Cold prospecting on LinkedIn can be effective, but it requires the right approach, write Stephen Boswell and Kevin Nichols. A good strategy is to use commonality to get a connection, establish rapport by natural brand expression and seek to close via a phone conversation, they write. WealthManagement.com (U.S.) (10/22)
Advisers who want to change firms should do so for the right reasons, such as better opportunities, and not because of turmoil in the financial markets, consultant Mindy Diamond writes. WealthManagement.com (U.S.)
The Securities and Exchange Commission is taking a close look at advisers who have obtained from clients usernames and passwords for online accounts that aren’t under the adviser’s management. Advisers who don’t claim custody of the accounts must convince the SEC that they can’t take distributions from them, says Kevin…
Mutual fund distributions could fall below last year’s total thanks to the summer market pullback, Paul Katzeff writes. Investor’s Business Daily (10/21)
Americans 60 and older have substantially lower median retirement savings compared with people ages 55 to 59, the 2015 Wells Fargo Retirement Study says. Many Americans are forgoing retirement investing with an eye toward working longer, the survey says, but nearly half of retirees in the survey said they stopped…
People who were 40 or younger before the end of the tax year can deduct up to $390 for long-term-care insurance premiums, while people who were older than 70 can deduct up to $4,870, according to newly issued IRS instructions. Premiums for qualified LTC plans are deductible by the taxpayer,…
A bill to repeal the Affordable Care Act’s individual mandate for health insurance could reduce federal deficits by $130 billion in a decade, but it also would increase the number of uninsured people from about 26 million to as high as 43 million, the Congressional Budget Office says. National Underwriter…
Many Americans “work part time, switch jobs frequently or earn their livings at small companies,” and they are the most vulnerable to a retirement “crisis,” Carol Hymowitz writes. About half of US workers lacked a company-sponsored retirement plan as of 2013, compared with 39% in 1999, the New School for…
Nearly two-thirds of advisers said income-distribution planning is the top goal of people in their 50s and 60s, and 27% said they commonly recommend annuities, a Saybrus Partners survey says. High costs and the proposed Labor Department fiduciary rule could be among the reasons why, Marlene Satter writes. BenefitsPro.com (10/21)…
Health care planning is a notoriously difficult issue to raise with clients. Carolyn McClanahan of Life Planning Partners offers four questions that can help financial advisers initiate this discussion, starting with, “Have you seen a doctor in the last two years?” WealthManagement.com (U.S.) (10/20)
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