A conflict is developing among Federal Reserve policymakers over the timing of future interest-rate increases, minutes of the last Federal Open Market Committee meeting show. One group expressed concern about a decline in inflation, while others warned of the dangers of further delaying rate increases.
Advisers are turning to text messaging for client communication, tech managers and suppliers say, noting that texts are preferred by many digitally savvy clients and generally score a higher read rate as email inboxes become cluttered. In response to a directive from the Financial Industry Regulatory Authority that texts must be recorded and stored, tech providers are developing archiving software.
Prospective clients are likely to research potential advisers, writes communications specialist Megan Carpenter, who argues advisers should take care to craft their online presence to send the right message. She suggests a quick test to see if that presence is up to snuff.
Financial firms are putting off changes they had planned to comply with the Labor Department's fiduciary rule now that they are confident enforcement will be postponed a significant period. The extra time is particularly welcomed by broker-dealers, who might have to coordinate with hundreds of asset managers to comply with restrictions on commission.
Republicans' drive to reverse post-crisis financial regulation, particularly capital and liquidity requirements for large institutions, is "dangerous and extremely shortsighted," said Federal Reserve Vice Chairman Stanley Fischer.
The number of US states and cities that have introduced or will introduce auto-enrollment retirement systems for private-sector employees now stands at 31, according to the Georgetown Center for Retirement Initiatives. The trend is in apparent defiance of opposition from Republican members of Congress, who have tried to block such plans.
The Labor Department's proposal to delay full implementation of its fiduciary rule may mean an end to one of its most controversial aspects, the best-interest contract, according to several industry observers. Those opposed to the BIC argue it is overly complicated and would raise liability costs.
An Investment Company Institute and Employee Benefit Research Institute study compared how people in their 20s invested within their 401(k) plans in 2015 with how 20-somethings invested in 1996. While the majority of allocations have gone into equities in both cases, the study showed investor preference has shifted from equity funds and company stocks to balanced funds, including target-date funds.
Principal Financial Group is rolling out a retirement plan design tool for advisers and plan sponsors. The tool enables users to model different plan designs with features such as automatic enrollment, auto-escalation and stretch-match formulas using real client data.
FINAL CALL! Save $200 on the top educational event for advanced financial planners
FPA Annual Conference (FPA)
Get the tools, ideas and strategies you need to take your practice to the next level at the FPA Annual Conference 2017. The event, held Oct. 2-4 in Nashville, TN, will feature top-level content on health care, tax reform, behavioral economics and more. Register by TODAY (Aug. 18) to save $200 on the conference rate. Register Now!
Do you want to get media queries in your inbox? Be a part of FPA MediaSource!
Reporters from around the country are sending out media queries to CFP® professional members of FPA each day. They provide FPA members with a great opportunity to actively engage reporters on the stories they are working on while providing them with an opportunity to build name recognition and awareness! Want to take part? Simply attend the All-Member Virtual Media Training on Sept. 14 at 4 p.m. EDT to take the first step to being part of the system. Register today!
There is only one success ... to be able to spend your life in your own way.
Christopher Morley, journalist and writer
The Financial Planning Association® (FPA®) is the largest membership
organization for CFP® professionals in the U.S. and also includes members who
support the financial planning process. Working in alliance with academic leaders,
legislative and regulatory bodies, financial services firms and consumer
interest organizations, FPA helps connect all in our membership through a
variety of unique and compelling ways. Learn more at