Regulators are considering exempting insurers with small, closed blocks of long-term care insurance from asset-adequacy analysis requirements, according to conference call minutes from a National Association of Insurance Commissioners meeting. LifeHealthPro (8/30)
Financial adviser Greg De Jong offers advice on succession, discussing the merger of his multimillion-dollar practice with another firm. Extraction of equity is important, De Jong says, but "No. 2 behind my most important goal: the long-term well-being of my clients." Financial-Planning.com (8/29)
NAIFA, in conjunction with subject-matter expert Don Trone, has developed a new NAIFA Skill Builders four-hour workshop to help you understand and comply with the new Labor Department fiduciary rule while serving the best interests of your clients. Learn how to apply best practices using 10 Fiduciary Dimensions and a Steward Attributes…
Pension-law lawyer Marcia Wagner warns advisers that they should pay attention to provisions of the US Labor Department's fiduciary rule that they might not have heard about. For example, providing advice once can make an adviser a fiduciary, even if it doesn't result in an investment, she explains. ThinkAdvisor (8/26)
If confronted by a prolonged recession, the Federal Reserve may increase its inflation target and buy a broader range of assets than it has targeted in the past, Chair Janet Yellen said. "Future policymakers might choose to consider some … tools that have been employed by other central banks, though…
Putting a pension lump-sum distribution into an annuity in some cases gives retirees options not available under the pension plan, write William Byrnes and Robert Bloink. "As most clients know, today's annuity options are incredibly varied so that the client will be able to accomplish a variety of goals, rather…
Most Americans saving for retirement aren't familiar with the various types of individual retirement accounts or the companies that provide them, a TIAA survey found. Fifty-six percent of respondents said they don't know of any differences between IRAs. BenefitsPro.com (8/18)
The problems a life insurance policy can solve include lack of liquidity at death, high transfer costs, and a shortfall of cash for expenses when a person dies or experiences a major life event, this book excerpt notes. LifeHealthPro (8/22)
Holding an annuity within an individual retirement account offers important advantages for clients who want to simplify their required minimum distributions, write William Byrnes and Robert Bloink. "Because a separate set of rules governs each individual type of annuity that may be held within an IRA for RMD purposes, it…
Financial planner John Pak said that he wants clients to understand how important it is to maximize lifetime income sources such as income annuities, Social Security and pensions. "Another important step is to figure out how much income you'll need in retirement to satisfy expenses and what sources of income,…
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