Heard on the Street – here’s what we were reading last week:
Wealth-Management Firms Battle Over Millennials: Millennials are expected to have more than $11 trillion in financial assets in the next 12 years. Fintech startups have a head start with a generation comfortable with digital. But the traditional firms are fighting back.
Retire? These Graying ‘Encore Entrepreneurs’ Are Just Starting Up: A growing number of New Yorkers are starting businesses in their 50s and 60s, even as their colleagues are easing into retirement. These “encore entrepreneurs” are increasingly finding their niche: Their numbers are growing more than twice as fast as the population of New Yorkers over 50.
FINNOVATION Lab Names Inaugural FINNOVATION Fellows: FINNOVATION Lab, a partnership between Impact Hub MSP and Finnegan’s in Minneapolis, announced the launch of the first cohort of the FINNOVATION Fellowship, which will provide a living stipend, healthcare, mentorship, classes, and space to social entrepreneurs.
Will NYC Finally Do Something about All Its Vacant Storefronts?: Some 20 percent of storefronts are vacant in New York City, up from 7 percent in 2016. And now, finally, New York City Council is moving forward with a provision that may help address the spike in commercial vacancy.