Securities America to Pay $3M Over Mutual Fund Switches

Published on December 3, 2025

The firm failed to supervise Class A fund switches, leaving customers with $2 million in fees, FINRA said.

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IRS Issues Trump Account Guidance

December 3, 2025
One takeaway: It appears Roth conversions will be allowed, says planning expert Ben Henry-Moreland.      Related StoriesVanguard to Add TIAA Annuity Option in Employer PlansFidelity Adds Roth Option to Self-Employed 401(k)sRobo-Advisor Wealthfront, Backers Seeking $485M in IPO

Market Valuation: Is the Market Still Overvalued?

December 3, 2025
Here is a summary of the four market valuation indicators we update on a monthly basis.The Crestmont Research P/E ratioThe cyclical P/E ratio using the trailing 10-year earnings as the divisorThe Q ratio, which is the total price of the market divided by its replacement costThe relationship of the S&P composite price to a regression trendline