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February 13, 2013
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Financial and wealth management news for the retirement community

  Top News 
  • Boomers should make plans to protect assets if memory slips
    About 20% of Americans 70 and older have mild cognitive impairment, according to the American College of Physicians. The condition is less severe than dementia but it can cloud financial decision making and put retirement savings at risk. Baby boomers should plan for a time when they might need help managing their finances, experts say. USA Today (2/12) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Annuities offer protection as 4% rule crumbles, experts say
    The 4% rule for retirement withdrawals has an anticipated failure rate of 57% because of low interest rates, write William Byrnes and Robert Bloink. Retirees concerned about outliving their financial resources might do better with annuities, which have been improved with critical-care riders that can cover long-term-care expenses or provide cash if the benefit is never used, Byrnes and Bloink write. AdvisorOne (2/12) LinkedInFacebookTwitterEmail this Story
  • Fixed annuities may not be best for younger retirees, some say
    Fixed annuities can be a problematic investment for younger retirees because of low interest rates and inflation risks, some experts say. "When you lock in a low guaranteed interest rate on an annuity, you're ensuring you'll lose purchasing power if there's any inflation," says Anna Pfaehler of Palisades Hudson Financial Group. Pittsburgh Post-Gazette (2/12) LinkedInFacebookTwitterEmail this Story
  • SEC is asked to reconsider arbitration clauses in adviser contracts
    The Securities and Exchange Commission should remove clauses in contracts between registered investment advisers and their clients that bind clients to mandatory arbitration to settle disputes, a Massachusetts official argues. "At a minimum, the commission should commence a study of the issues raised by these provisions," Secretary of the Commonwealth William Galvin wrote in a letter to the SEC. The Wall Street Journal (2/12) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Literacy 
  • Commentary: Need for financial literacy trumps fiduciary standard
    A uniform fiduciary standard would fall short because ethical behavior can't be legislated and regulators often impose minimal punishments for those who flout it, Todd Greider writes. The best protection against illegal and unethical behavior, Greider writes, is for the general public to become more financially literate. Consumers would then be in a position to spot fraud and chose the right advisers, he writes. National Underwriter Life & Health (2/12) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  Building Your Practice 
  • Are you projecting the image you want?
    Success starts with image, writes Kevin Daum, who offers seven tips for refining how you are perceived. Good grooming and style are essential, as are proper grammar and the ability to engage in interesting and intelligent conversation, Daum writes. He also suggests making sure the people you interact with feel valued and spending time around people whose success you admire. "You want people to think you are a winner from Day One," Daum writes. Inc. online (free registration) (2/8) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
Every individual has a place to fill in the world and is important in some respect whether he chooses to be so or not."
--Nathaniel Hawthorne,
American author


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