NEWS IN BRIEF

Fort Smith adviser named state No. 1

Don McDonald of Merrill Lynch Wealth Management in Fort Smith was named one of the “Top 1,200 Financial Advisors” in the United States and the top financial adviser in Arkansas by Barron’s magazine.

McDonald manages assets totaling $1.6 billion, with the typical account $1 million and the typical net worth $3 million, Barron’s said.

The magazine listed five other Arkansans among the “Top 1,200 Financial Advisors” in the country, including Joseph Small of Ameriprise Financial in Little Rock, Allen Homra of Edward Jones in Stuttgart, Hardy Winburn V of UBS Financial Services in Little Rock, Robby Bader of Merrill Lynch Wealth Management in Rogers and Edward Prewitt of Wells Fargo Advisors in Fayetteville.

Homra manages the smallest typical account among the top six advisers in Arkansas, at $640,000, and works with clients who have the smallest typical net worth, at $750,000.

— David Smith

Wal-Mart expands hiring of veterans

Wal-Mart Stores Inc.is extending its program aimed at hiring U.S. military veterans.

Having reached the goals set as part of its Veterans Welcome Home Commitment, the company expanded its pledge to hire 250,000 eligible veterans by 2020. Wal-Mart originally launched the program on Memorial Day 2013 when it pledged to hire 100,000 veterans by the end of 2018.

Wal-Mart has hired more than 2,604 veterans in Arkansas since Memorial Day 2013. Former military servicemen fill jobs in all 131 facilities Wal-Mart operates in Arkansas, including stores and distribution centers.

Wal-Mart also announced Wednesday that the company and its foundation will commit $20 million through 2019 to support initiatives to help veterans “return to the civilian workforce and their communities.” This follows a similar $20 million initiative that expired this year after launching in 2011.

— Chris Bahn

Index slides 2.34 as 12 stocks drop

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 2.34 to 378.84 Wednesday.

“U.S. stocks ended narrowly mixed on Wednesday after the release of Federal Open Market Committee minutes, which indicated a June rate hike is unlikely,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock.

The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Upcoming Events