A data analytics company, Hedgeness, has developed a tool that can help financial professionals compare variable annuity guaranteed lifetime withdrawal benefits riders. The GLWB value indicator produces a standardized expense-to-benefit ratio that can be used to make comparisons.
Research shows use of target-date funds is growing, with around half of savers putting all of their money in a single target-date fund in 2017, according to Vanguard. Few investors understand that target-date funds have higher fees and may carry more risk than index funds, writes Nir Kaissar of Unison Advisors.
There aren't enough cryptocurrency assets being traded to present a threat to the financial system, Federal Reserve Chairman Jerome Powell told the US House Financial Services Committee. The central bank doesn't have any authority over cryptocurrencies and isn't interested in overseeing them, he said.
President Donald Trump criticized the Federal Reserve for raising interest rates while also saying, "I'm letting them do what they feel is best." Trump's comments were the first public presidential statement critical of the Federal Reserve since the term of George H.W. Bush.
The number of Americans filing for state unemployment benefits fell last week to a seasonally adjusted 207,000, the smallest number since December 1969, the Labor Department said. Economists surveyed by Reuters expected claims to rise to 220,000.
It's simpler to bring in new clients by improving service for current clients than using resources to prospect, writes Bryce Sanders of Perceptive Business Solutions. He recommends that advisors conduct face-to-face relationship reviews with clients and offers a step-by-step approach that can lead to referrals.
While internal digital communication tools such as Slack are useful, "they cannot communicate your culture," says Patrick Tucker of True Measure Wealth Management. "I think you have to be careful not to undervalue the importance of getting together," he says.
Many advisors are making inaccurate assumptions about their clients' views on charitable giving, according to a survey from the U.S. Trust. "Advisors who approach these conversations in a meaningful way -- focusing on personal goals and passions as well as the more technical aspects of giving -- are more likely to satisfy their clients' philanthropic needs while also growing their business," said Claire Costello of the U.S. Trust.
The IRI Retirement Fact Book 2018 is the definitive guide for the retirement income industry and the go-to resource for financial professionals and public policymakers. The latest edition provides the most recent research on generational retirement readiness, demographic insights and marketing trends from the retirement income marketplace, bolstered by market research and sales data. Other updates include a review of new developments in product innovation and the legal/regulatory environment. Download the PDF or order a printed copy here.
The Summer 2018 issue of IRI Insight includes an examination of the unique retirement risks faced by women, and the opportunities advisors have to help them plan. This issue also introduces "IRI Fast Facts," an infographic of select findings from our exclusive research that provide perspective on the retirement-planning challenges Americans face today. The issue includes articles on engaging families in long-term-care planning, optimizing Social Security benefits, volatility managed strategies and an interesting look at what clients say when their advisors are not in the room.