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March 4, 2013
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Financial and wealth management news for the retirement community

  Top News 
  • Experts: Sequestration may have little immediate effect on advisers
    The federal sequestration budget cuts should not affect the investment strategies that financial advisers recommend to clients, experts say. Advisers should monitor the economic impact of the cuts, which could increase with time, and keep clients from panicking, experts say. Clients who work for the federal government face a heightened risk, says Duane Thompson of fi360. (3/1) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Commentary: Why a 401(k) is not enough
    Defined-benefit plans are a critical piece of retirement security, and Illinois should not move state workers out of their existing pension plan, writes William Atwood, executive director of the Illinois State Board of Investment. "There is a role for defined contribution plans to play," Atwood writes. "Their prudent function is to augment the retirement security provided by a reliable retirement plan, ideally a defined benefit plan." The State Journal-Register (Springfield, Ill.) (3/3) LinkedInFacebookTwitterEmail this Story
  • Report forecasts growth for investable assets
    Investable assets will continue to grow, says a report from Tiburon Strategic Advisors that projects the figure to hit $80 trillion by 2017. Americans have $12 trillion of retirement assets and other investable assets in equities, the report says. Consumer households' investment in equities has dropped 40% since 2002, to about $5.5 trillion, the report said. National Underwriter Life & Health (3/1) LinkedInFacebookTwitterEmail this Story
  • Further input is needed on fiduciary standard, SEC says
    The Securities and Exchange Commission says it wants additional input regarding a proposed uniform fiduciary standard for investment professionals, including its potential effects. "This request for information will help us in our ongoing consideration of alternative standards of conduct for certain broker-dealers and investment advisers, as well as potential harmonization of other aspects of regulation in this area," SEC Chairwoman Elisse Walter said in a statement. (3/1) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Literacy 
  On the Economy 
  • Analysis: Jobs, salaries stagnate as corporate profits surge
    The Dow Jones industrial average rose to within 75 points of a record high last week, marking what has become a "golden age for corporate profit" while millions of Americans are still unable to find work, Nelson Schwartz writes. Corporate profits accounted for 14.2% of national income in the third quarter, the most since 1950. The portion of that income paid to workers was 61.7%, close to the lowest amount since 1966. The New York Times (tiered subscription model) (3/3) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Study: Adviser referrals are won with trust, not badgering
    The top reason people refer their friends to an adviser is because the friends disclose they're having a financial problem, and the second reason is because they've been asked for a recommendation, research finds. Eleven percent of clients in the survey said they referred their advisers because the advisers asked them to. "Advisers have been asking clients to do the prospecting for them, and that's not fair and it's not what they signed up for," said Stephen Wershing of The Client Driven Practice. InvestmentNews (free registration) (3/3) LinkedInFacebookTwitterEmail this Story
  • Financial advisers should keep an eye on these areas
    Several trends are emerging in financial planning that advisers should watch and position themselves to address, Ann Marsh writes. Some are new while others represent changes in thinking in existing areas, Marsh writes. The trends include longevity risk and compensation shifts, crowdfunding, artificial intelligence, security and the cloud, and outsourcing, she writes. (3/1) LinkedInFacebookTwitterEmail this Story
The person whose doors I enter with most pleasure, and quit with most regret, never did me the smallest favor."
--William Hazlitt,
British writer and philosopher

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