Financial planners and advisers must convince clients that their plan is more important than the specific products in which they invest, writes Carl Richards, a certified financial planner. “You’re not just picking products. You’re helping people understand where they want to go and the best way to get there,” he…
Professional development of young advisors now will pay dividends far into the future, consultant Christine Gaze writes. Key benefits include additional revenue generated by the entire team and greater peace of mind for clients, Gaze writes. WealthManagement.com (U.S.) (9/17)
York University professor Moshe Milevsky argues that the retirement industry would attract more interest from consumers if they developed tontine-like products and offered them along with annuities. ThinkAdvisor (9/17)
Participants in pension plans struggle to decide whether to accept an offer of a lump-sum distribution, and advisers need to be ready to help, experts say. The prolonged environment of low interest rates is persuading many sponsors of defined-benefit plans to move pension risk off their books through lump-sum distributions….
Insurance agent Brendan Ryan examines a scenario in which a healthy 63-year-old man purchased a 20-year $250,000 term life policy with premiums that would soar in the 21st year. The same amount of permanent insurance would cost twice as much but would include a long-term-care benefit and a stable premium,…
Congress returned to session last week, which means that NAIFA’s advocacy work on behalf of our members and your clients is in full swing,” NAIFA CEO Kevin Mayeux writes. “As I explained in an earlier CEO Blog post, the Department of Labor’s fiduciary rule proposal poses the most immediate threat…
A media strategy is a key part of a more encompassing adviser marketing strategy, Nicole Johnson writes, examining the various types of media at issue: earned, owned and paid. WealthManagement.com (U.S.) (9/15)
Clients who own property or hold assets in more than one state can lead to challenges in estate planning, lawyer Allen Falke writes. Among the issues advisers must consider are differences in estate and inheritance taxes, transfer taxes and ancillary probate, he writes. Financial-Planning.com (9/15
Terminating a trust at death, distributing all assets to beneficiaries, reinvesting within the trust and owning an annuity within the trust can all be ways to reduce internal taxation of trusts, write Kathleen Cassidy and Steve Litner. WealthManagement.com (U.S.) (9/15)
Half of consumers say they would rather do their taxes than have a conversation about life insurance, a Penn Mutual survey indicates. In addition, 41% said they would rather stand in line at the Department of Motor Vehicles, and the same percentage said they would prefer to be called for…
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