Being a client's Facebook friend can bring benefits | Much about the fate of Labor's fiduciary rule remains uncertain | SEC nominee has no "specific plans" to tackle Dodd-Frank Act
March 24, 2017
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Being a client's Facebook friend can bring benefits
Facebook
(Robyn Beck/AFP/Getty Images)
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.
WealthManagement.com (U.S.) (3/23) 
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Policy Watch
Much about the fate of Labor's fiduciary rule remains uncertain
Uncertainty exists regarding when the Labor Department's new fiduciary rule will take effect, or whether it will ever go into effect, lawyers say.
Forbes (3/23) 
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SEC nominee has no "specific plans" to tackle Dodd-Frank Act
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.
Bloomberg (3/23),  ThinkAdvisor (free registration) (3/23),  The Wall Street Journal (tiered subscription model) (3/23),  Financial Times (tiered subscription model) (3/23) 
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Paper: Simplify Dodd-Frank, but don't kill it
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.
Market News International (3/23) 
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Caregivers also suffer in elder financial abuse
Senior woman
(Sebastien Bozon/AFP/Getty Images)
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.
ThinkAdvisor (free registration) (3/22) 
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Building Your Business
How to make RMD rules work for retirement plans
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.
Financial-Planning.com (3/23) 
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Retirement Focus
Retirement confidence stems from written plan
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.
PlanSponsor.com (3/23) 
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We do not need magic to change the world. We carry all the power we need inside ourselves already: We have the power to imagine better.
J.K. Rowling,
writer
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