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Merrill Edge® Report Finds Nearly 9 in 10 Americans Believe How They Manage Their Money Would Make Their Parents Proud

Business Wire



Reading Time: 6 minutes

Mind on My Money, Money on My Mind: Report Also Shows Finances Take a
Toll on Mental and Physical Health – Even More so Among Women

NEW YORK–(BUSINESS WIRE)–Bank of America today announced findings from the latest Merrill
Edge® Report
, which reveals people are feeling simultaneously
optimistic and overwhelmed by their finances. Merrill is committed to
empowering clients and helping them plan for the future at every age and
in every stage of their financial lives through a combination of tools,
people and know-how across Merrill
Edge Self-Directed
, Merrill
Guided Investing
, and Merrill Lynch
Wealth Management

The report is a biannual study of more than 1,000 mass affluent1
Americans’ evolving financial concerns and priorities. It found that 85
percent believe how they manage their finances today would make their
parents proud. This may be thanks to savvier spending habits and the
fact that 85 percent of Americans improved their financial lives in
meaningful ways in the last year:

  • Forty-five percent worked at improving their credit score, 43 percent
    worked toward paying off some or all of their credit card debt, and 35
    percent established an emergency fund by setting enough aside to live
    on for three months without an income.
  • Far fewer people are paying only the minimum balance on their credit
    card (17 percent), spending more than half of their paycheck on a
    single purchase (14 percent), or dipping into their retirement savings
    (11 percent).
  • For parents, 81 percent would like to leave an inheritance to their
    children, and many (38 percent) are making sacrifices to their
    lifestyle today to do so, including cutting back on dining out and
    entertainment (31 percent) and reducing their travel and vacations (26
    percent). Others are even delaying retirement (18 percent), taking on
    a second job or working longer hours (15 percent) in order to do so.
  • These positive steps may be leading to a higher level of confidence
    about one’s financial future. Gen Zers and millennials – 44 percent
    and 48 percent – believe they’ll be millionaires one day, and the
    majority of Americans across generations are confident in their
    ability to retire when they want (80 percent), leave money behind for
    their children (80 percent), pay off student loan debt (77 percent),
    and even buy a second or vacation home (57 percent).
  • Many are also putting their money where their mouth is, with 42
    percent willing to spend more at a retailer whose values align with
    their own, and 40 percent would stop buying products from companies
    whose values fundamentally conflict with theirs.
  • And for all this great work, Americans feel they deserve a treat –
    upon reaching a financial goal, 56 percent like to reward themselves,
    including 71 percent of Gen Zers, 66 percent of millennials, 42
    percent of Gen Xers, and 43 percent of baby boomers. The most popular
    rewards across all age groups include material purchases such as
    clothing, shoes or jewelry (48 percent); taking a vacation (48
    percent); eating at a nice restaurant (40 percent); and indulging in
    spa/beauty treatments (24 percent).

Mind, body, and toll
While Americans are becoming more
conscientious about money and mindful of their spending, many report
that their financial life weighs heavily on their minds, affecting both
their mental (59 percent) and physical (56 percent) health – even more
so among today’s younger generations and women of all ages:

  • Gen Z: mental health – 73 percent, physical health – 69 percent
  • Millennials: mental health – 69 percent, physical health – 66 percent
  • Gen X: mental health – 58 percent, physical health – 54 percent
  • Baby boomers: mental health – 40 percent, physical health – 38 percent
  • Women: mental health – 64 percent, physical health – 60 percent
  • Men: mental health – 52 percent, physical health – 51 percent

The study found that 51 percent are worried about their finances over
the next five years, with top concerns including the potential for an
inadequate amount of savings (55 percent), political instability (53
percent), a looming recession (47 percent), and market volatility (45
percent). Another source of worry – debt (39 percent):

  • Excluding their mortgages, 73 percent of respondents are carrying some
    form of debt. The types of debt respondents are dealing with the most
    include credit cards (43 percent), auto loans (36 percent), student
    loans (20 percent), and personal loans (15 percent).
  • Forty-six percent of respondents with debt owe more than $20,000,
    while 18 percent owe $50,000 or more.
  • In order to pay off debt, 68 percent of respondents are putting
    certain activities and milestones on the back burner, including going
    on vacation (43 percent), buying a car (37 percent), buying a home (30
    percent) and having children (19 percent).

“On the bright side, Americans are prioritizing their financial goals,
and taking steps towards improving their futures,” said Aron Levine,
head of Consumer Banking and Investments for Bank of America. “However,
many find managing their money today causes them a great deal of stress.
The key is to find the right balance of short- and long-term planning,
and always to take steps forward without placing a heavy burden on one’s
current financial situation or well-being.”

