| News covering the insurance and financial advising industry |  |
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- Lawmakers introduce bill calling for SRO for advisers
 House Financial Services Committee Chairman Spencer Bachus, R-Ala., and Rep. Carolyn McCarthy, D-N.Y., have introduced legislation that would put financial advisers under the supervision of a self-regulatory agency rather than the Securities and Exchange Commission. The lawmakers said the SEC doesn't have the resources to properly regulate financial advisers. "When the SEC has never taken even a cursory look at a third of investment advisers, that creates a trust gap with consumers," NAIFA President Robert Miller said. AdvisorOne
(4/25), Reuters
(4/25), Financial-Planning.com
(4/25), InvestmentNews (free registration)
(4/25), The New York Times (tiered subscription model)/DealBook blog
(4/25)     
| Industry News | | |
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- Labor Department heightens examinations of 401(k) providers
The U.S. Labor Department is conducting deeper examinations of the firms that provide 401(k) services to companies, part of an effort to review employee-benefits services. In the past 12 months, the department has heightened exams of brokerage firms, registered investment advisers and third-party administrators, attorneys said. Reuters
(4/25)
- Report details advisers' strategies amid low interest rates
A survey-based report indicates that 85% of advisers say low interest rates have affected their ability to help retirement-income clients. Many advisers have reacted to low rates by turning to annuities with living-benefit income riders or dividend-paying stocks, the report found. AdvisorOne
(4/25)
- Expert: Combining life, long-term-care insurance may help boomers
Clients in their mid-60s often resist buying long-term-care insurance because of confidence they won't need it and an unwillingness to pay for something they think they won't use, lawyer Philip Harriman writes. For such people, a combination life and long-term-care insurance policy may work well, Harriman writes. The hybrid product pays for long-term medical needs, but if those don't arise, it acts like a life insurance policy. National Underwriter Life & Health
(4/25)
| Investment Trends | | |
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- Shrink the home, increase the retirement savings
Many retirees would save if they downsized to a smaller home, experts say. Large medical bills loom in many retirees' future, and downsizing early can help older people prepare, says Olivia Mitchell, director of the Boettner Center for Pensions and Retirement Security at the University of Pennsylvania's Wharton School. CNBC
(4/24)
| Policy Watch | | |
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- Sorting out the Social Security funding scare
Social Security Administration Commissioner Michael Astrue is trying to address what he says is a misconception: that the Social Security fund is soon to be empty. "After 2033, even if Congress does nothing, there will still be sufficient assets [from payroll taxes] to pay about 75% of benefits," he says. Partial funding is not acceptable, he says, but it's not the same as an empty fund. Reuters
(4/24)
| Building Your Business | | |
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- How to overcome client objections to life insurance
Many people want to buy only enough insurance to pay for a funeral and pay off a mortgage, but helping customers see wider needs is key, Lloyd Lofton writes. Lofton suggests talking to prospects about how insurance benefits can help with children's education, charitable giving and the replacement of lost income to maintain a certain lifestyle. National Underwriter Life & Health
(4/25)
| NAIFA News | | |
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Passion is required for a winning culture
Passion is one of those words that many people love to use, but rarely do they demonstrate it themselves. It easily can be the reason for almost any person or organization's success. Passion fuels everything good about a person or an organization, so why is it so hard to find people who are passionate about their jobs or the product or service they sell? Go to the Advisor Today blog for tips on making passion a mandatory part of company culture.
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