Financial advisors should consider the current volatile market climate when considering how often to communicate with clients and err on the side of overcommunicating, writes AssetMark’s Michael Kim. He notes that it’s important for advisors to consistently provide context for market fluctuations and personalize interactions. InvestmentNews (tiered subscription model) (8/6)
A National Association of Insurance Commissioners task force has tabled a request to study creation of a uniform rate-review process for long-term-care insurance after encountering opposition. Birny Birnbaum, executive director of the Center for Economic Justice, calls the proposal “significant misuse of market-conduct authority.” InsuranceNewsNet Magazine online (8/6)
A study from Moll Law Group shows Americans underestimate their need for long-term care, as well as the cost and how soon they might need it. The study also finds 64% of respondents have nothing saved to pay for long-term care. ThinkAdvisor (free registration) (8/6)
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