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Chase Bank is offering a $3,000 checking account bonus for its Private Client Checking account. The highest bank account bonus currently offered is from Chase Bank. Speak with a Private Client Banker to open your Chase Private Client Checking℠ account today. Other top checking account bonus offersIf Chase's checking account bonuses don't interest you, several other banks offer checking accounts with high bonuses. BMO Bank ReviewAxos Bank Rewards CheckingAxos Bank also has a up to $500 bonus for its Axos Bank Rewards Checking account.

Persons: —, we've, You'll, you've, Morgan, Chase, you'll Organizations: Chase Bank, Chase, Service, Morgan Wealth Management, Morgan, Secure Banking, Chase Private Banker, JPMorgan Chase Bank, N.A, FDIC, SoFi HSBC Premier, HSBC, HSBC Bank, HSBC Bank Review Huntington Bank, Huntington Bank, BMO, BMO Bank, Axos Locations: U.S, Huntington, Colorado , Florida , Illinois , Indiana , Kentucky, Michigan, Minnesota , Ohio, Pennsylvania, West Virginia, Wisconsin

☆ Stocks are booming in 2024, but financial advisors say it may be time to get a little defensive
▼ + stars: | 2024-07-16 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

With the S & P 500 surging more than 18% in 2024, it might be time for investors to make a few defensive moves in their portfolios. But that surge is spurring some financial advisors to reassess their clients' exposure to large-cap tech and turn toward currently unloved asset categories that could be poised to rise. "It might take a little longer to manifest but we think [health care] is an interesting combination of offense and defense, and it provides meaningful cash flows for investors," Saccocia said. Checking in on risk and cash Investors reviewing their 2024 gains should also reassess their risk profile and consider whether their asset allocation reflects their long-term goals. Tom Balcom, CFP and founder of 1650 Wealth Management in Lighthouse Point, Florida, has used custom market-linked notes to hedge clients' exposure to the market.

Persons: Nvidia —, Shon Anderson, Russell, Jerome Powell's, Shannon Saccocia, Neuberger Berman, Saccocia, Colin Gerrety, Gerrety, Tom Balcom, Balcom, Morningstar Organizations: Nvidia, Anderson Financial, Federal, Big Tech, Investors, JPMorgan Chase, UnitedHealth, Wealth Services Locations: Dayton , Ohio, REITs, North Bethesda , Maryland, Lighthouse Point , Florida

☆ Ultra-high-net-worth investors are betting on 2 key sectors right now, and both can be purchased as ETFs, according to a global family office
▼ + stars: | 2024-06-28 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Despite the overly concentrated market that's piled into mega-cap technology stocks, the bulk of gains are still coming from that sector. While some investors fear that part of the market is too rich, they also aren't sure where else to find their gains. "So looking forward, we're somewhat concerned about the concentration right now in the market with the tech sector of the S&P, which is up 15%; the tech sector is up 27%". You want to ensure broad exposure to infrastructure, which means looking for an ETF that holds the sector's biggest names.

Persons: —, Mimi Duff, Duff, we're, it's, there's Organizations: Service, GenTrust's, Business, Infrastructure Investment, Jobs, Dev, Infrastructure, International Energy Agency Locations: York, Washington, Maryland

☆ Israel is losing its allure for millionaires as war shatters its image as a 'safe haven'
▼ + stars: | 2024-06-20 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

Between 2013 and 2022, Israel attracted a net inflow of over 10,500 high-net-worth individuals, according to Henley & Partners. According to Henley & Partners data, in 2023, inquiries about immigration programs in exchange for investments from Israelis increased by 232%. Despite the recent net outflow of millionaires, Marconi told Business Insider there remains a draw for wealthy individuals. Additionally, as the world's only Jewish state, he said it would always attract wealthy individuals seeking religious refuge. AdvertisementIn an article for Henley & Partners, Marconi also pointed out that Israel had long "stood out as a rare economic bright spot in a turbulent region."

Persons: —, Dan Marconi, Marconi, Israel Organizations: Service, Henley Private Wealth, Henley & Partners, Business, Henley & Partners Israel, Marconi, BI, Israel Locations: Israel, Gaza

☆ These are JPMorgan's 11 must-read books for the summer, from AI to Formula 1
▼ + stars: | 2024-05-31 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

JPMorgan just published its 25th annual summer reading list. The bank suggests 11 titles it believes capture a world experiencing "radical shifts." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . JPMorgan Asset and Wealth Management's chief communications officer Darin Oduyoye touted the bank's picks as an attempt to capture a world experiencing "radical shifts." This story is available exclusively to Business Insider subscribers.

