Across demographics, women worry about financial futures | Record close for S&P 500 breaks mark from 2007 | Assets of U.S. public pensions approach record
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March 29, 2013
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Across demographics, women worry about financial futures
Financial security in retirement is a concern among many women, regardless of their income or marital status, according to the 2013 Women, Money & Power Study from Allianz Life Insurance. Fifty-six percent of single women and 43% of married women said they worry about staying afloat in retirement. Women in the survey were concerned about their financial futures even though 60% are their family's breadwinner and 54% manage their family finances. BenefitsPro.com (3/28)
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Industry Update
Record close for S&P 500 breaks mark from 2007
The Standard & Poor's 500 index set a record high of 1,569.19 at the close of Thursday's trading session, beating the closing high of 1,565.15 set Oct. 9, 2007. "The market has been trying and trying, and we finally crossed the line," said Quincy Krosby of Prudential Financial. "Having the Dow reaching new highs was good, but the S&P 500 is broader, it's bigger. ... It's an important message for investors." Barron's (free content)/Stocks to Watch blog (3/28), Boston Herald (3/28), Reuters (3/28), The Wall Street Journal (3/28)
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Assets of U.S. public pensions approach record
Assets of the biggest 100 public pension funds are recovering but are still less than their peak in 2007, the Census Bureau says. The high point was $2.929 trillion, while the total was $2.836 trillion in the fourth quarter, the agency says. Pensions & Investments (free access for SmartBrief readers) (3/28)
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EBSA rule could affect sales of variable, IRA annuities
Annuities created for the IRA market, which saw more than half of the annuity inflows in 2012, could be significantly affected by an anticipated Employee Benefits Security Administration rule that would add the product to a fiduciary definition, Rich White writes. However, no-load variable annuities, which account for less than 5% of the VA market, could benefit from the expected rule and quickly gain market share as a result, he writes. BenefitsPro.com (3/28)
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Guide outlines ways seniors can recognize, avoid financial abuse
A guide from the Certified Financial Planner Board of Standards cites 10 ways in which older Americans are vulnerable to financial abuse, and suggests ways they can protect themselves. The guide cautions seniors not to be swayed by an adviser's certifications or invitations to "free" investment lunches. Seniors also should be aware that products recommended by a reputed expert still may not be right for them, and that investments sold as "guaranteed" or "safe" may not be legitimate, according to the guide written by CFP Board consumer advocate Eleanor Blayney. AdvisorOne (3/28)
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Other News
On the Economy
U.S. economy was stronger in Q4 than expected
The economy expanded at an annualized rate of 0.4% in the fourth quarter, a slow rate but better than an initial estimate of 0.1% contraction, the Bureau of Economic Analysis says. A 16.7% increase in investment in nonresidential buildings drove much of the growth, the agency says. CNNMoney (3/28), Shopfloor blog (3/28)
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Building Your Practice
How to use content marketing to build credibility
Marketing through websites and e-mail newsletters can be effective if the content you include offers advice or engaging content before attempting to pitch a sale, writes Kirk Hulett of Securities America Financial. "The guiding principle of this tactic is providing your target market (including prospective and existing clients) information that will help them solve a problem or further their buying decision without talking about how you specifically can fulfill that need," he writes. AdvisorOne (3/27)
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SmartQuote
It is always the secure who are humble."
-- G.K. Chesterton,
British writer
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