New Spenders

As millenials climb into their highest spending years, financial institutions must go digital to catch their coveted dollars

Ann Thompson, a regional sales executive for Bank of America, knows that the surest route into the hearts and minds of millennials is through their hands — not hand-holding, but talking to them through technology. “They want to be self-served and want things convenient,” Thompson says. “So, we have to reach them through that thing they hold in their hands, a smartphone.”

Mar 29, 2016 Bill Sessa
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The Exodus from Big Banks

Millennials trend toward community banks and credit unions

Much has been made of late about millennials leaving the big banks in favor of smaller community banks or credit unions. According to the Accenture 2015 North American Consumer Digital Banking Survey, community banks saw a 5-percent uptick in millennial customers in 2014. Credit unions saw a 3-percent increase. The big guys, meanwhile, lost a whopping 16 percent of their millennial account holders.

Mar 9, 2016 Rich Ehisen
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Flipping Gift Cards

Through cloud-based software, GiftCardBin turns consumers’ trash to treasure

When it comes to gift-giving, you can’t go wrong with a gift card, right? Well, not exactly. Research shows that more than $1 billion in gift cards go unredeemed. Based in West Sacramento, GiftCardBin has been banking on that stat since 2008, buying and selling gift cards that might otherwise go to waste. (Like the $25 Starbucks card you probably have in your wallet right now.)

Feb 24, 2016 Russell Nichols
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California Debt Foe Campaigns to Block Billion-Dollar Bond Deals

Dino Cortopassi, who lives near Stockton, watched as the California city loaded up on debt for amenities like a waterfront ballpark, only to slash services after the community went bankrupt. So he’s spending $4 million in an effort to give the state’s voters more power to curb bond sales.

Dec 4, 2015 Romy Varghese
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Carrying Student Debt? You May Be In for a Lot of Robo-Calls

In the past, debt collectors could autodial borrowers only on the phone number they provide in their loan agreements. The new rules could allow the companies to repeatedly call any phone number associated with a student loan borrower—including family members’ cell phones or any number once held by the debtor.

Nov 17, 2015 Natalie Kitroeff
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Book Review: The Business of Time, Money and Significance

‘Making Money Is Killing Your Business' asks us to rethink how we define success

Time, money and significance: These are the three desires that every entrepreneur strives for in a business. Unfortunately, most find themselves caught in the never-ending pursuit of money, squelching the essence of true business ownership and personal freedom. As a result, the enterprise never delivers time back for the things we enjoy doing or the opportunity to make a significant impact on the world around us.

Aug 7, 2015 Michael Scott
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Mental Wealth

Financial therapists know: It’s more than just the Benjamins, baby

There’s an old joke from the TV series “Friends”: Ross complains about how he’s torn between two women, so Chandler replies, “This must be so hard. Oh no, two women love me. They’re both gorgeous and sexy. My wallet’s too small for my fifties and my diamond shoes are too tight!” That’s the typical reaction when people hear about wealth psychology…

Mar 24, 2015 Jeff Wilser

Economics for 2015 and Beyond

Acuity with Sanjay Varshney

After a decade at the helm of Sacramento State’s College of Business Administration, Sanjay Varshney in late August accepted a position as a vice president and wealth advisor at Wells Fargo Bank—Wealth Management  Group. Varshney is a professor of finance at Sac State. He is also the  chief economist for the Sacramento Business Review, making him one of the region’s preeminent voices on economics, business and higher education.

Mar 23, 2015 Christine Calvin
Design by Lily Therens; elements from Shutterstock

More Money, More Problems

When to engage a wealth manager

The dramatic transfer of accumulated wealth from the baby boomer generation and regional employment gains could serve as a catalyst for individuals to engage with wealth management experts. Here are some of the most common questions (and answers) about wealth management:

Mar 20, 2015 Barry Brundage

The Next Wave

10 young professionals on our radar for 2015

Momentum is shifting in the Capital Region, and young professionals are leading the charge. General skepticism is being replaced with emerging optimism and a renewed energy that’s providing the catalyst for growth and innovation across our cities.  Here are the top ten young leaders we think you should be watching. They are driving the Capital Region’s evolution, and we anticipate you’ll see them at the forefront in 2015 and decades to come.

Mar 17, 2015 Laurie Lauletta-Boshart