Persons: Matt Damon, —, Darin Oduyoye Organizations: JPMorgan, Service, Wealth, Business

☆ The 10 books the rich will be reading this summer
▼ + stars: | 2024-05-26 | by ( Robert Frank | ) www.cnbc.com time to read: +11 min

That's why J.P. Morgan Private Bank, every May, releases its summer reading list, often serving as a book club for billionaires. This year marks the 25th anniversary of the list, now called the J.P. Morgan Summer Reading List. The 10 books are carefully curated to match the tastes and preoccupations of J.P. Morgan's wealthy clients. It also helps with client events, since authors on the list often agree to do special dinners or speaking events for J.P. Morgan clients. Authors love being on the list as well since J.P. Morgan buys thousands of books to hand out and since clients often refer the books to others.

Persons: Robert Frank, Today's, Alicia Keys, Swizz Beatz, J.P, Morgan, Darin Oduyoye, Oduyoye, Gary White, Matt Damon, Charles Duhigg, Jonathan Haidt, Haidt, Kasseem Dean, —, Gordon Parks, Michel Basquiat, Lorna Simpson, Odili Donald Odita, Kennedy Yanko, Kimberli Gant, Salman Khan Salman Khan, Jack Daniel, Fawn Weaver, Daniel's, Daniels, Weaver, Joshua Robinson, Jonathan Clegg, Robinson, Clegg, Melinda Stevens, Issy von Simson, Tabitha Joyce, Fortunato, Adam Pearson, Fortunato Chocolate, Laura Mae Martin, Laura Mae Martin —, Martin, Jake Gyllenhaal, Greta Caruso, Tony, Damon Organizations: Morgan Private Bank, Morgan, Reading, Wealth Management, J.P, Giants, Art, Phaidon, Brooklyn Museum, Education, Khan Academy, Wall, Mercedes, Nacional, Google, Solutions, JPMorgan, Manhattan Company Locations: Water, Lynchburg , Tennessee, America, United States, Croatian

☆ JPMorgan is making a big bet on AI. Here's how its private bankers are using it.
▼ + stars: | 2024-05-23 | by ( Bianca Chan | Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

JPMorgan is testing a generative AI "copilot" within its private bank, a move that is already saving advisors a couple of hours a day. AdvertisementHow Donnelly's team drives innovation in the private bankJPMorgan's private bank caters to clients with at least $10 million in assets. The unit's $974 billion in assets are managed by just over 3,500 client advisors. When the CEO of JPM's private bank tapped an advisor with little to no technical experience to lead digital product for his division, it was intentional. He didn't "want the individuals that are deciding the advisor experience and client experience not to sit amongst the front-office users," she said.

Persons: Karen Donnelly, Donnelly, Morgan Stanley, Mary Erdoes, Dan Pinto's, JPMorgan's, She's, aren't, David Frame, —, Donnelly doesn't, gunning Organizations: Service, JPMorgan, Business, Advisors, ChatGPT

☆ JPMorgan's private bank is launching a generative AI tool. A top exec walks us through her tech strategy and how she wants to transform bankers' jobs.
▼ + stars: | 2024-05-23 | by ( Bianca Chan | Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

☆ Is it time to rethink the 4% retirement withdrawal rule? Experts weigh in
▼ + stars: | 2024-05-13 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

TIAA has launched a new metric to show why the 4% rule combined with an annuity can provide a higher amount of income than just using the 4% rule alone. For example, if a retiree has $1 million in total savings, the 4% rule would provide them with $40,000 in their first year of retirement. That is based on the combined income of the annuity and a 4% withdrawal on the remaining $666,667 portfolio. The first-year withdrawal of the annuity strategy — $52,667 versus $40,000 — is 32% higher and $1,056 more per month than just using the 4% rule. When withdrawal rates may be higherThe 4% rule has its blind spots when applied to today's retirees, according to recent research from Blanchett.

Persons: TIAA, Benjamin Goodman, Colin Gerrety, Goodman, Blanchett, Morningstar Organizations: Istock, Getty, Social Security, TIAA Institute, Wealth, Inflation Protection Securities, Security Locations: Corner , Virginia

☆ Panama Canal to slash booking slots due to drought over coming months
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. REUTERS/Aris Martinez/File Photo Acquire Licensing RightsPANAMA CITY, Oct 31 (Reuters) - The Panama Canal, one of the world's main maritime trade routes, will further reduce daily ship crossings in the coming months due to a severe drought, the authorities managing the canal said late on Monday, increasing shipping costs. Booking slots will be cut to 25 per day starting Nov. 3 from an already reduced 31 per day, the Panama Canal Authority (ACP) said in a client advisory, and will be gradually reduced further over the next three months to 18 slots from Feb. 1. In recent months, the ACP has imposed various passage restrictions to conserve scarce water, including cutting vessel draft and daily passage authorizations. It also said delays for some gas transporters were at record highs in Panama, pushing up the cost of shipping liquefied gas from the U.S.

