St James’s Place (SJP) has appointed Adam Higgs to the newly created role of head of protection.

He will help shape SJP’s protection proposition strategy, with a focus on driving innovation, enhancing customer value and managing end-to-end delivery of projects.

Higgs was formerly at Protection Guru, founded by Ian McKenna, joining when it was a start-up and rising to head of product.

He was also head of research – adviser services at the Financial Technology Research Centre (FTRC) and has held previous roles at both Foster Denovo and Scottish Life.

In his new role at SJP, Higgs will help raise the profile of protection within the wider business and support the planning of SJP advisers.

SJP divisional director, development and technical consultancy Tony Müdd said: “We are delighted that Adam has decided to join St James’s Place.

“His reputation within the protection industry is one of unparalleled knowledge from both a provider and distribution perspective, and we look forward to him helping us build upon the foundations we have built over the last few years.”

Higgs added: “I have been a huge admirer of St James’s Place for a long time and followed their protection proposition closely.

“In a short period of time they have built, in my opinion, the best in-house ‘write it or refer it’ proposition in the market. Using these capabilities, SJP has some ambitious growth targets for their protection business.

“I am excited to work with the team and insurers to realise these and make sure that, regardless of whether a partner wants to do it themselves or utilise the planning protection team, every client gets the protection they need.”

TESCO and Primark are some of the high street retailers extending their product return dates this Christmas.

Receiving a gift you don’t like is never ideal and even worse if it means someone is left out of pocket as a result.

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However, plenty of retailers extend their usual return policies over the festive period to allow for this.

Tesco, Primark, John Lewis and B&M are all offering shoppers wider returns windows for Christmas this year.

Bear in mind, refund policies vary depending on where you’ve bought an item from.

Under usual refund policies, where you have a receipt, most retailers will offer you a full refund – on card if that’s how you paid, or by cash.

Where you’ve got a gift receipt, you’ll usually be offered a gift card.

Where returns are made after the goodwill period, but before the Christmas returns period ends, gift cards or exchanges for something else are more common.

Whether you’ve bought items online or in-store can also have an impact on how you’re refunded.

Below, we round up what some of the bigger UK retailers are offering customers this year.

John Lewis

John Lewis said it has extended its usual time window for returns for the festive season.

The posh retailer said any gift bought between September 26 and December 24 can be returned up until January 23, 2025 if it is unwanted.

Shoppers will need to bring a valid receipt with them to get the refund.

Sainsbury’s and Argos

Sainsbury’s and Argos, which is owned by Sainbury’s, is also extending its return window over the Christmas period.

Any items purchased from September 27 to December 25 can be returned right up until the end of January 31, 2025.

New Look

Fashion retailer New Look is offering shoppers an extended returns window on any products bought in-store or online.

Any items bought between October 28 and December 8 can be returned until the end of January 5.

For any sale products bought in-store or online, New Look’s standard 14-day return policy will apply.

Meanwhile, any sale items bought in-store are exchange-only.

This means shoppers can only return an item and replace it with another item.

M&S

M&S has boosted the length of time shoppers can return any unwanted products over the Christmas period.

Any purchases made online or in-store between October 10 and December 24 can be returned up until January 26, 2025.

For any purchases made from December 25 onwards, M&S’ normal refund policy will apply.

M&S said the tweaked Christmas returns policy does not apply to sale items.

Tesco

Tesco is extending its normal 30-day returns policy to any gifts purchased between October 1 and December 24.

Any purchases made between this period can be returned up until January 31, 2025.

The retailer said the extended policy applies to any products bought via Grocery Home Shopping and Marketplace.

Primark

Primark said any items bought between October 15 and January 3, 2025, can be returned up until January 31, 2025.

The retailer said the returns date has been printed on all till receipts as a reminder to shoppers.

From January 3 next year, Primark will go back to its standard 28-day return and exchange policy.

B&M

Bargain discounter B&M said customers buying any Christmas item in-store from November 3 have until January 31, 2025 to return it.

The retailer said proof of purchase, like a receipt, will need to be provided.

Lidl

German discounter Lidl said any non-food products bought from November 4 can be returned up until January 6, 2025.

After January 6, its standard 30-day returns policy will apply.

