Study: Many independent advisers lack succession plan Most independent financial advisers don’t have a succession plan and allow their practice to deteriorate through attrition when they are ready to leave, according to research from Fidelity Investments and FP Transitions. Selling a practice to an outsider can be successful, but transferring…
Regulations must treat banks and insurers differently, NAIC head says Banks and insurers have different obligations and should have different rules when it comes to capital requirements, National Association of Insurance Commissioners CEO Ben Nelson said at the Standard & Poor’s insurance conference. ” ‘More capital’ always sounds like it’s good….
Advisers are on the front line of longevity boom People are living longer, making financial-advisory services more necessary than ever. “This need has been created within the last generation, due to miracles of science increasing longevity and [the fact of having more] women in the workplace and more money to…
How clients really define risk Most academics and financial-services professionals define risk as “volatility or unpredictability of returns,” notes Richard Bernstein. But just about everyone else defines risk “not as volatility, but rather as the probability of losing money.” The distinction can be important. WealthManagement.com (U.S.) (6/2)
Former Conn. insurance regulator to serve as a Fed senior adviser The Federal Reserve has appointed former Connecticut Insurance Commissioner Tom Sullivan as its senior insurance adviser. Sullivan, who will take his post Monday, will act a representative for the Fed at insurance forums in the U.S. and abroad. PropertyCasualty360…
2014 Congressional Conference: NAIFA members visit Capitol Hill NAIFA members from all 50 states held meetings Wednesday on Capitol Hill with their senators and representatives. They explained to their elected officials the importance of the current tax treatment of life insurance and annuities to their clients and the U.S. economy….
Exec calls on advisers to oppose DOL fiduciary proposal Scott Curtis, president of Raymond James Financial Services, has called on advisers to join a grassroots campaign against the U.S. Labor Department’s fiduciary proposal. Market participants say the department’s move could limit access to financial advice. “We don’t think this is…
Top compliance challenges facing the advisory industry What’s keeping compliance executives up at night? Megan Leonhardt looks at the five most pressing issues facing financial-advisory firms, starting with a heavy volume of regulations and ending with social media concerns. WealthManagement.com (U.S.) (5/20)
NAIFA is working to get national broker-licensing clearinghouse established Creation of the National Association of Registered Agents and Brokers is one of NAIFA’s top legislative priorities, and NAIFA members this week met with lawmakers regarding the NARAB II bill. The measure aims to create a federal clearinghouse for brokers to…
NAIFA members enjoy award-winning products and exceptional discounts from Lenovo Lenovo is now offering NAIFA members savings on its suite of laptops, tablets, laptops and accessories. Act now and enjoy the latest in computing technology, plus save up to 25% during April. Free shipping on Web orders is included. Ends…
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