Markets await Fed's 2018 rate guidance | How advisers can thrive in the digital world | Ways to minimize taxes on 401(k) and IRA savings
December 12, 2017
FPA SmartBrief
A digest of news and industry updates for the financial planning community
Top Story
Markets await Fed's 2018 rate guidance
Markets await Fed's 2018 rate guidance
Powell (Alex Wong/Getty Images)
The Federal Reserve is widely expected to increase interest rates this week, making any forward guidance for 2018 more critical than the increase itself. Jerome Powell, who has been nominated chairman, has said the economy has space to run before heating up, indicating he would lead the Fed in a more dovish direction.
Reuters (12/11),  Business Insider (12/11),  Financial Times (tiered subscription model) (12/10) 
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Practice Management
How advisers can thrive in the digital world
The fact that the world is turning digital is increasing people's desire for human interaction, writes Matthew Bryan of Guardian Life. He suggests ways advisers can use digital innovations to build rapport and emotionally connect with existing and potential clients.
WealthManagement (12/6) 
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Ways to minimize taxes on 401(k) and IRA savings
People whose savings are mostly in 401(k) or individual retirement accounts often overlook the taxes they will ultimately have to pay on investment earnings from them, investment professional Jerry Golden writes. He outlines the tax considerations and suggests ways in which after-tax income can be maximized.
Kiplinger online (12/7) 
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Policy Watch
Michael to head SEC complex-instruments unit
Daniel Michael has been selected chief of the Enforcement Division's Complex Financial Instruments Unit at the Securities and Exchange Commission. He has been an assistant director in the SEC's New York office since 2014.
ThinkAdvisor (free registration) (12/8) 
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GOP tax bill could hurt N.Y. financial industry, execs say
Republican tax legislation could damage New York's financial industry by prompting bank executives and fund managers to leave the state, Wall Street executives said.
Financial Times (tiered subscription model) (12/10) 
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FINRA proposes changes to expungement rules
The Financial Industry Regulatory Authority has proposed several changes to the process of having complaints removed from disciplinary records. The regulator is looking to put a one-year limit on expungement cases, require a unanimous decision from a panel of arbitrators and raise the minimum filing fee to $1,425 from the current $50.
Financial Advisor online (12/7) 
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Industry Report
Tax changes could threaten small-business 401(k) plans, group says
Proposed tax changes could discourage small employers from offering 401(k) plans, as they would gain a tax advantage by dropping them, the American Retirement Association says. The organization wants the public to alert lawmakers about the situation, saying an estimated 24 million workers could lose 401(k) access if the "pass-through" tax rate proposal is not modified.
Financial Advisor online (12/8) 
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Household wealth hit record in Q3
The net worth of households and not-for-profit groups climbed to a record $96.9 trillion last quarter, according to the Federal Reserve. Gains in the stock market and increases in property values drove the increase.
MarketWatch (12/7),  Bloomberg (free registration) (12/7),  Reuters (12/7) 
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Report: Women 80% more likely to be poor in later years
A report from the National Institute on Retirement Security found women age 65 and older are 80% more likely than men to be impoverished. The gender wage gap, the likelihood for women to be caregivers and women's longer life expectancy were cited as reasons.
Forbes (12/7) 
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Survey: Most retirees have positive outlook despite higher costs
A Capital Group survey found 60% of retirees said life in retirement is better than they expected, while only 10% said it is worse, with many citing financial or health issues as the reason. Respondents said a number of retirement expenses were higher than anticipated, particularly health care, travel and taxes.
PlanSponsor online (12/6) 
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FPA News
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