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February 19, 2013
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Financial and wealth management news for the retirement community

  Top News 
  • Life insurance cash-outs rise
    More seniors are converting life insurance policies to cash via life settlements, a practice that some regulators and life insurance trade groups warn could harm seniors. Investors who buy the policies say they can be lucrative, and some say the move can be good for seniors as well. "This is a good investment for people who don't need the insurance or can't afford the premiums," insurance broker Howard Stern says. Pittsburgh Tribune-Review (2/18) LinkedInFacebookTwitterEmail this Story
FEATURED ARTICLE: Make New Year’s Resolutions for Your Business
Get your business into shape for 2015 by working on these three resolutions. Read the article to learn more.

  Industry Update 
 
  • BofA sees a 28% increase in new retirement-plan assets
    Bank of America is winning more 401(k) business, largely because of successful cross-selling to clients of its commercial bank. BofA saw new retirement-plan assets rise 28% to $24.3 billion last year. Banks are aggressively cross-selling retirement services, competing against 401(k) behemoths such as Vanguard Group and Fidelity Investments, as they seek new sources of revenue. Bloomberg (2/19) LinkedInFacebookTwitterEmail this Story
  • The benefits of easing into retirement
    People who work at least part time in their 60s and who take up more retirement-style activities before actually retiring can get ahead financially, says Christine Fahlund of T. Rowe Price Group. The strategy allows near-retirees to spend money from their wages on leisure activities, instead of spending down their nest eggs. The Wall Street Journal (2/17) LinkedInFacebookTwitterEmail this Story
6 Best Practices to Continuous Planning Success
Whether you call it 'forecasting' or 'planning', the key is to enable a continuous process that delivers real-time, up-to-date information to drive effective business decisions. Download this whitepaper to learn how you can bring everyone in your organization into your planning process.

  Financial Literacy 
  • 1980s law to hit Social Security for some government workers
    Some Americans will not get the Social Security benefits they may have been expecting because of a rule adopted in 1983. Workers who were eligible for a government pension and were hired before 1984 are subject to a provision that prevents them from getting both the pension and full Social Security benefits. The so-called Windfall Elimination Provision lowers the benefits amount for those who were not subject to payroll tax. Fox Business (2/18) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • Income gains in recovering U.S. economy bypass most Americans
    Most of the income gains from the U.S. economic recovery that began in 2009 have gone to the upper 1%, according to an analysis by economist Emmanuel Saez of the University of California, Berkeley. In fact, real incomes for the lower 99% are less than they were at the end of the recession. Saez says this pattern of upward income redistribution is expected to persist. CBS MoneyWatch (2/17) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • How to succeed as an independent retirement-plan adviser
    Independent retirement-plan advisers who succeed share three traits, Liz Davidson writes: They create clear plans with one-, three- and five-year horizons and an overarching vision for the decade; they plan ahead for clients; and they understand that expenses need to stay low while investments in things that give their firm a competitive edge should be robust. AdvisorOne (2/18) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
The right to be let alone is indeed the beginning of all freedoms."
--William O. Douglas,
U.S. Supreme Court justice


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