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A recent survey by Citizens reveals that a significant portion of Americans, including Millennials and Gen Z, are unprepared to manage the upcoming 'Great Wealth Transfer,' with Baby Boomers set to pass on $84 trillion in assets.
The survey found that 72% of Americans lack the financial confidence to handle large sums of money, and over half of younger generations have received poor financial advice in the past. Notably, 61% of Americans would seek professional financial advice if they received a large inheritance, though this tendency decreases with younger generations.
SMB owners also show a lack of confidence in managing windfalls, with 69% feeling unprepared and many having suffered from poor advice, leading to revenue loss and increased debt. The survey underscores the importance of experienced financial advisors in helping Americans and SMBs navigate significant financial changes.
Citizens Financial Group (NYSE: CFG) has appointed Jim Weiss as the new Florida market president, enhancing its growth in the state. Weiss, who brings over 30 years of banking experience, will focus on expanding Citizens' local presence, leveraging his previous roles at Busey Bank and Fifth Third Bank. Under Weiss's leadership, Citizens aims to strengthen its offerings in Commercial, Wealth, and Retail banking.
The company continues to invest in Florida with 270 colleagues, five retail branches, and two wealth centers. This follows the opening of a Private Bank office in Palm Beach earlier this year. Weiss will collaborate closely with various banking teams to provide comprehensive financial solutions to Florida's residents and businesses.
Citizens Financial Group, one of the largest financial institutions in the U.S., has $220.4 billion in assets as of March 31, 2024. The company offers a wide range of retail and commercial banking products and services, emphasizing client-focused advice and tailored financial solutions.
Citizens Financial Group, Inc. (NYSE: CFG) announced that Chairman and CEO Bruce Van Saun will participate in the Bernstein 40th Annual Strategic Decisions Conference 2024. The event will take place on May 31, 2024, and will be live webcasted. Citizens Financial Group, Inc. is a leading financial institution with $220.4 billion in assets offering a wide range of banking products and services to individuals, businesses, corporations, and institutions.
Citizens Financial Group, Inc. (NYSE: CFG) declared dividends on its preferred stock, with various rates for different series, payable on July 8, 2024. The company, with $220.4 billion in assets, offers a wide range of financial products and services to consumers and businesses. Citizens focuses on tailored solutions, including mobile and online banking, with numerous branches and ATMs across 14 states and D.C. In Commercial Banking, the company provides lending, treasury management, and capital markets services.
Citizens Bank, N.A. announced the redemption of $650 million in senior notes due May 23, 2025. The redemption price will be 100% of the principal amount plus accrued interest up to the Redemption Date. Citizens Financial Group, Inc. has $220.4 billion in assets and offers a wide range of banking products and services to various customers.
The national Citizens Business Conditions Index™ (CBCI) fell to 48.2 in the first quarter as economic momentum slowed due to moderately restrictive monetary policy. Despite softening revenue trends and a decline in new business applications, the U.S. economy remains fairly healthy. Citizens Business Conditions Index™ reveals mixed dynamics in the business environment with some positive signs in the ISM non-manufacturing component and green shoots in manufacturing outlook.
Citizens Financial Group, Inc. (NYSE: CFG) will be represented by Chairman and CEO Bruce Van Saun at the Barclays Americas Select Franchise Conference on May 8, 2024. The live webcast will be accessible on their investor relations website.
