A client who has a social relationship with a financial adviser is more likely to recommend that adviser to others compared with a client who has a business-only adviser relationship, write Stephen Boswell and Kevin Nichols of The Oechsli Institute. Advisers can use a metric to determine how likely a…
In a survey of financial advisers and investors conducted by Jefferson National, 86% of respondents said customer experience will become increasingly important for attracting and retaining new clients. According to Nationwide's Mitchell Caplan, "[P]utting the client first is not just a regulatory requirement, it's a business necessity that is increasing…
Entrepreneurs face special challenges when it comes to saving for retirement, and it's even more difficult for women, who tend to live longer than men, writes JoycePayne Partners' Marilee Falco. She offers five retirement strategies for women entrepreneurs, including a firm commitment to saving even when times are tough. Entrepreneur…
Chris Conklin explains that fixed annuities offer advisers' clients greater safety than bonds, particularly in times of rising interest rates, while delivering returns similar to those offered by bond funds. Fixed annuities are safer because "both a client's original premium and any credited interest are contractually guaranteed to be protected…
Michael Kitces reviews the tax laws and rules applicable to the deductibility of long-term-care insurance premiums and offers some strategies to maximize taxpayer benefits. Financial Planning online
Few people who are retired or approaching retirement are getting income plans from financial professionals, research from the LIMRA Secure Retirement Institute found. Only 38% of pre-retirees and 35% of retirees have a formal, written retirement-income plan, according to LIMRA. InvestmentNews (tiered subscription model)
The Labor Department is likely to further postpone full enforcement of its new fiduciary rule, but that doesn't mean the agency will drop it entirely, members of a panel convened by The American College of Financial Services agreed. When the Labor Department finishes its review, it could revise its prohibited…
Sales of new universal life insurance policies with long-term-care riders represent an estimated 24% of all universal life premiums in the first three quarters of 2016, a Milliman report says. That figure is up from 22.3% in 2015 and 16.4% in 2013, according to Milliman. ThinkAdvisor (free registration)
A survey of small-business owners shows 62% feel confident they are making adequate provisions for retirement but also reveals that 47% are saving less than a 10th of their income and 25% are saving nothing. The survey also showed the number of respondents who have more than $100,000 saved for…
The Securities and Exchange Commission must bring "clarity and consistency" to the fiduciary duty of financial professionals, said Chairman Jay Clayton. He said he wants to work with the Labor Department to create protections that don't deprive Main Street investors of "affordable investment advice or products." Read Clayton's speech. ThinkAdvisor…
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