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December 20, 2012
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Financial and wealth management news for the retirement community

  Top News 
  • Study: Financial advisers appeal less to younger boomers
    Younger baby boomers appear less confident in financial advisers than their older counterparts, according to a Cogent Research study. "The financial services industry has spent the better part of a decade treating boomers as a single and cohesive group," said Meredith Lloyd Rice, senior project director at Cogent. "However, these new findings suggest companies need to take another look." InvestmentNews (free registration) (12/19) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Principal Financial CEO: 401(k) tax breaks help society
    Lawmakers should keep in mind all of the benefits of retirement tax incentives when considering changes, writes Larry Zimpleman, CEO of Principal Financial Group, in this letter to the editor. Investors ultimately pay taxes on their investments, and while they might fall into a lower tax bracket in retirement, they are paying taxes on compounded earnings. Also, because of the incentives, more Americans build their own retirement security and are less dependent on government programs, he writes. Politico (Washington, D.C.) (12/20) LinkedInFacebookTwitterEmail this Story
  • Most investors have multiple advisers, analysis shows
    About 70% of clients have placed their assets under the management of more than one financial adviser or directed brokerage account, but few advisers are aware of the situation, according to an analysis by Cerulli Associates. Only 17% of advisers are aware of clients' accounts that aren't under their supervision, Cerulli found. InvestmentNews (free registration) (12/19) LinkedInFacebookTwitterEmail this Story
  • Study: Adviser pay has held steady or increased in past 2 years
    Less than 1% of advisory firms cut pay during 2011 and 2012, according to research from FA Insight. Total compensation at most firms remained steady or increased during that time. "In the two-year period dating back to the close of 2010, the cumulative increases in compensation for advisory firms are anticipated to range from 6.1% to 10.3%," the report says. AdvisorOne (12/19) LinkedInFacebookTwitterEmail this Story
  Financial Literacy 
  • Commentary: Be careful with the 4% withdrawal rule
    It's no longer smart for retirees to assume they can withdraw 4% of their savings every year during retirement, David Ning writes. Portfolios can take a hit and expenses can vary year to year, he writes. "By all means, start withdrawing 4 percent of your portfolio when you retire, but make sure you are ready to make adjustments in the years your investments don't perform the way you are hoping they will," Ning writes. U.S. News & World Report/On Retirement blog (12/19) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • U.S. economy, self-gifting change holiday shopping season
    Steady increases over the last decade in the number of Americans shopping for themselves during the holidays has made self-gifting an acceptable norm. A challenging economy has transformed retailers’ approach to the holiday shopping season from attractive window displays to a period of sales and promotions to help meet consumer needs. The Washington Post (12/17) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Why clients need the shocking truth about retirement
    Advisers can find it difficult to confront clients with harsh realities of retirement, such as the poverty they may face if they quit work too soon, the health problems they could develop and way their relationships could change. But advisers who share these warnings tactfully can motivate investors into action, writes Robert Laura, president of SYNERGOS Financial Group. Financial Advisor online (12/18) LinkedInFacebookTwitterEmail this Story
  • How tax-withholding changes can add up for 401(k) clients
    To help clients boost their 401(k) savings, financial adviser Brian Heckert says, he checks their tax-withholding levels. If he can change their withholding level to free up extra cash, he encourages clients to immediately funnel the money into a 401(k). Heckert, founder of Financial Solutions Midwest in Nashville, Ill., said he has added value to clients by emphasizing this service, which can make a big difference to their retirement accounts over time. The Wall Street Journal (12/19) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
Is life not a hundred times too short for us to stifle ourselves?"
--Friedrich Nietzsche,
German philosopher


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