| Financial and wealth management news for the retirement community |  |
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| Industry Update | | |
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- Commentary: U.S. needs policy fixes for older unemployed workers
Older workers face far longer periods of joblessness than do younger Americans, and national policies are needed to help them, writes Claire McKenna of the National Employment Law Project. Last year, for example, 40% of older unemployed workers were without jobs for a year or more. Bouncing back from a job loss is more difficult for older workers, and retirement security can take a hit, McKenna writes. "That means policymakers need to develop new ways to help older unemployed workers find their way back to good employment and financial self-sufficiency," she writes. The Christian Science Monitor
(4/23)     
- SEC could issue fiduciary "concept release" this summer
The Securities and Exchange Commission could roll out a "concept release" of its fiduciary rules for brokers sometime this summer, said Andrew "Buddy" Donohue, the former director of the SEC's Division of Investment Management. The release will contain questions but little indication of the SEC's own position regarding the fiduciary rule, Donohue said. A final rule would likely take substantially longer, as the SEC resolves internal disputes. AdvisorOne
(4/23)
| Financial Literacy | | |
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- LendingTree CEO: Start children on the path to financial literacy early
By the time their children are 6, parents should be teaching them about saving, spending and giving to charity, writes Doug Lebda, CEO of LendingTree.com. "[W]hen you start teaching children about money and finance early in life, it simply becomes second nature to them, as opposed to something that can cause stress or fear as they become teens and young adults," Lebda writes. The Huffington Post
(4/23)
| On the Economy | | |
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- Hiring and salaries are set to increase, survey says
Nearly 40% of companies expect to see hiring rise in the next six months, an increase of 12 percentage points since January, according to a survey by the National Association of Business Economics. Meanwhile, about 45% of respondents said workers' salaries are increasing, up from about 25% three months ago. CNBC/Reuters
(4/23)
| Building Your Practice | | |
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- Get your customers to give you what you're owed
Customers who don't pay their bills are bad for business, so it's a good idea to run a credit check on potential clients, experts say. You should also create a contract that explains the billing procedure and consider offering incentives to encourage payment. "It's all about getting that client attracted to making that payment," said Nellie Akalp of CorpNet Incorporation Services. Fox Business Small Business Center
(4/20)
| Financial Products | | |
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- Analysis: TIPS is relied on too much as an inflation hedge
Financial advisers have widely embraced Treasury Inflation-Protected Securities as a way to protect clients from inflation, but these securities are of limited value as an inflation hedge. TIPS are linked to the U.S. government's Consumer Price Index, a flawed indicator that reflects only half of the inflation experienced by consumers in the real economy. Registered Rep.
(4/23)
- Study: The cost of mutual funds continues to fall
The average expense ratio for equity mutual funds fell 20% over the past 20 years, according to a study, and the popularity of index funds and low-cost funds are part of the reason. The study by the Investment Company Institute found that equity fund expenses averaged 79 basis points last year, down 4 basis points from a year earlier. Financial Advisor online
(4/23)
| SmartQuote | | |
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 | Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you."
--Carl Sandburg,
American poet, historian and novelist
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