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Maverick new book details complexities of finance

Professor Anthony M. Criniti IV offers a fresh look at the science of wealth management in “The Necessity of Finance”

PHILADELPHIA – In “The Necessity of Finance” (ISBN 0988459507), Dr. Anthony M. Criniti IV breaks down the complex details of the financial world into easy-to-digest terms any layman can understand and even master. Finance is a completely separate field from economics and as such, Dr. Criniti sets out to explain real-world topics that investors and “financialists” need to inculcate into their ideological portfolio.

Global wealth accumulation is at its highest levels ever. There are more billionaires and oligarchs living today than at any other time in human history. Yet as the American and global financial system has come under critical scrutiny in recent years, consumers and ordinary citizens are seeking answers about the world of finance. Why is money important? Is it merely ink and paper or digits on a computer screen. Why does finance matter? How might we come to understand its many intricacies which act as a multi-dimensional jigsaw puzzle? The answers will both interest and surprise readers.

“Most of the major theories developed in finance were created by economists, physicists, mathematicians, etc. Finance, although highly interrelated with many other subjects, is a separate field of study that is often confused with others,” says Dr. Criniti. “With world wealth accumulating to its highest point in history, the necessity to understand this subject is more crucial than ever.”

Readers will learn what the difference between money and wealth is and will find answers to many of life’s financial questions. What is risk and return? What kinds of investments exist? What are the different techniques for selecting investments? And what role does ethics play in finance? The author has created a true page-turner able to clarify the definition, purpose and goals of both finance and economics while exploring financial concepts in a straightforward manner.

The Necessity of Finance” is available for sale online at Amazon.com.

About the Author:

Dr. Anthony M. Criniti IV is a former financial consultant and a current professor of finance at several universities.  He earned a PhD in applied management and decision sciences, with a concentration in finance. A native of Philadelphia, he has also received many financially related designations, including CHFC, CLU, REBC, and RHU. Dr. Criniti is an active investor and has traveled the world studying various aspects of finance. He is also the author of the acclaimed finance book, The Necessity of Finance and the newly released The Most Important Lessons in Economics and Finance.

MEDIA CONTACT:

Dr. Anthony M. Criniti IV

E-mail:                                 info@learn-about-finance.com

Web:                                    https://learn-about-finance.com/

REVIEW COPIES AND INTERVIEWS ARE AVAILABLE UPON REQUEST

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Jewelers To The Royals Since 1890 Launch Diamondere

BY ELIMINATING MIDDLEMEN, EVERYONE GETS ROYAL TREATMENT AT AFFORDABLE PRICES

PALO ALTO, Calif., Jan. 24, 2013, Jewelry is in the very DNA of Anish Godha , 23 and Varun Godha, 28. The recent entrepreneurial graduates of Stanford and Cornell are finally providing public access to their family’s 122 years of jewelry design and manufacturing with the launch of Diamondere.com, an affordable made-to-order fine jewelry e-commerce platform. In the past, their family focused exclusively on signature jewelry for the royals, dignitaries, and celebrities, which required significant personalization. With the surge of technological innovations like 3D printing and computer-aided design (CAD), the Diamondere platform now offers the same level of individual attention for rings, bracelets, earrings, necklaces and cufflinks to everyone.

For any design, buyers can choose from a variety of colored diamonds, colored gemstones, precious metals and engrave their purchases for free – all online and instant. Unlike its competitors, because the firm manufactures and distributes the jewelry itself, there are no middlemen and Diamondere can guarantee prices at least 30% lower than other online retailers and at least 50% lower than traditional retail. Some designs featuring colored gemstones like rubies, emeralds and sapphires are priced up to 75% lower than traditional retailers since the family procures the best gemstones themselves!

“Jewelry is a deeply personal and timeless asset. Diamondere enables customers to tell their own story with made-to-order, signature jewelry at a fraction of the price charged by others,” states Anish.

