Leaders of states that expanded Medicaid eligibility under the Affordable Care Act have shown little willingness to roll back the expansion, even where political opposition to the law is strong. The Washington Post (tiered subscription model) (11/6)
The Securities and Exchange Commission has issued a risk alert that says financial advisers will be held accountable for deficient outsourced compliance functions. The SEC said it had found in about 20 examinations of advisory firms that the third-party compliance firm didn’t communicate regularly with advisers’ principals, didn’t have access…
Some financial advisers say they’re eschewing the traditional allocation of 60% stocks and 40% bonds. “Those were not terribly bad rules a generation ago, but they’re now not just outdated but downright dangerous,” said Scott Puritz of Rebalance IRA. USA Today (11/9)
The proportion of US adults who say they are “very” concerned about their financial security in retirement is 42.3%, a Robert Morris University poll indicates. About 20% of those already retired said they had saved sufficiently. PlanAdviser.com (11/9)
What gifts resonate with successful investors, who tend to have everything they need? Sheyna Steiner writes that they enjoy gifts that reflect their passions, and offers some suggestions. U.S. News & World Report (11/13)
Advisers should adjust their services and advice to meet the needs of millennial investors, whose approach to finance is markedly different from their elders, Michael Conway writes. InvestmentNews (11/13)
Many Medicare recipients will be confronted by higher premiums in 2016. Katy Votava, a consultant who works with financial advisers on health care coverage, explains the steps advisers can take to help clients minimize the effect of higher Medicare costs. InvestmentNews (11/13)
A great way to be successful at sales is to win referrals, Joanne Black writes. “It’s time to make referrals the way you sell. Stop the time-wasting, irrelevant, unproductive, frustrating prospecting activities you think you should be doing,” Black writes. LifeHealthPro (11/13)
The best way to build an advisory business is to focus on clients and how to solve their problems, not on trying to sell products, writes Kyle Carlton of Carlton Financial Group. LifeHealthPro (11/13)
Retirement clients are the mainstays at many advisory practices, even though few firms bill themselves as retirement specialists, Practical Perspectives says. Nearly 75% of advisers say such clients account for more than 50% of their client base, the firm says. ThinkAdvisor (11/12)
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