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December 26, 2012
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Financial and wealth management news for the retirement community

  Top News 
  • Skittish investors miss out on equity gains
    Stock gains in recent years still have seen U.S. investors continue to retreat from equities, their confidence battered by the financial crisis. Investors have decreased the proportion of stock holdings in their retirement funds, the first such pullback during a bull market in 20 years. "Our biggest liability in the stock market has been the total destruction to confidence," said James Paulsen, chief investment strategist at Wells Capital Management. Bloomberg (12/24) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Low interest rates can exhaust retirement income, study finds
    Prudential Financial and Ernst & Young studied the effects of low interest rates on a hypothetical retirement portfolio of $300,000 and found the highest "failure rate" when factoring in extended low interest rates. Periods of sustained low rates nearly double the probably of exhausting one's retirement assets, said Kimberly Supersano of Prudential Annuities. The study says variable annuities, which Prudential sells, are one solution to combating low rates. National Underwriter Life & Health (12/26) LinkedInFacebookTwitterEmail this Story
  • Study: Many LTCI buyers are looking to protect assets, estates
    Among buyers of long-term-care insurance, about one-third said they made the purchase chiefly to guard their assets and estates, according to a study from America's Health Insurance Plans. Adviser recommendations play a major role in which plan clients buy, the study found, and more than half of respondents said they bought plans because they were worried that the "cost of insurance would increase in [the] future." National Underwriter Life & Health (12/24) LinkedInFacebookTwitterEmail this Story
  • Advisers express confidence that Congress will pass an AMT patch
    Nobody knows for sure whether or when Congress will pass this year's inflation adjustment for the alternative minimum tax, commonly known as the AMT patch, but most financial advisers assume it will be adopted. Many are already working on calculations for their clients telling them what they will have to pay in taxes, based upon that assumption. The Wall Street Journal (12/21) LinkedInFacebookTwitterEmail this Story
  Financial Literacy 
  • Summit focuses on financial literacy
    Operation HOPE held its Global Financial Dignity Summit in Atlanta, where it has opened a Financial Dignity Center to promote financial literacy. Participants at the conference agreed that people need lessons in managing money in order to participate in the financial system. One panelist, however, said efforts to improve financial literacy feel "fragmented." American Banker magazine (1/2013) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • Holiday-sales growth is lowest since recession
    This year's holiday shopping season in the U.S. produced the smallest percentage of growth since 2008, when the nation was in recession, according to data from MasterCard Advisors SpendingPulse. Spending in the two months leading up to Christmas rose 0.7%, the company said. Many analysts predicted an increase of 3% to 4%. ABC News/The Associated Press (12/26) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Step up performance to see better raises and bonuses
    If your year-end bonus or pay raise isn't what you think you deserve, step up your performance or ask the boss for more responsibilities, writes Angie Herbers. "Think about it as you would a client relationship. Advisors who simply raise their fees to make more money usually lose clients. But if they increase their services, clients are usually happy to pay more," Herbers writes. AdvisorOne (12/23) LinkedInFacebookTwitterEmail this Story
  • Focus your newsletters on people, not money
    Use your newsletter to help clients improve their relationships instead of focusing on money, writes Brent Welch of Welshire Capital. Clients trust their advisers to handle their money so that they can focus on other things in life, especially other people. "By helping them improve their relationships and their physical and spiritual health, you are connecting with them on a level that most of their other advisors never do," Welch writes. National Underwriter Life & Health (12/26) LinkedInFacebookTwitterEmail this Story
When one man, for whatever reason, has the opportunity to lead an extraordinary life, he has no right to keep it to himself."
--Jacques Cousteau,
French naval officer and explorer

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