If you know baseball, then you know a winning strategy is scoring runs early in the game. Likewise, submitting business soon after joining Brokers Central is a winning strategy for new producers. And, getting a strong start early in the year is crucial for all brokers. Rewarding producers is central…
Advisors should assess clients' financial goals and determine where they are in meeting them, instead of offering a suite of investments, writes Carl Richards, director of investor education for the BAM Alliance. Only after clients' needs are known is it appropriate to suggest investments, he writes. InvestmentNews (7/21)
Making the right impression during an introduction is important for establishing credibility among clients, says practice management expert Matt Oechsli. He offers three tips for mastering a first introduction. WealthManagement.com (U.S.) (7/20)
What is the biggest threat to a secure retirement plan? The escalating costs of health care and long-term care expenses. The most recent estimates from Fidelity predict that a couple retiring today, at age 65, will spend $245,000, in today’s dollars, to cover medical expenses throughout retirement. That does not…
Traders are pricing in a greater likelihood of an interest-rate increase this year from the Federal Reserve because industrial production and retail sales are indicating stronger growth in the US economy. Traders saw a 15% chance of a rate hike after the Brexit vote, but that has risen to 44%….
Financial advisers should re-examine clients' life insurance policies to determine whether the coverage is adequate and appropriate, says Palmer Williams of Saybrus Partners. Advisers should subject policies to stress tests and consider whether a different policy might be a better fit, he says. LifeHealthPro (7/16)
Most financial advisers are advising clients to keep investments steady after the Brexit vote, but some advisers say the event may be a signal to re-evaluate asset allocations, a Financial Planning survey found. Some advisers see Brexit as foreshadowing a move away from globalization, which could hurt the US, the…
While 93% of Americans say they think positively about living longer, 70% say they feel financially unready for the prospect, an Allianz Life study found. The concern is even bigger among younger people, with 79% of Generation Xers and 74% of millennials unsure they are financially prepared for a longer…
Global market volatility is increasing the cost of guaranteeing future income through the purchase of a deferred income annuity, according to retirement income indexes managed by BlackRock. The cost of guaranteeing a specified amount of income has risen almost 10% since the UK's Brexit vote, BlackRock said. PlanSponsor.com (7/11)
Bonnie Burns of California Health Advocates told a National Association of Insurance Commissioners subgroup that long-term-care insurers should tailor some products to protect low-income people from financial ruin. Burns' suggestions include partnering with Medicaid to help low-income people keep long-term-care policies, offering premium subsidies and streamlining the claims process. LifeHealthPro…
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