A new wave of COVID-19 cases threatens to trip up the economy. Increasing cases in Europe and the United States have brought new restrictions on activities, but the market doesn’t appear to be fazed by the recent outbreaks.
As we head into our first COVID-19 winter, and with a vaccine at least several months away, advisors and clients alike must prepare for increased social distancing and additional reliance on virtual meetings.
Heading into the election, polling data and market signals disagreed on how close the presidential election would be, with market signals calling the race much closer—which turned out to be accurate. Now that we have more clarity on the results of the election, we can review what we believe will be some of the key market implications going forward.
In July, 69% of consumers said they had a greater need for adequate health insurance, while 58% said they had a heightened need for adequate life insurance. This level of concern was almost as high as the 72% of people who were concerned about having enough paper products (tissue, toilet paper and paper towels)!
As shown in the LPL Chart of the Day, since 1952, with surprising regularity, US voters have given each party a second term in the White House to complete its legislative agenda. With equal regularity, they have flipped the party in the White House after eight years, resetting the balance of power in our two-party system.
At some point in their career, a financial advisor is likely going to feel professionally lost. They’ll feel stuck, and most critically, they won’t know how to move forward. These situations can be frustrating and frightening, but with the right balance of acceptance and action, advisors in these situations can get back on track.
Over the course of my career, I have had many opportunities to work and be mentored by amazing women. However, no matter where I worked, what financial planning conferences or networking event I attended, it was clear women are the minority.
Various polls show former Vice President Joe Biden comfortably in the lead in the 2020 presidential race, although in some battleground states the race appears to be quickly tightening. Influential states like Ohio and Pennsylvania may even be a coin toss at this point.
America’s largest banks are steeled for a wave of loan defaults and missed payments that still haven’t arrived. Thanks to an initially immense amount of support from Washington, that pain appears to have been pushed out to next year.
Imagine this: you’re great at your job. You make sales, you manage your clients’ assets well and you’re an attentive advisor who makes sure to follow up. But you can’t get a call back from referrals and your prospects aren’t scheduling appointments. You can’t figure out why.
While a healthy culture can make or break your organization’s success, like any good thing in life, it takes hard work and perseverance. Research shows organizations that intentionally invest their efforts to improve workplace culture and align it with company values are not only more profitable, but also more recognized.
Speculation has been increasing that the November election results may be delayed or disputed, or both. A contested election might affect financial markets in several ways. Also, the news that President Donald Trump has tested positive for COVID-19 may potentially impact markets as well.
The recent correction in the S&P 500 Index’s technology sector presents a unique challenge to markets following a historic stretch of outperformance as technology’s share of the market has ballooned in size.
The SECURE Act is great news for holistic advisors, many of whom are quickly realizing that the act touches nearly all aspects of their clients’ financial lives. The act creates opportunities for retirement accumulation planning, retirement distribution planning, tax management, charitable giving and estate planning.
The insurance industry is in the midst of a paradigm shift. The rise in digitization is bringing a host of technologies that are disrupting the industry, while bringing new efficiencies and expanding business opportunities to everyone in the insurance value chain. It’s also changing the way we do business.
According to the World Health Organization, more than 60% of health outcomes are the result of social determinants of health such as economic strain, food insecurity, housing instability, social isolation and poor health literacy. These social risk factors in people’s lives create significant impacts in their health outcomes, utilization patterns and costs.
Prospecting, obtaining referrals and securing business in financial services require a foundation of trust among multiple parties. You can use just five percent of your time to network with confidence – generating and maintaining likability and trust by elevating your professional presence.
With the COVID-19 news better, the economic recovery remains on track, albeit with some areas of concern. One worth watching is consumer confidence and spending, with signs of weakness. Financial markets continue to show turbulence, as investors process the headlines. Let’s take a look at the details.
As employers look for new ways to contain health care costs, more are looking into reference-based pricing – the model that sets top prices for specific prescriptions, procedures and services. Because this model is still relatively new, your clients (and their employees) may have more questions and require more education than with other plans.
Whether it’s life insurance, annuities, stocks, bonds or any other product, contract or construct, the need for or desire to own the products you sell relies on your client’s perception of the current and future tax implications. And the tax code is a rapidly moving target.
