Stock markets like certainty. That's why the markets tend to get a boost after presidential elections, regardless of who wins. But young Americans are strikingly more bullish on the 2016 presidential election than their Generation X and baby boomer counterparts. According to a recent RBC Wealth Management poll, 37 percent of millennials (ages 18 to 34) believe the election will boost the economy, versus 30 percent Gen Xers (ages 35 to 54) and 29 percent of boomers ages 55 and older. The younger group also had a more positive outlook on their personal financial situation, with 40 percent of millennials and 37 percent of Gen Xers saying they believe the value of their investments will improve after the election, versus only 23 percent of boomers. "No longer earning a paycheck, boomers are more dependent on the economy and market for growth in their investment portfolios than the millennials and GenXers who are either in or just entering their peak earning years,” said Janelle Nelson, vice president and portfolio analyst at RBC Wealth Management-U.S.
Jobs in the financial services industry remain among those with the highest salaries for new college graduates, according to Fox Business Network's Cheryl Casone. She listed finance and accounting degrees as the top-paying jobs upon graduation. A bachelor's degree in finance can lead to a job at an investment bank, mutual fund or insurance company, which pay a median annual salary of $76,950, nearly double the average of all workers of $34,750. Accounting majors can expect a median pay of $63,550. Financial services is definitely a growth industry - Casone states that it's expected to grow 16 percent by 2022, compared to an national average of 11 percent.
Advicent Solutions announced a new integration between its Figlo interactive financial planning tool and Orion Advisor Services on Monday, enabling Orion users to access real-time data from Orion while using Figlo. The two companies already formed a partnership to integrate Orion with Advicent’s NaviPlan, another financial planning tool, and Cory Olson, Advicent’s senior global product director, said it gives advisors more choice with the tools they want to use. “By spending less time entering data, they are able to expand their business and create more plans for their clients.” Advisors looking to learn more can tune into a webinar on Thursday.
Some celebrities’ fame and influence are so great that they can continue amassing fortunes even after death. Forbes recently compiled its annual list of the year’s top-earning deceased celebrities, and once again, Michael Jackson is number one, pulling in $115 million in 2015. The rest of the list is largely populated by the same cast of characters that appear every year, including Elvis, Elizabeth Taylor and Peanuts creator Charles Schulz. One notable new addition is “The Fast and the Furious” star Paul Walker, who raked in $10.5 million, presumably on the back of the success of this year’s “Furious 7,” which is currently the fifth highest grossing movie ever.