Private health advisory services can be beneficial for clients and advisers, experts say. “Financial advisers will often ask, why should we care? … And the answer is, whether it’s wealth management or not, the financial adviser is very often the one who gets the phone call,” says Deanna Rodriguez of…
Long-term-care insurance tends to be cheaper and have a lower rejection rate for people in their 40s than for older people, experts say. The rejection rate is 14% for people under 50, while it reaches 45% for people in their 70s, says Jesse Slome of the American Association for Long-Term…
November is Long-Term Care Awareness Month — join this month’s Power Session LIVE webinar by NAIFA ClientCast. Learn what you and your clients probably aren’t thinking about when it comes to long-term-care planning, including considerations long before you’ll need LTC, considerations in crisis planning (Title 19), and aid and attendance…
Staff turnover at advisory firms has a financial and a psychological impact on advisers, but clear descriptions and expectations for hires can make turnover less painful, writes Caleb Brown of New Planner Recruiting. Investment Advisor (11/2015)
Employer benefits lobbyists meeting with congressional staffers indicated they are willing to settle for less than a full repeal of the Affordable Care Act’s excise tax on the portion of health insurance costs over a specified amount. A possible compromise would include exempting flexible spending accounts and health savings accounts…
Consumers with the lowest levels of understanding about how health insurance works are the least likely to choose the most appropriate plan for their circumstances, and many consumers have trouble making cost-effective selections, studies have shown. Other factors leading to poor choices include the order in which plans are presented,…
Fear is keeping many Americans from seeking help from a financial adviser, according to a survey conducted by the Harris Poll for financial-planning firm McAdam. More than 70% of respondents said some aspect of dealing with an adviser scares them. The cost of getting advice was the top concern, at…
The proportion of people saying a death had a major or devastating effect on their finances is 69% this year, compared with 63% in 2009, MetLife says. The study cites a decrease in those with life insurance, at 59%, compared with 68% in 2009. National Underwriter Life & Health (11/2)
Using signs and symbols to represent retirement concepts can help clients better grasp the planning process, writes Adam Cufr of Fourth Dimension Financial Group. “Jot down a list of the financial concepts your clients would benefit from understanding. Then, consider how you can teach that concept in a way that…
One possibility to maximize tax savings after inheriting retirement funds is rolling them into an inherited Roth IRA, although the tactic involves complicated rules, Robert Bloink and William Byrnes write. ThinkAdvisor (10/28)
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