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After a weekslong rally that saw shares of Trump Media & Technology Group (DJT) roughly triple in value, the stock took an 8% nosedive Tuesday afternoon.

Shares of the company behind former President Donald Trump’s right-wing social media platform Truth Social fell to $26.60 apiece after having been up roughly 10% that morning. Tuesday’s volatility led to the Nasdaq briefly halting trading.

The company’s stock has fluctuated wildly in value in the nearly seven months since it went public under the ticker DJT. Late last month, shares dropped as low as $12.15 each. Since Oct. 1, however, Trump Media shares are up 70%.

This see-sawing comes just weeks before the presidential election, which will see Trump face off against Democratic presidential candidate and Vice President Kamala Harris at the ballot box.

Trump is a majority shareholder of Trump Media, holding roughly 57% of the company’s stock — and he has said he has no plans to let go of his holdings. The stock’s recent rally has added some $2 billion to Trump’s net worth.

Trump Media has been widely considered a “meme stock” or “affinity stock,” with shares trading largely on sentiment about the former president by retail and individual investors, regardless of the company’s actual operating results or prospects.

“It’s purchasing his brand,” John Rekenthaler, vice president of research at Morningstar (MORN), previously told Quartz. He warned that the company’s stock could “go to zero” or close to it if Trump loses the coming election.

Trump Media has said in regulatory filings that its “success depends in part on the popularity of its brand and the reputation and popularity” of Trump and that “adverse reactions to publicity relating to [Trump], or the loss of his services, could adversely affect TMTG’s revenues and results of operations.”

For the latest news, Facebook, Twitter and Instagram.

Shares of memory leader Micron (NASDAQ: MU), Applied Materials (NASDAQ: AMAT), and KLA Corporation (NASDAQ: KLAC) plunged on Tuesday, down 4.3%, 10.9%, and 15.5%, respectively, as of 3:28 p.m. ET.

Semiconductor stocks largely sold off across the board today after equipment leader ASML Holdings (NASDAQ: ASML) accidentally leaked its third-quarter results and outlook, which were supposed to be published tomorrow.

The results and guidance were highly disappointing, sending fears across the sector.

ASML disappoints on a “slower than expected” recovery

In the leaked press release, ASML showed 11.2% revenue growth and 9.1% earnings-per-share (EPS) growth, which aren’t terrible growth figures by any means, with the top line exceeding the company’s guidance last quarter.

However, the bookings figure and outlook for 2025, also contained in the press release, were more worrisome. Net bookings, which reflect revenue plus or minus the change in orders in backlog, were only 2.6 billion euros (~$2.8 billion), far below expectations of 5.39 billion euros (~$5.87 billion).

Moreover, management gave preliminary revenue guidance for 2025 of between 30 billion and 35 billion euros (~$33 billion to $38 billion). While that still portends mid-teens growth above expected 2024 figures of 28 billion euros (~$30 billion), it was below the 36.3 billion euros (~$39.5 billion) analysts were expecting.

Management noted in the press release:

ASML is likely referring to Intel, which has seen lower near-term demand, and Samsung, which has been beset by operational issues and is pushing out its fab expansions. ASML management also noted limited capacity additions for DRAM memory suppliers, as most are converting unused equipment for non-artificial intelligence (AI) memory to production lines for HBM and DDR-5 for AI.

The semiconductor capital equipment sector is very linked. So, if a large fab is pushed out, not only will ASML see slower growth, but so will the etch and deposition equipment supplied by Applied Materials and the metrology and inspection equipment provided by KLA Corporation along with it. Thus, it’s no surprise to see each of those stocks sell off to ASML today by a similar amount.

Micron is also down, given that ASML indicated softer end-demand across non-AI markets. However, it may also be positive for Micron that memory rivals are scaling back their investments in memory capacity. Unlike that of advanced logic chips, memory pricing can fluctuate a lot based on supply and demand. So, the discipline to pull back investments could be a good thing for memory pricing. That’s likely why Micron’s stock is holding up better than the others.

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The sell-off may be a good opportunity

This sell-off may be an opportunity for chip investors since the recovery in non-AI markets is very likely to happen at some point, even if a full recovery doesn’t happen as fast as some forecast. After all, the midpoint of ASML’s guidance still points to 16% growth next year. And pushing fab buildouts from 2025 to 2026 should entail more sustained growth beyond 2025.