What makes Diamondere different from its competitors? Representing over 7 generations of designers, their personal library features more than 65,000 jewelry designs, out of which about 600 have been handpicked for the site. Each of these designs can be treated as templates. For instance, the same ring design that costs $15,000 with a diamond will cost $1,500 with a sapphire.

Customers can also work with the Diamondere Design Team to make further modifications to any design or even submit their own creations to be manufactured.

Besides the obvious savings to customers, Anish’s father continues the family’s tradition of personally searching throughout the world to find the best stones mined at the most affordable prices. This gives the customer a vast range of colored diamonds and colored gemstones in addition to the traditional white diamond, which is also offered.

Before Diamondere, a person had to be a Royal to have this level of personalized jewelry… now with Diamondere everyone gets the Royal treatment!

http://www.Diamondere.com

Contact: Kelly Fogelman Group 415 388 8009

Michele Kelly mkelly@kfgroup.net, Ed Fogelman ed@kfgroup.net

SOURCE: Diamondere

 

 

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Italy’s Fashion Moguls Steal The Spotlight

Wealth-X Unveils Top 10 Wealthiest Italians

SINGAPORE, Jan. 24, 2013, Wealth-X, the ultra high net worth (UHNW) business development solution for Global Private Banks, Luxury Brands, Educational Institutions and Non-Profits, has just released a list of the top 10 wealthiest Italians.

Topping the list is Michele Ferrero, owner of renowned chocolate maker Ferrero, with a net worth of US$21.7 billion. Coming in second is Leonardo Del Vecchio, founder and chairman of Luxottica Group, with a net worth of US$18.4 billion. Giorgio Armani, president and CEO of Armani Group, is ranked third with a net worth of US$9.7 billion.

Rank

Name

Position

Company

Net

Worth

(US

$billion)

1

Michele Ferrero

Owner

Ferrero International

21.7

2

Leonardo Del Vecchio

Founder and Chairman

Luxottica Group

18.4

3

Giorgio Armani

President and CEO

Armani Group

9.7

4

Silvio Berlusconi

Founder and Owner

Fininvest

7.8

5

Miuccia Bianchi Prada

Co-Founder and Chairman

Prada

7.3

5

Patrizio Bertelli

Co-Founder and CEO

Prada

7.3

7

Stefano Pessina

Executive Chairman

Alliance Boots

6.1

8

Gianfelice Rocca

Chairman

Techint Group

3.3

8

Paolo Rocca

CEO

Techint Group

3.3

10

Diego Della Valle

Chairman

Tod’s

3.1

The collective wealth of the top 10 wealthiest Italians stands at US$88 billion, which comprises 40% of the combined net worth of the Italian UHNW population. In particular, fashion moguls constitute half the list and represent 52% of the combined net worth of the top 10 wealthiest Italians.

Commenting on the list, Wealth-X CEO, Mykolas D. Rambus said, “The top Italian billionaires are inextricably linked to luxury fashion. We often see that there are strong social and professional connections among global billionaires and the Italians are no exception. Understanding a UHNWI’s social capital is increasingly critical for professionals who wish to successfully engage with this ultra wealthy community.”

For the full list and supplemental analysis, please visit: http://www.wealthx.com/articles/2013/top-10-wealthiest-italians

About Wealth-X

Wealth-X provides detailed intelligence on ultra high net worth (UHNW) individuals globally. The firm’s Wealth-X Professional solution is the standard for banking, marketing and not-for-profit professionals working with the ultra affluent. Wealth-X is headquartered in Singapore with offices in all major financial centres.

For more information about Wealth-X, please visit: www.wealthx.com

SOURCE: Wealth-X

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Manulife Financial, John Hancock Investor Sentiment Surveys: Affluent North American Investors Believe They Are Financially On Track

  • Affluent Canadian and American investors optimistic about the future
  • Seventy per cent of affluent North American investors on track to meet financial goals
  • US investor sentiment holds steady while Canadian sentiment rises
  • Canadians and Americans aligned in financial New Year’s resolutions and priorities

TORONTO, Jan. 21, 2013, Affluent North American investors are feeling very optimistic about their personal finances heading into 2013. Seventy per cent of affluent investors in both Canada and the United States agree that they are either ahead of plan, or on track, to meet their personal financial goals and about 50 per cent anticipate that their financial position will improve over the next two years.

