Rapper Jay-Z’s new album, “4:44”, contains a number of valuable pieces of financial wisdom. The hip-hop star turned business mogul is worth $810 million, with ventures in spirits, sports, startups, clothing and, of course, music. The new album features songs like “The Story of O.J.,” in which Jay-Z preaches the importance of investments that build lasting wealth: “I could have bought a place in Dumbo before it was Dumbo for like 2 million. That same building today is worth 25 million. Guess how I’m feeling? Dumbo.” The rapper also emphasizes generational wealth in many of these new tracks. He speaks of his excitement to hand down his growing wealth to his children. One song, “Legacy,” features a recording of his daughter asking, “Daddy, what’s a will?”, and subsequent verses expressing the rapper’s sentiments, “Generational wealth, that’s the key… My parents ain’t have s***, so that ship started with me.”
AssetMark Launches Custom Investment Suite For High-Net-Worth Clients
AssetMark has a new suite of investment solutions for advisors to offer their high-net-worth clients. The “Complete Wealth Management” set covers three primary areas of client need–cash management, wealth services and custom investments. First, Complete Wealth Management provides educational resources to help advisors recommend banking and lending products like checking accounts, securities-based lines of credit, concierge mortgage services and FDIC insurance on cash assets. The suite also provides tools to help investors manage estate planning and develop wealth transfer strategies. Finally, Complete Wealth Management gives advisors access to investment strategies custom targeted to high-net-worth clients.
Health Insurance Advisory Partners with Advisors
In response to the increasingly complex healthcare choices and changing regulatory environment, Bernard Health, a Nashville-based health insurance advisory firm, will now provide its services directly through financial advisors. Advisors who partner with the firm can provide their clients with access to Bernard’s InsureAdvise offering, which helps consumers evaluate health plan options, MediGuidance, which helps clients eligible for Medicare, and COBRACounsel, which helps clients evaluate COBRA versus options. Advisors will also be able to track and audit medical bills and prepare advanced care plans. In a statement, Alex Tolbert, Bernard Health founder, said many financial planners see healthcare as falling within their scope as fiduciaries. “The combination of high costs, a constantly changing regulatory environment, and insurers pulling out of markets is causing worried consumers to turn to financial planners for advice on what to do about healthcare costs,” the firm said.