Behavioral issues can prevent clients and prospects from being entirely honest when explaining their personal situations to advisers. Joel Bruckenstein explains how advisers can use facial-imaging technology to overcome this obstacle. Financial-Planning.com (12/6)
Hillary Clinton, the front-runner for the Democratic presidential nomination, has called on fellow Democrats to prevent Republicans from inserting into a key spending bill language that would block implementation of the US Labor Department’s proposed fiduciary rule. She wrote in an opinion article in The New York Times that Republicans…
The Financial Industry Regulatory Authority’s Rule 3110 requires firms to maintain a system to oversee text messaging activity by advisers. Such messages, however, are hard “to consistently supervise, monitor and archive,” writes Yasmin Zarabi of Hearsay Social. InvestmentNews (12/7)
Fixed indexed annuities offer a variety of interest crediting methods, and the approach chosen can have important consequences, write William Byrnes and Robert Bloink. This choice can “make or break” the strategy, they write. ThinkAdvisor (12/7)
According to research from SEI, 60% of study participants expect to be “cultivating existing client relationships via in-person meetings” in 10 years. Just over 30% expect video conferencing to be the main way they’ll meet with clients. PlanAdviser.com (12/7)
Some major insurers are increasing premiums on in-force universal life policies. Experts say persistently low interest rates have led to the increases, and a possible Federal Reserve rate increase this month is not expected to help much. InvestmentNews (12/7), The Wall Street Journal (tiered subscription model) (12/4)
Advisers can choose from various strategies when claiming the costs of technology investments for tax purposes. “It is better generally, from a tax standpoint, to reduce taxes upfront rather than later on,” said Chris Chen of Insight Financial Strategists. InvestmentNews (12/4)
Only one insurance company, MetLife, has launched a qualified longevity annuity contract specifically for the defined contribution market. All of the others were designed for the retail market, particularly individual retirement accounts. InvestmentNews (12/4)
May-December couples — those with an age difference of 10 years or more — must plan for a large gap in retirement dates, based on the expected longevity of the younger spouse, according to Howard Hook of EKS Associates. He adds that couples should grapple with these issues early in…
The federal tax code allows partial tax-free exchanges of life insurance or annuities to pay for long-term-care insurance, write lawyers E. Hans Lundsten, Joseph Marion III and David Riedel. Such a move can provide tax benefits while helping protect wealth, they write. JDSupra.com/Adler Pollock & Sheehan (12/3)
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