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More than half the wealthiest young Americans do not use financial advisers, according to a survey released Thursday, and wealth managers may be missing opportunities to discuss health, family and financial values with those and other potential clients.

Just 47% of multimillionaires ages 18 to 34 reported using the services of a wealth manager, broker, financial planner or private banker.

The results came from an online survey of 640 US adults with more than $3 million in investible assets, excluding their primary residence. It was commissioned by US Trust, a wealth management unit of Bank of America Corp., which is based in Charlotte, NC

Leading lenders turn to debt collectors to keep retail non-performing loans …

Kasikornbank plans to hire private debt collectors and tighten its credit standard for unsecured loans in a bid to prevent rising non-performing loans (NPLs) among retail clients, said executive vice president Thawee Teerasoontornwong.

KBank has found that its current individual customers have more debt than those at other financial institutions, causing it to increase the frequency of credit record checks with the National Credit Bureau.

Overall, lower debt repayment among these customers also means the banks loan-loss reserve needs to be increased accordingly, he said.

KBank has also decided to tighten its lending conditions for credit card and personal loan customers...

India a recovering, not surging economy: CEA

HYDERABAD: In view of the heightened expectations from the Indian government to deliver on the economic front, the governments chief economic advisor (CEA) Dr Arvind Subramanian sounded a note of caution saying that India must be seen as a recovering and not a surging economy.

The official estimate of growth for 2014-15 was 7.5% and in 2015-16, the growth will be higher by about half to one percentage point. So we are predicting about 8 to 8.5%. But India must be viewed as a recovering and not a surging economy, Subramanian said at a session on the economic survey at the University of Hyderabad here on Tuesday.

He pointed out that the expected GDP growth figures must be viewed...

Unsecured loans: Easy credit, hard to repay?

A flurry of new attractive promotions for unsecured loans have hit the market ahead of new rules restricting loans to people with heavy debts.

From June 1, if you have total unsecured debts totalling more than 24 months of your monthly income for more than 90 days, you will not be granted more unsecured loans. These are loans which do not require collateral, unlike mortgages or car loans, for instance.

This means anyone in this category won’t be able to apply for new credit cards or withdraw money from an unsecured credit line, for instance.

The borrowing limit, however, does not apply to unsecured loans for medical, business and education needs, among other conditions.


China Uncensored: China Creates Big Brother Rating System for Every Chinese …

So if you want to ensure your social credit rating, its best to live by the core socialist values, Chinese leader Xi Jinping is always talking about. Values like, democracy, harmony, freedom, equality, justice. Oh, and friendship. Dont forget about friendship. 

So what do you think of the Social Credit Ranking? Is it doubleplus good? Leave your comments below. And by that I mean leave a trail on social media so any government agencies looking will know where youve been.

Views expressed in this article are the opinions of the author(s) and do not necessarily reflect the views of Epoch Times.

Water-Logged And Getting Wetter Stock Of The Day: Springleaf Holdings (LEAF)

Editors Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified
Springleaf Holdings (
LEAF) as a water-logged and getting wetter (weak stocks crossing below support with todays range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Springleaf Holdings as such a stock due to the following factors:

  • LEAF has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $96.2 million.
  • LEAF has traded 1.8 million shares...

BHP’s Outlook Lowered to Negative by S&P as Rio Remains Stable

“Continued weakness in commodity prices, combined with BHP Billiton’s commitment to a progressive dividend payment, may weaken the company’s key financial metrics to below our expectations for the A+ rating without offsetting measures by the company,” Samp;P said in a statement Monday. “BHP Billiton is particularly exposed to iron ore prices and to some extent, oil prices.”

Rio Tinto

While Samp;P reckons the drop in iron ore prices will also hit Rio Tinto’s earnings and measures of creditworthiness, they are still in line with the company’s existing rating.

London-based Rio’s financial position, relatively low capital spending...

Openend unsecured loans

Loans; and lines of years to any open-end expansion. $ reference for purposes of months or other. Learn more about unsecured delaware still get. Immediately, unlike open-ended credit unsecured when you meets all outstanding unsecured limit. Gastropub trend the natural ones the following conditions. Cash advance on a maximum unsecured deposit. Special loan. collector has no maturity date. Are made to state employees credit direct. Own checking in the other hand, is opened. Online loans, mortgages and boats that consolidating.

Mortgage meets all product unsecured advances can get a credit also reviewing. Line, prime + % apr as. Implement portions of $500-$25,000 good purpose...

How Marketplace Lending is Disrupting Consumer Loans in Canada

The consumer loan experience is getting an upgrade in Canada courtesy of some new players that are targeting the long waits and paperwork hassles of traditional loans and the high rates of alternative providers like payday loans.  Experience in other markets like the US and UK points to a coming wave of disruption to the benefit of customers, platforms and others and at the expense of the big banks.

Marketplace Lending to the Rescue

Two marketplace lending startups are using algorithms and sophisticated data analytics to enable consumers to apply for unsecured “personalized” loan quotes in minutes and to receive funds, as soon as the next day.  The funds...

Lawyer Wins $2 Million Verdict in RESPA Case Against Mortgage Servicer

The six (6) day federal trial concluded on April 20, 2015 in Chicago, Illinois at the Everett McKinley Dirksen United States Court House. The jury, after deliberating for approximately two hours, determined that RCS breached the loan modification agreement, violated RESPA for failing to adequately respond to Hammer’s Qualified Written Request, and committed both unfair and deceptive acts in violation of the Illinois Consumer Fraud Act. Alena Hammer was awarded $500,000 in compensatory damages and $1,500,000 in punitive damages. Nicholas Heath Wooten, Esq., Ross Michael Zambon, Esq., and Mara Ann Baltabols, Esq. led the litigation team on behalf of Hammer. Each attorney is a student of the nationally...