Six out of ten affluent Canadian and American investors say that they are on track to meet their current financial goals while roughly 10 per cent say that they are ahead of plan on their goals. Just one in five investors surveyed in both countries indicate that they are behind on their financial goals but they are likely to catch up.

“It’s positive to see that, despite ongoing news about the fiscal cliff, global debt and U.S. debt ceiling, economic uncertainty and other challenges, our surveys indicate that affluent North American investors are feeling very confident about their financial future,” said Paul Lorentz , Executive Vice-President, Investment and Insurance Solutions for Manulife Financial.

The findings are derived from a comparison of the results of the latest Manulife Financial and John Hancock Investor Sentiment Index surveys. The surveys – conducted in Canada and the U.S in December 2012 – measure affluent investors’ feelings about whether or not this is a good time to invest in a variety of savings and investment vehicles and the likelihood of purchasing specific financial products and services.

Investor sentiment differs in North America
In Canada, overall affluent investor sentiment index strengthened in the second half of the year, rising to +31, from +26 in January 2012. In the U.S., investors’ confidence held steady in the fourth quarter of 2012, with the John Hancock Investor Sentiment Index® ticking upward slightly to +18 from a score of +17 in the third quarter of last year.

New Year’s resolutions, financial priorities aligned
Other findings from the surveys show that Canadians and Americans are aligned in their financial New Year’s resolutions and how they plan to achieve their top financial goals.

  • In Canada (31 per cent) and the United States (29 per cent), the top financial-planning related New Year’s Resolution is to trim household budgets.
  • Rebalancing portfolios is the second top resolution for 19 per cent of Canadians and also for 19 per cent of Americans.

Top financial priorities for 2013 among affluent Canadians and Americans differ slightly.

  • Canadians’ top three priorities are to manage/maintain current lifestyle (32 per cent), pay down debt (18 per cent) and save for retirement (15 per cent).
  • American respondents say their top financial priorities are the same: however, they differ in order with maintain/manage their current lifestyle (35 per cent) topping the list followed by, saving for retirement (29 per cent) and paying down debt (11 per cent).

Similar steps to achieving financial goals
When asked what steps, if any, affluent investors are taking to achieve their financial goals, Canadians and Americans identified the same top four steps. However, these steps varied in terms of priority.

Percentage of Affluent investors that indicated what steps they have taken to achieve their financial goals:

Step taken

Affluent Canadians

Affluent Americans

Talked to a   financial
professional for advice

45%

40%

Saved a certain   amount on
a regular basis

41%

59%

Reduced spending

40%

45%

Calculated how much
money needed to achieve
goal

27%

41%

Seven in ten affluent Canadians work with a financial advisor to achieve their financial goals while in the U.S., five in ten affluent investors choose to seek professional financial advice. However, affluent investors in both countries indicated that they work with advisors for a similar reason. Seeking advice on how to get better returns is the main reason for Canadians (24 per cent) and Americans (56 per cent) to work with a professional financial advisor.

“We encourage people to work closely with an advisor and stick to a financial plan,” Mr. Lorentz added. “People with integrated financial plans, working with strong, reliable and trustworthy companies, generally feel better prepared for the future, are more confident about reaching their goals and are better equipped deal with the ups and downs in the economy.”

In both countries, those who do not work with a financial advisor say it is because they feel knowledgeable enough to manage their investments on their own (Canada, 26 per cent, U.S., 43 per cent).

About the Investor Sentiment Index Surveys
Both Investor Sentiment Index surveys are conducted in a similar fashion. The survey measures affluent investors’ feelings about the current economic climate and their evaluations of what represents a good or bad investment given the current environment. The poll also asks consumers about their confidence in reaching key financial goals and the likelihood of purchasing financial products and services.