Hypothetically, if given the choice to never have to manage their
personal finances again, Americans would rather:

  • Give up all social media platforms forever (41 percent).
  • Cut carbs, sugar and/or alcohol from their life (37 percent).
  • Lose access to their smartphone for a month (35 percent).
  • Run into their ex every time they’re out with their current partner
    (25 percent).
  • Move back in with their parents (25 percent).

Help wanted
Perhaps the need to tackle debt and overcome the
stress from their finances are why 55 percent of respondents are
currently turning to professional financial guidance, either in person
or online, and why two-thirds plan to do so in the future. A growing
number are also embracing new technology and financial apps to help save
and manage their money, including consumer banking apps (71 percent),
money transfer apps (65 percent), personal finance apps (63 percent),
and automated investment apps (57 percent).

You can’t take it with you – they hope
Meanwhile, in the
midst of the largest generational wealth transfer in history, many
Americans (39 percent) expect to inherit or already have inherited all
or part of their family’s estate, including cash (68 percent), personal
property (57 percent), real estate (53 percent), and securities (41
percent). In fact, 58 percent of Americans believe their financial
stability and lifestyle would benefit significantly or only be made
possible by an inheritance from their family.

The good news is 92 percent plan to leave money and other assets behind,
mainly to their children (59 percent), spouse/partner (54 percent),
siblings (17 percent), and nonprofit organizations (17 percent).
However, that doesn’t necessarily mean they have a plan in place to do

  • Sixty-four percent of Americans have not consulted with a financial
    professional about their estate planning, including 46 percent of
    seniors and 59 percent of baby boomers.
  • One in three parents favor an early inheritance and would rather
    transfer wealth to their children now, instead of waiting until they
    are gone.

“Creating a long-term financial plan with reasonable, achievable goals
along the way is important,” said David Poole, Consumer Investments
Solutions and Client Services executive at Bank of America. “This can
help Americans find a balance between living the lifestyle they want
now, while working toward major milestones and leaving a legacy for
their children.”

For more in-depth information about the financial behaviors and
priorities of mass affluent Americans, read the entire spring
2019 Merrill Edge Report
. A complementing infographic is available here.

1 Merrill Edge Survey Methodology

Concentrix (an independent market research company) conducted a
nationally representative, panel-sample online survey on behalf of
Merrill Edge April 17-May 9, 2019. The survey consisted of 1,000 mass
affluent respondents throughout the U.S. Respondents in the study were
defined as aged 18 to 23 (Gen Z) with investable assets between $50,000
and $250,000 or those aged 18 to 23 who have investable assets between
$20,000 and $50,000 with an annual income of at least $50,000; or aged
24-plus with investable assets between $50,000 and $250,000. For this
purpose, investable assets consist of the value of all cash, savings,
mutual funds, CDs, IRAs, stocks, bonds and all other types of
investments such as a 401(k), 403(B), and Roth IRA, but excluding
primary home and other real estate investments. We conducted an
oversampling of 300 mass affluents in Atlanta. The margin of error is
+/- 3.1 percent for the national sample and about +/- 5.6 percent for
the oversample market, reported at a 95 percent confidence level.

Bank of America
Bank of America is one of the world’s leading
financial institutions, serving individual consumers, small and
middle-market businesses and large corporations with a full range of
banking, investing, asset management and other financial and risk
management products and services. The company provides unmatched
convenience in the United States, serving approximately 66 million
consumer and small business clients with approximately 4,400 retail
financial centers, including approximately 1,800 lending centers, 2,200
financial centers with a Consumer Investment Financial Solutions
Advisor, and 1,500 business centers; approximately 16,400 ATMs; and
award-winning digital banking with more than 37 million active users,
including over 27 million mobile users. Bank of America is a global
leader in wealth management, corporate and investment banking and
trading across a broad range of asset classes, serving corporations,
governments, institutions and individuals around the world. Bank of
America offers industry-leading support to approximately 3 million small
business owners through a suite of innovative, easy-to-use online
products and services. The company serves clients through operations
across the United States, its territories and approximately 35
countries. Bank of America Corporation stock (NYSE: BAC) is listed on
the New York Stock Exchange.

For more Bank of America news, including dividend announcements and
other important information, visit the Bank
of America newsroom
. Click here to
register for news email alerts.

Merrill, its affiliates, and financial advisors do not provide legal,
tax, or accounting advice. You should consult your legal and/or tax
advisors before making any financial decisions.

Banking products are provided by Bank of America, N.A., and affiliated
banks, Members FDIC and wholly owned subsidiaries of Bank of America

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as
“MLPF&S” or “Merrill”) makes available certain investment products
sponsored, managed, distributed or provided by companies that are
affiliates of Bank of America Corporation (“BofA Corp.”). MLPF&S is a
registered broker-dealer, Member SIPC and a wholly owned subsidiary of
BofA Corp.