It seems that 2024 corporate budgets may have been dominated by expensive AI spending, crowding out refreshes of non-AI servers and PCs. However, this aging equipment will have to be refreshed eventually, especially since Windows 10 support will be phased out in October 2025. Furthermore, as more AI-enabled devices come to market, that should be a boon for chip content across all devices in PCs, smartphones, and auto markets that are still lagging today.

So, for those investors with a long-term view, this sell-off based on the medium-term outlook may be an opportunity to pick up high-quality semiconductor names, such as these three, for the long haul.

Don’t miss this second chance at a potentially lucrative opportunity

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*Stock Advisor returns as of October 14, 2024

Billy Duberstein and/or his clients have positions in ASML, Applied Materials, Intel, KLA, and Micron Technology. The Motley Fool has positions in and recommends ASML and Applied Materials. The Motley Fool recommends Intel and recommends the following options: short November 2024 $24 calls on Intel. The Motley Fool has a disclosure policy.

Why Semiconductor Stocks Micron, Applied Materials, and KLA Corporation Plunged Today was originally published by The Motley Fool

When you hear “$4 million,” does it sound like a dream retirement nest egg or an actual goal? If you’re thinking, “Yeah, right!” you’re not alone.

Most people are curious about how they compare to others in terms of savings, but few can fathom hitting such a high target. So, how many people have $4 million saved? And more importantly, do you need that much to retire comfortably? According to a study, many people believe you need even more than this for retirement!

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The $4 Million Reality

According to data based on estimates from the Federal Reserve, having a net worth of $4 million places you in the top 3% of American households. That’s an elite group, for sure.

Leigh Baldwin & Co. Advisory Services reports about 4,473,836 U.S. households have amassed $4 million or more in wealth. This figure represents roughly 3.44% of all households in the country.

While this is a slim percentage, a recent survey from New York Life found that today’s workers believe they would need an average of $4.3 million to retire comfortably. The idea of having millions tucked away for your golden years might sound ideal, but the reality for most people is quite different.

See Also: Can you guess how many retire with a $5,000,000 nest egg? – How does it compare to the average?

Where Do Americans Stand?

Let’s get real: most Americans are nowhere near that kind of savings. Having $1 million in tax-advantaged retirement accounts could put you in the top 3.2% of retirement savers, but most people find themselves far behind this mark.

According to the Federal Reserve Survey of Consumer Finances, Americans’ average retirement savings is $334,000, while the median – a more accurate picture – is just $86,900. Although people may feel they need millions to retire, they aren’t actually saving millions.

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The question of how much you need to retire comfortably pops up for savers again and again. In a Forbes article, Michelle Richter-Gordon, co-founder of Annuity Research and Consulting in New York City, explained, “People don’t know how much they need at all. They also don’t know when they will retire.”

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The problem is compounded by many people relying on online retirement calculators to figure out their savings needs. While these tools can be helpful, they often overestimate the amount of money required, leaving people feeling overwhelmed or discouraged.

Some of these calculators are provided by investment firms, which may want to boost your contributions to grow their revenues. It’s no wonder that retirement feels like an uphill battle for many.

See Also: Boomers and Gen Z agree they need a salary of around $125,000 a year to be happy, but Millennials say they need how much?

What Do You Need for Retirement?

It’s important to consider your retirement goals. The amount you need depends on various factors, such as where you plan to live, lifestyle choices and health care costs.

Many experts suggest that aiming for around $1 million to $2 million in retirement savings may be more realistic for most Americans, especially when factoring in Social Security benefits and other sources of income.

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Even if saving millions of dollars seems like a distant dream, losing hope is unnecessary. Start by setting achievable goals, saving consistently and monitoring your long-term financial health. The road to retirement doesn’t have to be intimidating. Ultimately, it’s about making smart financial choices that allow you to live comfortably, not just chasing big numbers.

It’s always a good idea to consult with a financial advisor to ensure you’re on track to retire where you want, without the pressure of hitting some magic number.

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This article Can You Guess What Percent Of People Have $4 Million? Here’s A Look At How Many Reach This Major Wealth Milestone originally appeared on Benzinga.com

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