An online survey of 1,127 investors was conducted in the U.S. between November 26th to December 7th. In Canada, a sample of 1,003 investors were surveyed between November 30th to December 8th. Both surveys included household decision-makers at least 25 years of age, with a household income of $75,000 or greater and investable assets of $100,000 or more.

The Canadian research was conducted by Research House, an Environics Company. The U.S. survey was conducted by independent research firm Mathew Greenwald & Associates.

In a similarly-sized random sample survey, the margin of error would be plus or minus +/- 3.10 percentage points at the 95% confidence level.

About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions.

Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$515 billion (US$523 billion) as at September 30, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at manulife.com.

About John Hancock
John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.

SOURCE: Manulife Financial Corporation

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When to Buy Appliances: January, Fall Best Times to Shop

Many major retailers are advertising appliance sales right now. While most people wait until an appliance breaks to replace it, those who buy now or later this fall will get the best deal.

CHICAGO, Jan. 21, 2013,  Shopping for a major appliance in January can mean substantial savings, according to Viewpoints (www.viewpoints.com), a leading consumer reviews and product ratings website. That’s because stores are trying to clear inventory from the past year.

January appliance sales

“January is a notoriously slow month for retailers across the board, and the need to push sales this month, combined with the quickly diminishing value of anything left over, prompts retailers to hold sales and also be willing to bargain to close a sale,” says Matt Ong , retail analyst at NerdWallet.

Appliance deals again in the fall

But waiting until September through November can result in even more savings. That’s when new models come out, so stores slash prices on older versions to clear space in the showroom.

Andrew Schrage , co-owner of the website, Money Crashers, notes exceptions. Air conditioners and refrigerators should be purchased in winter and spring, respectively. And there are other strategies. “For instance, if you shop earlier in the week when stores have fewer shoppers, you can receive better service. You certainly don’t want to invest a lot of money in a new appliance without making an informed decision.”

Expect to negotiate

Another factor in getting a great price is being willing to haggle, says Schrage. For the best deal, he recommends Sears, Home Depot, Lowe’s, h.h. gregg, BrandsMart and Best Buy. Schrage also suggests signing up for email updates from websites like FatWallet, which posts appliance deals from both online and brick-and-mortar stores.

Many consumers favor new models, but Schrage advises, “Unless there’s a new feature that is simply a must-have, consumers do not miss out on much by purchasing older models on sale.”

Read reviews

Shoppers also should read product reviews before purchase. “It’s only a bargain if you get what you pay for. Viewpoints provides authentic feedback from consumers on how you can expect the appliance to work in real-life situations,” says Viewpoints Founder and CEO Matt Moog.

Viewpoints (http://www.viewpoints.com) features 480,000+ consumer reviews covering 34,000+ products, including appliances, consumer electronics, mattresses, health and beauty items and insurance. Both reviews and ratings are available free of charge and without registration.

Contact: Carol Fowler 312-656-9727

SOURCE: Viewpoints

RELATED LINKS: http://www.viewpoints.com

 

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New Study Shows That 1 In 4 Americans Will Tap Retirement Plans For Non-Retirement Needs

Cash-Outs, Loans, and Heavy Fees Take Heavy Toll on Nation’s Premier Retirement Savings Program

WASHINGTON, Jan. 16, 2013, New research released today by HelloWallet finds that over 25% of U.S. workers participating in a 401(k) plan will access their 401(k) savings before they reach retirement, now withdrawing $70 billion annually. The study, which analyzed consumer finance data from the Federal Reserve and the U.S. Census Bureau, raises significant questions about the future of the bedrock retirement program as more workers move from traditional pension benefits towards tax-incented defined contribution programs. The survey results also hold significant implications for employers, who collectively invest $118 billion annually in 401(k) programs for their workers’ retirement.

The research finds that one out of four participants in 401(k) retirement programs will either cash-out their savings before retirement – incurring substantial penalties and taxes – or forfeit them to loans. Among the other findings in the research:

 

  • 26 percent of 401(k) participants now use their 401(k) savings for non-retirement needs;
  • 75 percent report that they breached their savings because of basic money management problems;
  • Workers now withdraw or breach over $70 billion annually out of their 401(k)s for non-retirement needs;
  • Penalized withdrawals increased from $36 billion to about $60 billion between 2004 and 2010;
  • Workers in their 40’s are most likely to breach their savings for non-retirement needs.