Investment products:

Are Not FDIC Insured     Are Not Bank Guaranteed     May Lose Value

© 2019 Bank of America Corporation. All rights reserved.


Reporters May Contact:
Susan Atran, Bank of America, 1.646.743.0791

Matt Card, Bank of America, 1.617.434.1388

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Business Wire

Motorola Solutions to Showcase the Latest in Mission-Critical Innovation at CCW 2019

Business Wire



Reading Time: 2 minutes

Enabling public safety and enterprise organisations to rise to the
challenge with a complete, integrated mission-critical ecosystem

will demonstrate how its advanced, mission-critical
solutions enable public safety and enterprise organisations to overcome
their most complex challenges at Critical
Communications World 2019
(June 18-20, MITEC, Kuala Lumpur,
Malaysia, booth G30).

At CCW 2019, Motorola Solutions will showcase a comprehensive set of
innovations spanning mission-critical communications, command centre
software, video security solutions and managed and support services.

Mission-critical communications are essential to maintaining safety and
security for our communities, from daily operations to extreme events
including disaster recovery. These solutions are essential for the Asia
Pacific region, as evidenced by a United Nations report estimating that
economic losses from natural disasters could reach USD$160
billion annually by 2030
. Organisations also demand new solutions to
augment voice communication with the unprecedented volumes of data and
video available today.

To address this need, Motorola Solutions has brought together a
comprehensive, integrated mission-critical ecosystem of technologies

  • Mission-Critical Communications: including the TLK100
    and LEX
    L11 LTE
    devices that show what is possible over LTE networks and
    the ultra-portable LXN505
    public safety LTE infrastructure system.
  • Command Centre Software: to streamline and simplify daily
    workflows including CommandCentral
    , the world’s only unified, proven, end-to-end public safety
    applications suite.
  • Video Security Solutions: including the latest from Avigilon’s
    video security and analytics portfolio including the H4
    Thermal camera
    with self-learning video analytics.
  • Managed & Support Services: to enable customers to focus on
    their mission while staying ahead of cybersecurity threats.

Having access to the right data enables organisations to make fast and
accurate decisions about where to place their valuable resources, which
work to prioritise and how to prepare for their most challenging
events,” Motorola Solutions corporate vice president, Mike deVente, said.

The mission-critical ecosystem we are demonstrating at CCW draws on our
90 year heritage of innovation and our strong understanding of
customers’ daily operational needs,” he said.

At CCW, commercial customers in the transportation, energy and utilities
segments will also learn how Motorola Solutions’ mission-critical
ecosystem and the innovations in critical communications can be
customised to meet their needs. One recent example of this is Motorola
Solutions’ successful integration work with Siemens to achieve railway
signalling over TETRA networks to European Train Control System (ETCS)
Level 2 standards.

About Motorola Solutions

Motorola Solutions is a global leader in mission-critical
communications. Our technology platforms in communications, command
center software, video security solutions and managed and support
services make cities safer and help communities and businesses thrive.
At Motorola Solutions, we are ushering in a new era in public safety and
security. Learn more at

MOTOROLA, MOTOROLA SOLUTIONS and the Stylized M Logo are trademarks
or registered trademarks of Motorola Trademark Holdings, LLC and are
used under license. All other trademarks are the property of their
respective owners. ©2019 Motorola Solutions, Inc. All rights reserved.


Media Contacts
Damien Batey
Motorola Solutions
Mobile: +61
(0) 428 036 806

Motorola Solutions
Mobile: +65 9755 7025

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Business Wire

Motorola Solutions celebrates 45 years of global innovation in Malaysia

Business Wire



Reading Time: 2 minutes

Mission-critical ecosystem of technologies developed in Penang, taken
to the world

PENANG, Malaysia–(BUSINESS WIRE)–Motorola
 is celebrating 45 years of innovation in Malaysia,
recognising the country’s highly skilled engineering talent and
capability to deliver advanced technologies for customers all over the

Motorola Solutions first established supply chain operations in Penang,
Malaysia in 1974. Today, it develops technologies across its
mission-critical technology ecosystem at the facility.

In 2014 the company opened its ‘Innoplex’ research and development (R&D)
centre in Penang, its largest R&D centre outside of North America.
Equipped with state-of-the-art laboratories and product design and
development capabilities, the centre develops next generation Land
Mobile Radio (LMR), broadband-LTE devices and system solutions for
Motorola Solutions’ customers worldwide.

Leading-edge solutions and services designed and developed in Penang
have been deployed by public safety agencies across the world. This
includes the trusted APX
8000HXE HazLoc radio
 used by fire and rescue teams working in the
presence of chemicals and gases and the WAVE
TLK100 Two-Way Radio
 that enables coverage on nationwide cellular
networks with the ease of two-way radio communication and functionality.

