WINDSOR, Conn., May 15, 2017 – A new LIMRA Secure Retirement Institute Study finds 8 in 10 of defined contribution (DC)…
Advisor News
Can the insurance-only agent not only survive but prosper under the Department of Labor fiduciary rule? Our Kim O’Brien says yes. She explains how in the first of a four-part series.
All Eyes on Acosta as DOL Rule Clock Winds Down
Newly sworn-in Secretary Alexander Acosta holds the fate of the Department of Labor fiduciary rule. Will he choose to fight to delay and amend the Obama-crafted rule? Absent a reprieve, the rule begins taking effect June 9.
ALEXANDRIA, Va.– A Leesburg man pleaded guilty today to wire fraud in connection with his misuse of clients funds, some of which were invested through a purported hedge fund called Crescent Ridge Capital Partners. Moumen falsely told investors that he was a successful trader who consistently beat the S&P500 and was overseeing tens of millions of dollars…
The variable annuity, branded as “Lincoln Core Income built with iShares,” offers only passive, low-cost exchange traded funds from asset manager BlackRock.
A Taxing Issue: Explaining Trump’s Tax Implications
President Donald J. Trump’s tax plan looks highly favorable to financial consumers, especially affluent ones. But what will it look like once it emerges from Congress?
Fidelity Investments ® today released its quarterly analysis of its 401 and Individual Retirement Accounts. The average 401 balance hit $95,500, while the average IRA balance climbed to $98,100. People saving in an IRA and a 401 saw significant balance increases. As more retirement savers recognize the benefits of IRAs and 401 accounts, the number of people…
Building trust is the basis for client understanding.
–Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which analyzes the 100 largest U.S. corporate pension plans. Despite strong investment returns of 0.84%, in April the deficit for these pension plans increased from $247 billion to $257 billion, the result of a decrease in the benchmark…
Those in younger age groups are less certain than their elders of their investment knowledge, but those younger investors also were less likely than their elders to have a financial advisor.
Wells Fargo is weighing a sale of its insurance brokerage business, which could fetch about $2 billion, people familiar with the matter said. Wells Fargo spokesman Alan Elias said the bank doesn’t comment on market rumors or conjecture. Wells Fargo, the largest retail bank in the U.S. by branch count, is pursuing the new sale as part of a broader push to boost profit…
RIA M&A Surges 29% In 1Q
The first quarter of 2017 was the most active one ever when it came to mergers and acquisitions among registered investment advisors.
Louisville, KY and Columbus, OH — May 9, 2017 — Jefferson National, operating as Nationwide’s advisory solutions business, has launched a…
As The 4% Rule Wobbles, Are Annuities More Attractive Strategy?
An extended period of low interest rates has put pressure on the 4 percent rule as well, as retirement income portfolios find it difficult to eke out gains without taking on more risk.
Washington, D.C., May 8, 2017 – NAFA, the National Association for Fixed Annuities, released the following statement today from its…
PIERRE| Investors in mutual funds face new requirements in South Dakota, and some lawyers in the securities industry don’t like them. Those lawyers argue that investors could find their money has been moved, without the investors’ knowledge, into the hands of South Dakota’s state treasurer, Rich Sattgast. Specifically, the unclaimed-property division of his…
–Millennials are much more likely to make risky investment decisions compared to other Americans by reacting to short-term market volatility yet they are less likely to rely on professional financial advice, according to new research from Massachusetts Mutual Life Insurance Co.. “MassMutual’s research finds a real’ advice gap’ exists between younger…
More Americans age 65 and over are still punching the clock, and the last time the percentage was this high was when John F. Kennedy was in the White House. Last month, 19 percent of Americans age 65 and over were still working, according to government data released Friday. More than a quarter of workers age 55 or older say they have less than $10,000 in savings and…
In December of 2015, the New Hampshire Bureau of Securities Regulation entered into a Consent Order with LPL Financial, LLC, a broker-dealer based in Boston, Massachusetts, related to the sale of non-traded Real Estate Investment Trusts to New Hampshire residents. Pursuant to this Consent Order, in addition to monetary penalties and other relief, LPL was…
May 04– The Republican-led Senate approved legislation Wednesday to end an Obama administration policy that encouraged state-sponsored retirement savings programs, a move that could undermine a bipartisan effort in Maryland to offer retirement accounts to workers who don’t have them. Maryland is one of five states that will soon allow businesses that…
Merging the roboadvice model with real-world financial advisor analysis gives investors the best bang for the buck, analysts say.
Experiencing a financial shock can wipe out even a client who is prepared for emergencies. Advisors need to help clients get realistic about spending and saving.
WINDSOR, Conn., PRNewswire/ — A new consumer survey by Voya Financial’s Annuities and Individual Life businesses revealed that many Americans…
Annuities are the perfect compliment to Social Security to provide Americans with income that cannot outlive, notes our Kim O’Brien. So why in the Department of Labor trying to squash the products?
BRYN MAWR, Pa., May 2, 2017/ PRNewswire-USNewswire/– Three in four retirement-age Americans fail a quiz on how to make their nest eggs last throughout retirement. These findings are part of the new RICP ® Retirement Income Literacy Survey from The American College of Financial Services– the most comprehensive survey exploring the drawdown phase of Americans’…
WINDSOR, Conn. — A new LIMRA Secure Retirement Institute study finds 43 percent of U.S. pre-retirees (ages 50-75) who work…
Performance analysis is not only crucial in the investment process but increasingly critical for solid client communications, a new report finds.
Retirement Lump Sums Being Depleted Quickly
More than one out of five workers who accepted a lump sum from their employer-sponsored retirement plan have depleted it, a survey found.
_ LPL Financial Holdings Inc. on Thursday reported first-quarter net income of $48.2 million. Four analysts surveyed by Zacks expected $1.01 billion. LPL Financial shares have risen slightly more than 9 percent since the beginning of the year.
April 27– William J. Stromberg, president and CEO of T. Rowe Price Group. Inc., offered a broad defense Wednesday of the asset manager’s focus on active management of investors’ money as individuals join institutions in seeking more passive management that costs less. The comments came during the company’s annual meeting after shareholders quickly approved…
_ Raymond James Financial Inc. on Wednesday reported fiscal second-quarter earnings of $112.8 million. The St Petersburg, Florida- based company said it had earnings of 77 cents per share. Access a Zacks stock report on RJF at https://www.zacks.com/ap/RJF.
That includes Chairman Stephen Sanger, the bank’s independent chairman, who received 56 percent of shareholder votes. The three who got 99 percent were CEO Tim Sloan— who got his job in October after former CEO John Stumpf departed— and two independent directors who started earlier this year. Wells’ nearly three-hour long shareholder meeting was interrupted…
April 25– T. Rowe Price Group Inc. reported a profit of $385.9 million in the first three months of the year, up 27 percent from the January-through-March period last year. Eight analysts polled by Zacks Investment Research estimated earnings of $1.20 a share. T. Rowe Price reported revenue of $1.1 billion, up 12 percent from $994.1 million the same period last year.