One-fifth of millennials are providing financial support to their parents, possibly because those parents aren’t preparing well for retirement, a TD Ameritrade survey says. If baby boomers are “tapping that generation for financial support, a generation just entering the workforce, that tells me we are seeing elements of the retirement…
Life insurance can be a multi-use tool for business owners and executives, such as to insure a business owner or key executives, help with continuity planning and serve as part of a compensation plan to attract talent, experts say. National Underwriter Life & Health
Financial advisers are telling clients not to let their fear over the extreme volatility in the equity markets lead them to make decisions they could regret later. Some advisers are recommending that retirees and people nearing retirement look at the downturn as a buying opportunity and start putting some money…
The Financial Industry Regulatory Authority is scrutinizing conflicts of interest that might be created by the way companies compensate brokers. FINRA is examining issues including compensation from product sponsors, promotion of specific products, mutual fund fees and recruiting bonuses. “The intent of this review is to continue our assessment of…
A majority of millennials are interested in fixed indexed annuities, a study by the Indexed Annuity Leadership Council found. Millennials “understand they need a more balanced portfolio given doubts about Social Security and pensions,” said Jim Poolman, the group’s executive director. Forbes (8/20)
Younger workers see private plans such as 401(k)s as their top source of retirement income, while older workers expect to rely more on Social Security, the Transamerica Center for Retirement Studies says. A larger portion of younger workers also expect to work in retirement, the report says. ThinkAdvisor (8/20)
Advisers should undertake life insurance reviews with their clients at least every couple of years to discuss such issues as coverage adequacy, performance and beneficiaries, Rich White writes. BenefitsPro.com (8/20)
Many people aren’t sure when they should start using a financial adviser, but advisers can remedy that by talking to clients and their adult children to take confusion and ambiguity out of the process, Matt Oechsli writes. WealthManagement.com (U.S.) (8/19)
The Brookings Institution’s Robert Litan and Progressive Policy Institute’s Hal Singer write that “the impact of new rules being pushed by the Department of Labor to hold all types of financial advisers and brokers to a ‘fiduciary’ standard” will make the government “the de facto investment adviser” for millions of…
The Labor Department’s proposed fiduciary rule for financial professionals who give retirement advice would make it more expensive for low-income Americans to obtain guidance, according to the National Black Chamber of Commerce. The department should take another look at the economic impact and rewrite the proposal, chamber President and CEO…
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