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AAA opens new Watertown Travel & Insurance Center
“Having a modern, up-to-date location is key to meeting the needs of our members,” Tony Spada, president and CEO of AAA Western and Central New
Wealth Management Special Report
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Nationwide Life Insurance to pay $5.6M for annuity-related violations
The New York State Department of Financial Services (DFS) entered into a consent order with Nationwide for those regulation violations, Adrienne Harris, superintendent of financial services announced May 20. Under the order, Nationwide will pay about $3.4 million in restitution to New York State consumers, along with $2.24 million in penalties. Impacted consumers will also
Wealth manager says alternative investments can help diversify portfolios
UTICA, N.Y. — Typical investments in stocks, bonds, and money market funds still make up the foundation of most investment portfolios, but alternative investments can offer a variety of ways to diversify, says one Utica wealth-management professional. “There’s this whole other universe of ways to make money,” says David K. Griffith, owner of D.K. Griffith
Reed joins Key Private Bank in Syracuse
SYRACUSE, N.Y. — Heather Reed has recently joined Key Private Bank in Syracuse as an associate relationship manager. In this role, Reed is responsible for managing and building client relationships based upon knowledgeable advice that is aligned to the clients’ financial needs and advocating solutions that help clients reach their goals, KeyBank said in an
Strategic Financial lead advisor, Mattacola, earns CFP designation
UTICA, N.Y. — Strategic Financial Services, Inc., an independent wealth-management firm based in Utica, recently announced that Gregory Mattacola, has achieved his CFP designation from the Certified Financial Planner Board of Standards, Inc. This important industry credential is awarded to individuals who successfully complete the CFP Board’s educational curriculum and then a comprehensive exam. It
VIEWPOINT: The Death of the 60-40 Portfolio has been Exaggerated
The financial markets are off to a rough start in 2022. Through May 31, the S&P 500 equity index posted a -12.21 percent return while the Aggregate Bond Index returned -8.47 percent. So much for diversification. Simple math shows that the classic 60-40 asset-allocation portfolio’s return is a poor -10.74 percent. Many are using this negative
CEO FOCUS: Tech Garden Expansion Continues Investment in Innovation Ecosystem
Central New York’s innovation ecosystem is thriving. The region has built on its historic legacy of entrepreneurship, following more than a decade of investment and strategic programming, creating a place where innovators can turn their vision into viable companies. We see this progress in the fact that per-capita capital investments were a mere $27 in 2000-2010,
Brown & Brown acquires finance and insurance provider to auto, powersport dealers in New York state
Brown & Brown, Inc. (NYSE: BRO), the Florida–based parent of Syracuse–based Brown & Brown Empire State, announced it has acquired “substantially all of the assets” of Dealer Specialties Group Corp. Dealer Specialties is a Saratoga Springs–based independent sales and service organization providing finance and insurance (F&I) products and sales support to automotive and powersport dealers,
Five Star Bank parent company to pay next quarterly dividend in early July
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, recently announced that its board of directors has approved a quarterly cash dividend of 29 cents per common share outstanding. The banking company will pay the second-quarter dividend on July 5, to shareholders of record on June 17. It is the same
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