Persons: Aris Martinez, Eli Moreno, Brendan O'Boyle, Isabel Woodford, Josie Kao Organizations: Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Panama Canal Authority, U.S . Energy, Administration, Thomson Locations: Cocoli, Panama, Panama City, PANAMA, Gatun Lake

☆ Boomers enjoy vacation while Gen Z feels guilty about being away from work, survey finds
▼ + stars: | 2023-08-13 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

A third of Gen Zers say they feel guilty while on vacation, LinkedIn survey finds. Gen Z feels more guilty than Millennials, Gen X, and boomers about not working on holidays. Millennials and Gen Xers didn't fall far behind Gen Z on the scale of guilt. And only about half of Gen Zers surveyed by LinkedIn said they had planned a vacation this year. Luxury retail client advisor Razonie Napier told Insider that he struggles with turning off his work phone when he's on vacation.

Persons: Gen Zers, Gen Z, Gen X, Z, Gen, boomers, LinkedIn's George Anders, they're, Anders, Xers, Zers, Razonie Napier, Napier, he's Organizations: Service, United, Pew Research Center, LinkedIn Locations: Wall, Silicon, Millennials, United States

☆ Panama Canal postpones depth restrictions after much-needed rain
▼ + stars: | 2023-06-24 | by ( Elida Moreno | ) www.reuters.com time to read: +1 min

PANAMA CITY, June 23 (Reuters) - The Panama Canal will postpone depth restrictions that were set to affect the largest ships crossing the key waterway, the canal authority said, after much-needed rain provided relief to the strained maritime passage. However, rains are expected to dump between 70 mm (2.76 in) and 80 mm (3.15 in) of precipitation into the Panama Canal basin over the next 72 hours, according to the country's weather service. Neo-Panamax ships can continue to sail at the previous depth limit of 44.0 feet (13.41 m) and Panamax ships can move at 39.5 feet (12.04 m), the canal authority said in an advisory to customers seen by Reuters. The canal authority had previously announced another tightening, set for July 19, but did not refer to this in its client advisory. Since the beginning of the year, the canal had instituted a number of depth restrictions as a drought, caused by the El Nino weather phenomenon, had put pressure on its water supplies.

Persons: Eli Moreno, Kylie Madry, Diane Craft Organizations: PANAMA CITY, Reuters, El, Thomson Locations: PANAMA, Panama

But if you're still missing key forms or feeling overwhelmed, you can buy more time by filing a free tax extension. You can avoid a late-filing penalty with an extension by the federal deadline on April 18. You may also need a separate state income tax extension, depending on where you live. How to file a federal tax extensionIf you can't make the April 18 tax deadline, there are a few ways to file for a federal extension, with or without a tax professional. One option is to file Form 4868 online via IRS Free File, which offers free guided tax prep software.

Bill Oxford | E+ | Getty ImagesWith the tax deadline approaching, the IRS has issued roughly 54 million refunds worth about $158 billion as of March 17, the agency reported Friday. Indeed, the average refund payment was $2,933 compared to $3,305 at the same point last year. For example, many families got relief in 2021 from the enhanced child tax credit, worth up to $3,600 per child, and the child and dependent care tax credit of up to $4,000 per dependent. For 2022, the child tax credit returned to a maximum of $2,000 per child, and the child and dependent care tax credit was $1,050 per dependent. As of March 19, 2021, the average refund was $2,929, only $4 less from the numbers reported Friday.

☆ Gen Z is all about 'real moments' when traveling - and that means hotels are pushing to reinvent themselves fast
▼ + stars: | 2023-03-26 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

Two Gen Z travelers tell Insider they're willing to pay up for an authentic experience that also feels luxurious. One hospitality expert says technology and convenience should be at the forefront of hoteliers' minds when targeting Gen Z guests. "When it comes to traveling, Gen Z prioritizes authenticity and living in the moment," said Sharon Silverstein, the head of US verticals at Snapchat parent company Snap. "(Gen Z wants) to feel like they're doing something – that they're relevant — because they're living at home and can't afford to live otherwise. So Gen Z spends its money on experiences, but they want those experiences to be educational and have values that support their beliefs," Dawson Sheehan said.

These days, it is very common for wealthy families to own residences in more than one state, making relocation even easier. In practical terms, having domicile in a state means that state can impose its respective income tax on all the income reflected on the individual's federal income tax return, regardless of the source of that income. But before you call the moving van, understand that state taxation, including state income tax as well as state estate and inheritance taxes and potential wealth taxes, is only one factor to consider as you assess changing your domicile. Some who redomicile to a state with no income tax may find that they are paying the state in other ways, such as higher inheritance, property and/or fuel taxes. That decision is even more challenging considering that states often have different rules defining what they consider domicile.

☆ Dega Nalayeh is a Somalian refugee-turned-banker to the uber-rich. Here is how she built her $6.7 billion book of entertainment and sports clients.
▼ + stars: | 2022-07-07 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

She joined Bank of America in 1998 and is now a top private banker with $6.7 billion in client assets. Nalayeh told Insider how she built her book while raising a toddler as a single mom. Today, Nalayeh is a top advisor in the private bank with $6.7 billion in client assets as of December 2022, the bank said. The Los Angeles banker told Insider how she amassed her clientele of entertainment and tech millionaires. In 2000, she moved to the private bank in a customer service role, supporting private bankers with wire transfers, for instance.

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