Advisers should reach out to clients, particularly millennials, about long-term-care issues this month, writes Brian Vestergaard of LifeSecure Insurance. Millennials are seeking financial advice, are familiar with LTC challenges and are concerned about the future of Social Security, Vestergaard writes. LifeHealthPro (11/13)
Being able to recognize traits across generations can be a sales tool for advisers, Stephen Boswell and Kevin Nichols write. “Don’t take this as a one-size fits all approach to marketing,” they write. “The idea is to be able to blend the differences and similarities into your approach. It’s still…
An income-replacement ratio of 75% to 85% of pre-retirement income might not be high enough when factoring health care spending into the calculation, HealthView Services says. Health care spending often is higher in retirement, experts say. InvestmentNews (11/12)
Changing interest rates is a big issue for US insurance companies, according to Cerulli Associates. Low interest rates since 2007-2008 “has largely been detrimental to insurers,” said Alexi Maravel of Cerulli. “While higher rates will be beneficial to insurers, we find insurers are also preparing for the how and when…
Entering a hot market, MassMutual has launched the firm’s first investment only variable annuity. IOVAs have emerged as a bright spot in the overall variable annuity market lately. InvestmentNews (11/12)
Shep Hyken notes some sound advice he recently heard, which boils down to: Don’t chase the money. He writes that “if you care more about the money than the customer, you won’t always make the sale. And if you do make the sale, you might not keep the customer long…
Younger workers in particular are skeptical that Social Security benefits will be available to them in retirement. “It’s alarming that such a high percentage of the next generation of retirees has essentially given up hope that they will receive Social Security benefits,” said Griffin Geisler of RBC Wealth Management. PlanAdviser.com…
The revamped Life Underwriter Training Council Fellow designation seems to be winning over many industry participants, who praise its ability to help agencies grow, Cyril Tuohy writes. InsuranceNewsNet online (11/11)
Sheryl Rowling argues that an investment in automation can pay off even for small practices. “Adding a portfolio accounting solution, automated rebalancing software and financial planning software could cost $10,000 to $20,000 per year. It would also eliminate at least half of the adviser’s client work time,” she writes. InvestmentNews…
About half of millennials are flying blind on how much money they will need for retirement, a survey by BNY Mellon says. Almost one-fifth say they have not received any financial-planning information from employers, the survey says. PlanAdviser.com (11/10)
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