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December 4, 2012
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Financial and wealth management news for the retirement community

  Top News 
  • Older investors are fleeing risk, study shows
    A majority of investors 55 and older favor stable investment products rather than riskier products that could offer higher returns, according to the AIG Retirement Re-Set Study. The preference suggests that older Americans still have diminished confidence in the markets and the economy, even though both have rebounded since the financial crisis, says Jay Wintrob, CEO of AIG Life and Retirement. InvestmentNews/Retirement 2.0 blog (free registration) (12/3) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Upper-middle-income earners benefit most from 401(k) incentives
    If lawmakers were to change tax incentives for 401(k) plans in their efforts to reduce the federal deficit, those most affected would be Americans earning $160,000 to $600,000 a year, research indicates. Those earning less pay lower rates and tend to save less; those earning more already face a limit on how much they are able to save in tax-deferred plans, and those plans likely represent a small portion of their financial assets. MarketWatch/Encore blog (12/3) LinkedInFacebookTwitterEmail this Story
  • Q3 fixed-annuity sales were boosted by income annuities, data show
    Income annuities gave a boost to fixed-annuity sales during a record third quarter, with a 3.8% increase to $2.4 billion from the second quarter, according to data from Morningstar and Beacon Research. Sales increased 6.7% year-over-year for the third quarter. "The consumer demand for income annuities has grown steadily during the past two years as consumers seek to generate a guaranteed stream of retirement income," said Cathy Weatherford of the Insured Retirement Institute. Insurance Networking News (12/3) LinkedInFacebookTwitterEmail this Story
  • Fiduciary standard remains on SEC's radar
    The Securities and Exchange Commission may move forward with creating a uniform fiduciary rule for financial advisers and brokers, according to a report issued by the agency in recent days. The SEC's chairwoman-designate, Elisse Walter, appears to be a supporter of harmonizing rules that govern financial advisers and broker-dealers. AdvisorOne (12/3) LinkedInFacebookTwitterEmail this Story
  • Other News
  On the Economy 
  • "Fiscal cliff" fears blunt hiring, economists say
    Many employers who would ordinarily be hiring are refraining because of uncertainty over whether Congress will find a way to avert the U.S. "fiscal cliff," many economists say. Between July and September, worker productivity rose at an annualized rate of 1.9%, indicating that employers are squeezing as much from workers as they can realistically expect to get, some experts say. But hiring hasn't picked up. NBC News/Economy Watch blog (12/3) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Steps advisers should take to protect against regulatory actions
    Advisers should take steps to protect themselves against state and federal regulatory agencies that are stepping up compliance activities, Tom Giachetti says. Advisers should document all processes, especially if third-party asset managers are involved, and they should have current and signed confirmations from clients who want to move to cash, especially during the "fiscal cliff" negotiations. Giachetti also recommends staying away from ill-defined terms such as "assets under advisement." AdvisorOne (11/30) LinkedInFacebookTwitterEmail this Story
  • Presenting? Don't annoy your audience with a sales pitch
    When you have the opportunity to give a presentation in front of an audience, you should avoid alienating your listeners by launching into a sales pitch, Adrian Miller of Adrian Miller Sales Training writes. It's a good idea to load your presentation with valuable information and to prepare a few questions to get the audience thinking. "[I]f you are wondering if your presentation is too 'salesy' practice it with a friend or colleague and get their honest opinion," she recommends. (11/28) LinkedInFacebookTwitterEmail this Story
Don't look where you fell, but where you slipped."
--Liberian proverb

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