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February 15, 2013
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News covering the insurance and financial advising industry

  Top Story 
  • SEC to seek comments, weigh fiduciary standard, Walter says
    The Securities and Exchange Commission will seek public comments as it gives "serious consideration" to implementing a uniform fiduciary standard for broker-dealers and investment advisers, SEC Chairwoman Elisse Walter told the Senate banking committee. The agency is drafting the request to gather data, Walter said. "The request aims to seek information from commenters -- including retail investors, as well as industry participants -- that will be helpful to us as we continue to analyze the various components of the market for retail financial advice," she said. AdvisorOne (2/14) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • More advisers favor life insurance for college savings
    Life insurance with a cash balance that can be withdrawn for college expenses is becoming increasingly popular with financial advisers who are helping parents prepare to pay for higher education. A survey by Financial Research found that in 2012, 29% of advisers recommended life insurance for college savings, compared with 23% in 2011 and 21% in 2009. InvestmentNews (free registration) (2/14) LinkedInFacebookTwitterEmail this Story
  • Report cites a decade of growth for 401(k) balances
    Average 401(k) balances increased by 324% on average over the past decade for investors who stayed in the same company plan, a report from Fidelity Investments says. The increase came even as stocks tumbled during the financial crisis. In the same period, the S&P 500 Index gained 62%. Reuters (2/13) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • Exchanges will be ready by Oct. 1, HHS official tells Congress
    All 50 state health insurance markets will meet the enrollment deadline of Oct. 1, Gary Cohen of the U.S. Department of Health and Human Services told a Senate panel on Thursday. Senators from both parties raised concerns about how affordable plans on the exchanges will be. Reuters (2/14) LinkedInFacebookTwitterEmail this Story
  • Colo. clarifies parameters for brokers working with exchange
    Insurance agents and brokers can obtain referrals and sell policies via Colorado's health insurance exchange, and commissions will be paid directly by insurance companies instead of through the exchange. The state's Division of Insurance will retain oversight and licensing of producers. "Brokers are an important partner for the exchange because of their expertise, experience and strong history of serving businesses in Colorado," said Myung Oak Kim, a spokeswoman for the state's insurance exchange, in a statement. Health Policy Solutions (Colorado) (2/12) LinkedInFacebookTwitterEmail this Story
  Building Your Business 
  • Financial advisers add career counseling to their client services
    Some financial advisers are extending their professional advice to include management of clients' careers, which they say can affect the makeup of an investment portfolio. Many clients in their 50s and 60s are dissatisfied with their jobs and retirement plans, and clients in less-stable occupations may require a more conservative portfolio, advisers say. "For a lot of people, their career is the most valuable asset they have," says Gary Silverman of Personal Money Planning. The Wall Street Journal (2/14) LinkedInFacebookTwitterEmail this Story
  NAIFA News 
  • New free online Solutions Sessions exclusively for NAIFA Young Advisors
    NAIFA has launched a new program called NAIFA Solutions Sessions, developed to provide focused training and education for Young Advisers. Each month, we will feature a different practice management topic, and the first 25 Young Advisers who register are invited to participate in a one-hour, live, interactive group-coaching teleseminar session led by Advisor Solutions Coach Daniel C. Finley. Learn more and register for Mastering Questions-Based Selling: Knowing How to Ask the "Right" Questions, from 4 to 5 p.m. Eastern time on Thursday, Feb. 28. LinkedInFacebookTwitterEmail this Story
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In order that people may be happy in their work, these three things are needed: They must be fit for it; they must not do too much of it; and they must have a sense of success in it."
--John Ruskin,
British art critic

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