The Innoplex continues to deliver a variety of innovative services
including 24/7 network monitoring, management and guaranteed reliability
for Motorola Solutions’ mission-critical customers.

Malaysia prominent within expanding Asia Pacific talent base

Motorola Solutions’ thriving operations in Malaysia have enabled it to
expand its Penang workforce from 10 software engineers to a team of more
than 1,700 today. These highly-skilled roles include industrial design,
software, electrical, electronics and mechanical engineering.

Penang’s expert teams conduct rigorous compliance testing to meet and
exceed product standards all over the world while continuing the
development of new solutions in partnership with customers.

Motorola Solutions’ rapidly growing software engineering workforce in
Asia Pacific is now approaching 2,000. This includes 160 video analytics
and AI specialists in Vietnam added through the recent acquisition of VaaS and
60 mobile applications developers with Gridstone in

Motorola Solutions continues to evolve its mission-critical ecosystem
of technologies across voice, video security, software and managed
services. Our highly skilled teams in Malaysia play a significant role
in developing these technologies and accelerating their adoption all
over the world,” said John Andersen, deputy managing director of the
Motorola Solutions Penang Operations and Design Centre.

We are proud to have extended our journey to 45 years and look forward
to continuing to take Malaysian innovation to the world,” he said.

Through its charitable arm, the Motorola Solutions Foundation, the
company has provided more than USD $700,000 to support Malaysian
initiatives to advance education and research within STEM-related
fields. This includes the Penang Science Cluster which educates more
than 3,000 students and 300 teachers from 75 schools on design thinking
process, coding and electronics.

About Motorola Solutions

Motorola Solutions is a global leader in mission-critical
communications. Our technology platforms in communications, command
centre software, video security solutions and managed and support
services make cities safer and help communities and businesses thrive.
At Motorola Solutions, we are ushering in a new era in public safety and
security. Learn more at

MOTOROLA, MOTOROLA SOLUTIONS and the Stylized M Logo are trademarks
or registered trademarks of Motorola Trademark Holdings, LLC and are
used under license. All other trademarks are the property of their
respective owners. ©2019 Motorola Solutions, Inc. All rights reserved.


Damien Batey
Motorola Solutions
Mobile: +61 (0) 428 036 806

Michael Lee
Motorola Solutions
Mobile: +65 9755 7025

Continue Reading

Business Wire

Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ra Medical Systems, Inc.

Business Wire



Reading Time: 2 minutes

BENSALEM, Pa.–(BUSINESS WIRE)–$RMED #classaction–Law Offices of Howard G. Smith reminds investors of the upcoming August
9, 2019 
deadline to file a lead plaintiff motion in the class
action filed on behalf of investors who purchased Ra Medical Systems,
Inc. (“Ra Medical” or the “Company”) (NYSE: RMED)
securities pursuant and/or traceable to the registration statement and
prospectus (collectively, the “Registration Statement”) issued in
connection with the Company’s September 2018 initial public offering
(“IPO” or the “Offering”).

Investors suffering losses on their Ra Medical investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email to

In September 2018, Ra Medical completed its initial public offering
(“IPO”), issuing approximately 4.5 million shares of common stock priced
at $17 per share. On March 14, 2019, the Company revealed that its
fourth quarter 2018 financial results had been negatively impacted by
issues related to the hiring and training of qualified sales personnel
and certain production limitations.

On this news, the Company’s share price fell $2.14 per share, nearly
33%, to close at $4.43 per share on March 15, 2019, thereby injuring
investors. Since the IPO, Ra Medical’s stock has traded as low as $3.40
per share, significantly below the $17 offering price.

The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) that the Company’s
evaluation of sales personnel candidates was inadequate; (2) that the
Company’s training program for sales personnel was inadequate; (3) that,
as a result, the Company could not reasonably assure that its newly
hired sales personnel were adequately experienced; (4) that, as a
result, the Company would suffer a shortage of qualified sales
personnel; (5) that the Company’s manufacturing process could not
reasonably support increased catheter production; (6) that, as a result,
the Company would suffer production delays; and (7) that, as a result of
the foregoing, Defendants’ positive statements about the Company’s
business, operations, and prospects were materially misleading and/or
lacked a reasonable basis.

If you purchased shares of Ra Medical during the Class Period you may
move the Court no later than August 9, 2019 to ask the
Court to appoint you as lead plaintiff if you meet certain legal
requirements. To be a member of the class action you need not take any
action at this time; you may retain counsel of your choice or take no
action and remain an absent member of the class action. If you wish
to learn more about this class action, or if you have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Howard G. Smith, Esquire, of Law Offices
of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by
email to,
or visit our website at

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.


Law Offices of Howard G. Smith
Howard G. Smith, Esquire

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