As life expectancy increases dramatically, the role of financial advisors in longevity planning grows more crucial, writes Kimberly Foss of Empyrion Wealth Management. She lists factors for advisors to consider as they seek to add value to the planning process.
Lawyer Alan Foxman offered clarification on the Financial Industry Regulatory Authority's definition of what constitutes an expert witness following a complaint that a witness called to speak at a recent FINRA hearing did not have relevant qualifications to comment on the case. Foxman notes the decision rests with the hearing officer and adds that if the complainant is not satisfied, the person may want to discuss appeal options with an attorney.
Steven Peikin and William Hinman, both lawyers appointed to senior positions at the Securities and Exchange Commission, have ties to and holdings in major corporations that could pose conflicts of interest, according to government documents. "Steve and Bill are subject to and complying with all applicable ethics laws, rules, and regulations, and both are working with the agency's ethics counsel as needed," SEC spokeswoman Judith Burns said.
Author and wealth planner Chris White acknowledges the difficulties of advising risk-averse clients, which he refers to as "Protectors," as their attitudes can make them reluctant to make investments or portfolio adjustments and likely to withdraw hastily at any suggestion of market turbulence. White offers six suggestions for helping them overcome their concerns and make sound financial decisions.
Only 26% of people who took an American College of Financial Services retirement-income quiz got a passing score, and only 5% got at least 80% of the questions right. Respondents showed a particular lack of knowledge about annuities, with only 29% answering correctly that annuities cost less for older people.
Nearly all women in households with more than $4 million in investable assets are either sole or joint decision-makers regarding household banking, and 84% are at least somewhat responsible for the family's investments, an RBC Wealth Management survey finds. The survey also indicates that women in this classification -- which has been described as one of the world's largest emerging markets -- are more likely than men to seek financial advice and to be content with a general grasp of financial scenarios without needing to know details.
Retirement should be a time that opens up new possibilities, but many fail to take full advantage, writes Dave Hughes. He recommends nine ways to get more out of these years, beginning with a mindset that is open to adventure.
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