A flat consumer price index means limits for defined-contribution plans will not increase in 2016. The 2015 contribution limit of $18,000, or $24,000 for people 50 and older, will remain in place. BenefitsPro.com (10/16)
A full match for workers’ 401(k) contributions is among the steps companies are taking to encourage increased savings for retirement, an Aon Hewitt survey says. CNNMoney (10/20)
Insurers are facing a time of change and must adapt to offer value and stay profitable, write Matthew O’Mara, Frank Memmo Jr. and Karan Mishra of Ernst & Young. Steps toward that goal include using real-time quoting and underwriting, harnessing predictive analytics and catering to millennials, they write. National Underwriter…
Many Americans are avoiding financial advice because they believe they don’t have enough money to get help from an adviser. A survey by TIAA-CREF found that 63% of Americans who have never received professional guidance on financial matters don’t use advisers because they “don’t have enough money to invest.” Financial…
Most advisers and investors overlook annuities with long-term-care riders and other hybrid policies in addressing clients’ long-term care needs, according to a survey for Lincoln Financial. It also found that less than 10% of advisers have set up LTC plans for clients. ThinkAdvisor (10/20), InvestmentNews (10/20), PlanAdviser.com
Phyllis Borzi, a Labor Department official with a key role in developing the agency’s proposed fiduciary rule, said the department has found many good ideas about how to improve the rule while studying the comments submitted by interested parties. Borzi said the agency’s primary objective is “to simplify and streamline”…
Advisers face some complex headwinds that make it challenging to deliver the highest-quality service and ensure growth. Matt Matrisian writes that practitioners should “embrace four practice management disciplines”: “sustainability, reliability, referability, and profitability.” WealthManagement.com (U.S.) (10/13)
The number of people receiving Medicaid and the program’s spending both increased by 14% in fiscal 2015, according to a report from the Kaiser Family Foundation. USA Today (10/15)
Advisers must persuade clients that their retirement years could last decades with no work income coming in, says Michael Goodman of Wealthstream Advisors. He suggests clients should “think about potentially being unemployed for 35 or more years.” InvestmentNews (10/16)
Matt Oechsli shares how several advisers at a recent event were skeptical about the value of social media. He argues that the need for digital marketing is pressing these days. He believes that “every financial advisor should build out his or her LinkedIn presence — it’s a terrific first step…
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