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February 7, 2013
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Financial and wealth management news for the retirement community

  Top News 
  • Commentary: Remove employers from retirement savings
    A Danish study casts doubt on the effectiveness of tax incentives for retirement savings, while suggesting that automatic enrollment programs are effective at getting workers to save. Alicia Munnell writes that the U.S. should continue to offer tax incentives so workers feel retirement savings are a good deal, but employers should not be part of the mix because they don't do a good job at encouraging savings and they don't like the role, she writes. Munnell suggests a new system run by competing benefits administrators. MarketWatch/Encore blog (2/6) LinkedInFacebookTwitterEmail this Story
Selling your business? Here are 7 things you should do now.
If you're considering selling your business, you should be doing everything you can to get the best possible price. In just 7 simple steps you can improve your chances of attracting buyers and getting big bucks for your business. Read the article and learn the 7 steps.

  Industry Update 
 
  • Future of asset rollovers hangs on fiduciary definition
    A new definition of "fiduciary" from the U.S. Labor Department will determine whether both fee-only and commission advisers can transfer individuals' assets from 401(k)s into IRAs. "The definition of fiduciary will continue to be lightning-rod issues in 2013," says Donald Cummings of Blue Haven Capital. Financial Advisor online (2/6) LinkedInFacebookTwitterEmail this Story
  • Experts: 401(k)s still are tapped for loans too often
    The percentage of workers taking 401(k) loans or distributions appears to have decreased, but experts say the numbers are still too high. About $70 billion of the $294 billion deposited in 401(k)s each year is withdrawn for expenses such as mortgages or credit card bills, says Matt Fellowes of HelloWallet. Financial Advisor online (2/6) LinkedInFacebookTwitterEmail this Story
  • Retirement plans seen making more use of target-date strategies
    Defined-contribution retirement plans likely will increase use of target-date investment strategies, encouraged by features including auto-enrollment, re-enrollment and default investment options, industry experts said. During the 12-month period that ended Sept. 30, investment in target-date strategies by defined-contribution plans rose nearly 29%, according to Pensions & Investments' annual survey of the biggest retirement plans. Pensions & Investments (free registration) (2/4) LinkedInFacebookTwitterEmail this Story
Transformational Journeys: Modern Business Planning
Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
Click here to access the report.

  Financial Literacy 
  • Mobile financial-literacy center opens for N.J. students
    A financial-literacy center that will travel throughout New Jersey has launched in Newark, with the support of Capital One, Verizon and other businesses. The center, called Finance Park, works in conjunction with Junior Achievement and is intended to uphold the state's financial-literacy requirement for high-school students. NJBIZ (New Jersey) (2/5) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • More metro areas see improving housing market
    Metropolitan areas that have seen their housing market improve increased from 242 in January to 259 this month, according to the National Association of Home Builders/First American Improving Markets Index. The index is based on at least six straight months of uptick in housing permits, home prices and employment. The results show "the housing recovery has substantial momentum and continues to expand from one market to the next," NAHB Chairman Rick Judson said. The Hill/On the Money blog (2/6), Port City Daily (Wilmington, N.C.) (2/6) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Report cites challenges in working with boomers
    Financial advisers are facing difficulties serving clients who are retired or nearing retirement, a report from GDC Research and Practical Perspectives finds. Advisers struggle to help them set realistic expectations for retirement, and many are divided on the best strategies for generating retirement income, the report found. AdvisorOne (2/5) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
Boredom is the feeling that everything is a waste of time; serenity, that nothing is."
--Thomas Szasz,
Hungarian psychiatrist and academic


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