“This research shows that employers are not getting the ROI that they may think they are from their retirement investments,” said HelloWallet founder and CEO Matt Fellowes , a former Brookings Scholar who led the study. “Investing in retirement savings is essential for all Americans, but this study demonstrates that a large share of U.S. workers lack the basic financial skills needed to actually benefit from those savings, and it’s costing both them and their employer dearly.”

“While there is no question about the need for retirement savings, the issue raised by our research is whether employees are given the financial tools, including unbiased guidance, to make the best decisions every step of the way,” said Fellowes. “These data strongly indicate that, for many workers, investment advice is misaligned with their investment needs and, as importantly, with their basic day-to-day financial needs.”

The research also finds that only a small percentage of employees (8 percent) are withdrawing funds because they have lost their jobs. Instead, 75 percent of those who have made early withdrawals have done so because they lack basic money management skills and need to meet basic money management challenges, such as emergencies, credit card payments, and health care. In many cases, better planning and guidance would put them on a track to avoid costly mistakes, take advantage of the tax incentives, and accumulate the savings needed for retirement.

For employers, the implications of the research are substantial. American companies now spend $118 billion annually on retirement contributions with the expectation that employees will take maximum advantage of these programs to improve their financial well-being. The new research suggests that employers’ massive investment is not always delivering the intended results.

To aid employers in evaluating the effectiveness of their retirement and other Rewards programs, HelloWallet is providing an online diagnostic. Called the “Financial Wellness Diagnostic,” this free tool provides employers with insight into the needs of their workforce to help them better align their benefits investments to meet that need.

To receive a complete copy of the study, click here.

About HelloWallet. HelloWallet is the leading provider of behavioral technology applications that help organizations improve their performance through aligning their Total Rewards spending with their human capital needs. HelloWallet is headquartered in Washington DC and is backed by Morningstar, Inc., TD Fund, Grotech Ventures, and Revolution LLC. For more information, please visit our website www.hellowallet.com or call 866.55.HELLO.

Contact:
Don Goldberg
don@bluetext.com
202-365-5224

SOURCE: HelloWallet

RELATED LINKS: http://www.hellowallet.com

 

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Extravagance Over Necessity Concerns Financial Experts

LONDON, January 11, 2013,

A lot of people live under the illusion that life insurance is an expensive luxury that saps funds from other more pressing purchases, although it has recently come to light that members of the public are still spending large sums of money each year on holidays, fashion, style, food and drink, entertainment and technology.

It’s only natural that people’s priorities fluctuate and vary in a changing world, but experts are concerned that life insurance should be seen as a luxury rather than an essential when so many of the perceived essentials might just as easily be considered luxury items.

In a few weeks’ time, life insurance premiums will rise in line with the EU Gender Directive but until then members of the public may be able to take advantage of much more favourable rates. The date the new strategy comes into effect is December 21st and countless people have already contacted specialists like Lifebroker in order to get a policy sorted out in good time.

The team at Lifebroker is committed to finding the best deals on life insurance for its customers and now is definitely a crucial time for reassessing where the genuine priorities lie. Specialists are encouraging households to ask themselves whether they couldn’t afford life insurance simply by saving a little money on the luxuries here and there.

Financial advisers recognise that life insurance is an important part of protecting the family. A life insurance policy ensures that debts and mortgage repayments can be addressed when the policy holder dies, meaning that dependents are shielded from having to pick up the pieces. Specialists also stress that life insurance is actually a cheap and fundamental part of life’s administration.

This is something that the professionals are always keen to convey to their customers and the EU Gender Directive simply adds a greater sense of urgency to the situation, giving members of the public a very real time scale in terms of making savings on a real life essential.

SOURCE: Lifebroker

 

 

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