Investments
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FS Investments to Relocate Philadelphia Headquarters From the Navy Yard
FS Investments recently announced it will be moving from the Philadelphia Navy Yard to the new $300 million mixed-use tower in Schuylkill Yards, writes Jeff Blumenthal for the Philadelphia Business Journal. The move comes after signing a 16-year lease and allows the alternative asset management firm to increase its square footage by 46 percent. By…
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Dallas Firm Takes Majority Stake in Bensalem’s Rita’s Italian Ice to Drive Growth
Bensalem staple Rita’s Italian Ice & Frozen Custard has received a majority investment from Maple Park Capital Partners, a newly formed Dallas firm, to fuel its continued growth, writes Emma Dooling for the Philadelphia Business Journal. The financial terms of the deal were not disclosed. In the four decades since being founded, Rita’s has become…
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Pennsylvania Turnpike Commission Cuts Costs, Helps Environment with New Pollinator Habitats
Thanks to its new program supporting pollinator habitats, Pennsylvania Turnpike Commission is reducing maintenance costs while also benefiting the environment, writes Michelle Wolf for WFMZ 69 News. The largest habitat belonging to the Pennsylvania Turnpike Commission sits on seven and a half acres in the Allentown area. The aim of creating pollinator habitat is to…
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Brumbaugh Wealth Management, MyOfficeOps to Co-Host Webinar on Business Succession and Benefits on Nov. 6
Kim Brumbaugh, founder of Brumbaugh Wealth Management, and Steve Rickel, CEO of MyOfficeOps, will co-host a free webinar on Business Succession and Benefits on Wednesday, Nov. 6 from 12-1 PM. Register here.
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Tina Byles Williams Left City Hall to Build One of Nation’s Largest Black-run Investment Firms
After serving as chief investment officer for Philadelphia’s pension plan, Tina Byles Williams went on to build one of the nation’s largest Black-run investment firms, writes Joseph N. DiStefano for The Philadelphia Inquirer. “I believe in America’s possibility because I live it,” said Byles Williams at the city’s Union League last month. A Harvard graduate…
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Do U.S. Presidential Election Cycles Have an Impact on Financial Markets?
We often get questions from clients regarding the potential impact election cycles have on financial markets, and the 2024 U.S. presidential election cycle is no different. The simple answer is that history shows election cycles alone do not have a significant impact on financial markets. We recommend that clients invest for the long-term given their…
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Investors Open First Federal Donuts and Chicken Radnor Restaurant
Federal Donuts and Chicken has opened its first brick-and-mortar Delaware County location in Radnor, writes Emma Dooling for Philadelphia Business Journal. The 1,250 square-foot space at 232 Radnor Chester Road seats 20 people. It employs about 10 people. The restaurant’s close location to Radnor High School and Villanova University makes it an “ideal fit” for…
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Philadelphia Startup Carbon Reform Receives Investment from Cisco Foundation
Carbon Reform, a Philadelphia startup, has landed an undisclosed investment from the Cisco Foundation that will help the startup’s founders pitch its product to the world stage, writes Ryan Mulligan for PHL Inno. The startup recently won the Philadelphia Regional Startup World Cup Pitch Competition. It beat out 10 other local startups. As a result,…
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Lincoln Financial Is Rebranding, So Eagles Stadium Gets New Look
Lincoln Financial Field’s going to look slightly different at the start of the Philadelphia Eagle’s next season. Radnor-based Lincoln Financial, who has the naming rights to the Eagles stadium, has created a new logo and a refreshed tagline, writes Jeff Blumenthal for Philadelphia Business Journal. The goal is to sharpen the purpose of the 120-year-old…
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If You’re Behind on Saving in Middle Age, There’s Still Time to Increase Your Savings Rate and Map Your Later Years
If you are behind on saving in middle age, many financial advisors believe there is still time to increase your savings rate and map your later years, writes Hannah Miao for The Wall Street Journal. In 2023, the median account balance of workers between 45 and 54 years old in employee-sponsored retirement plans such as…
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Investors Preparing for More Turbulence Following Return of Market Volatility
Following the return of market volatility after roughly 18 months of slumber, investors are preparing for more turbulence over the coming period, writes David Uberti for The Wall Street Journal. Turbulence has mounted for about a month, culminating last week when the S&P 500 logged both its best and worst days since 2022. Traders have…
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Some Investors Turning Their Backs on Target-Date Funds
Some investors are turning their backs on target-date funds, the most popular retirement investment on Wall Street, write Anne Tergesen and Oyin Adedoyin for The Wall Street Journal. Target-date funds are a long-term, professionally managed stock portfolio that recalibrates the mix as we race toward retirement age. According to Vanguard data, these funds currently attract…
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Firstrust Financial Resources a Lifeline for Families with Special Needs Adults Looking to Protect Their Tomorrows
Harvey Mills, a retired flight attendant, doesn’t sugarcoat the impact that Jerel Ruttenberg, a Senior Financial Professional at Firstrust Financial Resources, and FFR Vice President Brian Smith have had on his family. “They saved my life,” he said, “and that’s not an exaggeration.” With an adult daughter who has autism and an intellectual disability, and…
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Take Note of These Changes in Retirement Savings Rules Before End of Year
Being unaware of most of the provisions Congress put into the landmark retirement law over a year and a half ago could prove costly to investors, writes Leonard Sloane for The Wall Street Journal. The provisions cover required minimum distributions, types of accounts that can be used for certain retirement-plan contributions, and a whole lot…
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This 401(k) Rollover Mistake Could Cost You Money
Workers who pull their retirement savings out of the stock market after changing jobs miss out on billions in investment gains, usually without meaning to, writes Anne Tergesen for The Wall Street Journal. When individuals transfer their 401(k) balances from their previous employer’s plan into an individual retirement account, these funds are often held as…
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Tyrese Maxey Among Several Pro Athletes to Invest in $10M Ballers Sports and Social Venue in Fishtown
Ballers is a new social sports venue coming to Fishtown in early 2025, and several professional athletes have signed on as investors, including Philadelphia 76ers All-Star Tyrese Maxey, writes Emma Dooling for the Philadelphia Business Journal. The $10 million venue is a 45,000-square-foot hospitality and sports-focused concept that features racquet sports courts, golf simulators, and…
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Collecting Luxury Spirits as an Investment
Demand for luxury spirits has skyrocketed in the last several years, creating a great investment opportunity that is not just for the wealthy, writes Debbie Carlson for The Wall Street Journal. The Luxury Brand Index created by the Distilled Spirits Council of the United States, which determines demand for high-end spirits, increased by an average…
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Boost Your Tax-Sheltered Roth Accounts Using These Lesser-Known Paths
If you are looking for ways to boost your Roth IRA or Roth 401(k), these lesser-known paths can help you get around the roadblocks, writes Laura Saunders for The Wall Street Journal. These paths are useful for savers who are attempting to move more dollars into their Roth accounts before the end of 2025, when…
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