Americans are stressed about Christmas shopping

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Consumers are stressed about Christmas (Financial Advisor Magazine)

A new survey by credit reporting agency Experian suggests that 41% of shoppers felt obligated to spend more than they could on holiday gifts. Additionally, 60% of consumers said that gift-giving puts a strain on their finances, reports Ted Knutson.

"Not surprisingly, the higher the income of the respondents, the less stress they feel. Yet nearly a third of shoppers from households with over $100,000 per year in income said they found they had to resist pressure to add to credit card debt," reports Knutson.

Here's how to get teens started on investing (Charles Schwab)

"If a teenager is motivated to invest, the best thing you can do is to help them get started," writes Carrie Schwab-Pomerantz. "Either a custodial brokerage account or a custodial Roth IRA offers a young person a chance to learn investing basics."

"When the [teen] is ready to make his first investment, there are a couple of ways to go. One approach would be to buy a mutual fund or ETF so he'd get instant diversification in a single investment. However, he might find it more engaging to buy a few shares of companies that he's familiar with or has an interest in—for example, a technology, entertainment or sports company," suggests Schwab-Pomerantz. 

Senior citizens lose an estimated $36 billion each year due to elder financial abuse (Financial Planning)

"Seniors are losing an estimated $36 billion each year to elder financial abuse, and things may not get better anytime soon: By 2050, the number of people age 65 and older with Alzheimer’s disease may nearly triple, from 5.1 million to a projected 13.8 million," reports Charles Paikert.

As such, Fidelity is out with a new program to help firms work better with older clients. They suggest that advisors should discuss the subject of dementia with them, should reach out frequently, develop stronger relationships with the person's family, regularly review the Investment Policy Statement, and be on the lookout for irregular spending habits.

4 quotes from great thinkers that every advisor should know (InvestmentNews)

Joe Duran put together four quotes that every advisor should remember, and also share with their clients. 

1. "The most important decision we make is whether we believe in a friendly or hostile universe." — Albert Einstein. 
2. "Life is the sum of all your choices." — Albert Camus
3. "It is difficult to find happiness within oneself, but it is impossible to find it anywhere else." — Arthur Schopenhauer
4. "The perfection of wisdom and the end of true philosophy is to proportion our wants to our possessions, our ambitions to our capacities … we will then be a happy and a virtuous people." — Mark Twain

UBS and Morgan Stanley got some Credit Suisse advisors (Think Advisor)

UBS nabbed two teams affiliated with Credit Suisse managing a combined asset base of over $2 billion in California and Massachusetts. Meanwhile, Morgan Stanley also scooped up an ex-Credit Suisse team advising clients with more than $5 billion in assets, which will be joining the wirehouse in New York, reports Marlene Y. Satter.

“We are pleased to welcome this exceptional team to Morgan Stanley,” said Vince Lumia, head of Morgan Stanley Private Wealth Management, in a statement. “They are well regarded in the industry, provide first class service to their clients, and are a welcomed addition to the firm.”

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