More than 100 US House Republicans signed a letter that gives Labor Secretary Thomas Perez until Oct. 21 to provide an explanation of how the department intends to make “substantial changes” to problems with its proposed fiduciary rule. The letter urges the department to give stakeholders a chance to review…
Almost 9 in 10 retirement savers “want investment options that align with their values,” according to Calvert Investments data. More than 8 in 10 are seeking “socially responsible” investment opportunities. MainStreet.com
Reverse mortgages are a potentially important but often overlooked source of retirement income, writes Jamie Hopkins of the Center for Retirement Income at the American College. “The lack of focus on home equity … is nothing short of a complete failure to properly plan and utilize all available retirement assets,”…
Financial professionals agree that estate planning is important. However, such plans are “also extremely easy to disrupt. When you have so many pieces working in concert, even small missteps can cascade into outsized damage,” writes David Lenok, who discusses some common mistakes. WealthManagement.com (U.S.) (
A healthy couple retiring at age 65 needs to be prepared for $245,000 in health care expenses, a Fidelity study says. Last year’s estimate for such costs was $220,000. Greater life expectancies are a contributor to the rising cost, Fidelity says. PlanAdviser.com
People with cognitive impairments and those with less wealth have a higher likelihood of having a long-term-care insurance policy lapse, the Center for Retirement Research says. InvestmentNews
Using a personal narrative can help an adviser build trust with clients, former NFL player Bo Eason said at NAIFA’s annual meeting. “When you tell your personal story in a one-on-one meeting or seminar, all of a sudden people become connected to you and follow you,” Eason said. National Underwriter…
Advisers working in teams increase revenue and assets under management faster than advisers working alone, according to a report from PriceMetrix. From 2013 to 2015, advisers working together grew revenue at 9.1% a year, compared with 8.3% for advisers working alone, the report said. InvestmentNews
Two financial experts argue that their peers in Generations X and Y need the help of advisers, despite a growing industry bias in the other direction. Michael Kitces and Alan Moore write that the disagreement is driven by a distorted concept of “financial planning” in an industry that’s becoming too…
Coordination between long-term care under Medicaid and acute care under Medicare is handled poorly, says Jesse Slome of the American Association of Long-Term Care Insurance. Other experts, however, are skeptical that shifting LTC coverage to Medicare would improve the system or offer cost efficiency. BankRate.com
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