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February 12, 2013
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Financial and wealth management news for the retirement community

  Top News 
  • Why retirement saving has become increasingly automated
    Employer-sponsored 401(k) plans are sometimes touted as a way to put workers in charge of their own retirement funds. But increasingly, workers are automatically enrolled into plans, and their dollars are directed into target-date funds, which contain a mix of investments that are selected for them. Plan administrators say the shift to automatic savings comes, in part, because of new information about investor behavior. "Our view in 1980 was unsophisticated about individual decision-makers," says Stephen Utkus, director of the Vanguard Center for Retirement Research. The New York Times (tiered subscription model) (2/11) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Report: Married baby boomers outpace singles in retirement savings
    Eight of 10 married baby boomers have accumulated retirement savings and more than half have set retirement goals with an adviser's help, compared with 66.6% and 40.8%, respectively, of their unmarried counterparts, according to the Insured Retirement Institute. Married boomers also are also less likely than their single counterparts are to rely on Social Security as a major source of retirement income, according to the group. Among couples, 47.1% are instead depending on a 401(k) plan, compared with 27.8% of unmarried boomers, the group said. Financial-Planning.com (2/11) LinkedInFacebookTwitterEmail this Story
  • Commentary: Financial planning isn't a commodity service
    Financial planning may avoid becoming a commodity service because it relies on providing clients with customized advice that reflects the planner's expertise and acumen, Michael Kitces writes. Some aspects of planning, such as providing basic financial projections or implementing passive portfolios, can be accomplished by clients using online tools or software, but financial planners who provide high-quality analysis and advice may find their skills more competitive in contrast, Kitces writes. Nerd's Eye View blog (2/11) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Literacy 
  • Mobile app connects children with banking
    Banker Jr. is a mobile application meant to help children learn about saving and familiarize them with the concept of mobile banking. Children's trips to the bank with their parents are on the decline now that more bank transactions happen digitally, says Kathleen Craig, an assistant vice president at United Bank & Trust who created the app. AmericanBanker.com (free registration) (2/8) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • Don't look for more debt-reduction talk from White House
    The Obama administration is signaling to Congress that it doesn't plan to launch another initiative to cut the national debt. The White House is telling policymakers that if a deal can be reached to head off across-the-board cuts, President Barack Obama will have achieved his goal of curbing the acceleration of government borrowing. The Washington Post (2/11) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • How to get clients to act on your advice
    Financial advisers' success depends on their ability to get clients to act on their advice, writes David Port. Establishing transparency, showing clients the big picture and pointing out solutions to their problems are among the ways advisers can close the deal, Port writes. National Underwriter Life & Health (2/7) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
Do not teach your children never to be angry; teach them how to be angry."
--Lyman Abbott,
American theologian, author and editor


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