A correlation exists between the number of referrals an advisor gains and the number of connections an advisor makes with clients via Facebook, according to research by Stephen Boswell and Kevin Nichols of The Oechsli Institute. The study shows advisors who connect with clients regularly on Facebook receive significantly more referrals than those who don't, suggesting Facebook is an important differentiator in word-of-mouth influence when used properly.
Jay Clayton, President Donald Trump's nominee to be chairman of the Securities and Exchange Commission, said the Dodd-Frank Act should be looked at to see if its objectives are being achieved, but he doesn't have "specific plans for attack" against the law. The SEC should continue its work on rules mandated by Dodd-Frank that haven't yet been completed, he said.
The US would make a big mistake by taking the Dodd-Frank Act completely off the books, but that doesn't mean the law couldn't be improved, according to a paper by Tobias Adrian and Maurice Obstfeld, chief economist for the International Monetary Fund. "There is certainly room for simplification," they wrote.
Caregivers to victims of elder financial abuse incur an average cost of $36,000, a study by Allianz Life shows. This has prompted a call for protection from collateral damage for caregivers, who are set to increase in coming years.
IRS guidelines on the required minimum distribution apply to virtually all retirement plans, putting the onus on advisors to understand them and to ensure maximum benefit for clients. Craig Israelsen explains the complex guidelines and highlights areas of advantage.
Nearly twice as many investors with a written plan as those without one are highly confident of a comfortable retirement, according to the Wells Fargo/Gallup Investor and Retirement Optimism Index. The index shows higher confidence overall, with 78% of investors thinking they can maintain the lifestyle desired in retirement, an increase from 69% in 2014.
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