By Barron's Advisor Staff
Fidelity's website experienced technical problems on Monday morning, and some customers were unable to access their accounts as stocks rallied on news that the U.S. and China were enacting a partial pause on some tariffs. Customers took to social media to vent their frustrations, with one user posting on Reddit: "why oh why does this happen on high volume days?" The problems were resolved around noon, according to Downdetector.
Among other most-read wealth management articles this week:
Teaching clients to enjoy wealth . Financial advisors can increase their value by making sure clients spend their money and time on things that make them feel happy and fulfilled, writes columnist Brian Parker, founder of EP Wealth Advisors. Crafting a solid financial plan and making sure clients won't run out of money may not be enough to provide them with true peace of mind. "Many are stuck mentally, feeling bored, isolated, or like they no longer have a real purpose," Parker writes, and their advisor should help them "get unstuck."
Get ready for higher prices . President Donald Trump's tariffs are already increasing prices on consumer goods. More price hikes could be ahead. But when and how much prices will rise depends on the product and the knock-on effects of the tariff regime. Of course, it also depends on how long the tariffs stay in place and at what level, which is in flux.
Millionaire's tax may spark exits . Three years ago, ahead of a Massachusetts ballot initiative to impose a surtax on residents' incomes that exceed $1 million a year, business groups and other opponents warned that the measure would cause an exodus of wealthy citizens from the Bay State. Conclusive data on the policy's impact on state revenue aren't available yet, but at least one advisor says family office clients in the state have relocated or are seriously considering doing so.
Private investments for 401(k)s . More American retirement savers soon will be able to put private-market investments in their nest eggs. Empower, one of the nation's largest retirement-services providers, says it will make private investments available later this year in retirement plans it administers on behalf of employers. The move is one of the latest efforts to bring alternative investments that were once only available to institutions and wealthy individuals to the masses.
Robinhood's expansion continues . Robinhood Markets is launching new features for options trading, and on Tuesday it announced plans to acquire Canadian digital asset company WonderFi. Both moves are in service to two of its goals this year: winning more business from active traders and expanding its international reach. Robinhood's stock is up 56% this year compared with a 1% gain for the S&P 500.
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May 16, 2025 15:15 ET (19:15 GMT)
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