FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors. The costs of being self-employed (Wall Street Journal) The 15 million Americans who are self-employed find themselves weighing the costs of working for themselves versus the expense of having to go at it alone. The Wall Street Journal suggests self-employed Americans end up paying more in taxes and towards insurance, and must also keep tabs on their retirement. Self-employed Americans have a higher tax bill because the payroll tax isn't split with someone else. It is expensive to get your own insurance plan, but one benefit is premiums are tax deductible. As for retirement, self-employed Americans must have the discipline to take money out of their paychecks and must also keep an emergency fund. Millennials are not saving for retirement (Financial Advisor) A new TIAA-CREF survey shows just 56% of Americans surveyed between the ages of 18 and 34 are planning on Social Security to provide them income during retirement. The survey found that despite millennials seeing the need for money during retirement, only 31% have begun saving. The shortfall in saving is a result of other financial obligations, like student loans, and is likely going to have a significant impact on the amount of money they will have during retirement. Gundlach loaded up on Treasuries and Ginnie Maes (Reuters) Bond guru Jeff Gundlach says he bought "lots of Treasuries and Ginnie Maes" as a play on the debt problems in Greece and Puerto Rico and the volatility in China. "The 30-year Treasury went to a new high yield and no other part of the curve did. This was exactly the opposite of what happened at the low in yields in January," Gundlach noted. According to Reuters, Gundlach's Doubline Capital Management had $73 billion AUM as of the end of the first quarter. Dynasty Financial lands an ex-Deutsche Bank team (Think Advisor) Dynasty Financial has added a team from Intellectus Partners, formerly of Deutsche Bank. The team, which is spearheaded by David J. La Placa and Alex Brown, brings approximately $3 billion of client assets into the fold. “We believe the existing wealth management model focuses too much on what a client has done in the past. We are focused on their future,” La Placa said in a press release. FINRA had a 'strong' 2014 (Wealth Management) FINRA turned a $120 million profit in 2014. Wall Street's self-funded watchdog brought in $997 million in revenue, up 10.7% from the prior year. According to Wealth Management, "Brokerages shared a $20 million rebate for the second consecutive year" with each firm receiving $1,200 in addition to a pro-rated share of their regulatory fees.Join the conversation about this story » NOW WATCH: 6 scientifically proven features men find attractive in women
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