wealth Management, CNBC Locations: U.S

☆ Baby Gear Rental Startup Loop Hires Former Glossier Marketing Chief as CEO
▼ + stars: | 2022-11-30 | by ( Megan Graham | ) www.wsj.com time to read: +3 min

Loop Co., a baby equipment rental company, has hired former Glossier Inc. chief marketing officer Ali Weiss to be its chief executive officer. Loop, which was founded last year, lets paying members rent baby gear such as cribs, toys and high chairs. For us at Loop, it’s member-first.”The company plans to hire a marketing leader who will report to Ms. Weiss. The company’s rentals can appeal to parents who want to reduce clutter or their environmental impact, according to Ms. Weiss. “Our vision is that we’re able to provide this service across many markets, many cities, many metro areas across the U.S.,” Ms. Weiss said.

☆ Didn't win Powerball's $2 billion jackpot? You may be still be one of the 22 people who won $1 million
▼ + stars: | 2022-11-10 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +3 min

But matching five of the numbers still means a $1 million payout — and 22 people across 16 different states may have winning tickets, according to Powerball. The automatic 24% federal tax rate would take a $1 million payout down to $760,000, according to Powerball's tax calculator. There are enough horror stories of lottery winners squandering their earnings to make winning a major prize seem like more trouble than it's worth. A smaller prize takes a bit of the pressure off, but anyone receiving such a large cash payout can make mistakes. Common advice for lottery winners says to take the prize as an annuity to extend its life.

☆ JPMorgan's new affordable advice service lets investors call advisors as often as they want. Here's how it fits into exec Kristin Lemkau's plan to turbocharge the wealth business.
▼ + stars: | 2022-11-01 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +3 min

JPMorgan's new program lets clients get financial advice via phone or video as often as they want. The Personal Advisors unit is part of US wealth head Kristin Lemkau's digital ambitions. This new Personal Advisors channel is part of US wealth management CEO Kristin Lemkau's plan to expand digital offerings. It launches with more than 200 licensed financial advisors in seven metropolitan hubs, including Atlanta, Chicago, Jersey City, and San Antonio. The new remote advisory business was the "last white space" for JPMorgan, said Lahovitsky, head of Personal Advisors.

☆ JPMorgan is stepping up marketing for its wealth business and hired Robinhood's former head of content for a new role
▼ + stars: | 2021-07-06 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +4 min

Read previewJPMorgan is ramping up its marketing efforts with a hire from Robinhood in its quest to attract more investing clients. AdvertisementMoss, who will be based in New York, was previously head of content for Robinhood. While he was with Robinhood, Moss oversaw content for its products, customer experiences, social media, marketing, and educational materials, a JPMorgan spokesperson said. The largest US bank's US wealth business, run by chief executive and former chief marketing officer Kristin Lemkau, has some 4,000 financial advisors and $580 billion of assets under supervision. Prior to leaving the startup brokerage last month, Moss led content strategy for Marcus, Goldman Sachs's digital banking arm, the memo said.

Persons: —, David Moss, Jennifer Zuccarelli, Moss, Robinhood, Kristin Lemkau, Marcus, Goldman Organizations: Service, Business, JPMorgan Wealth Management, JPMorgan, SEC, Wall Locations: Robinhood, New York

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