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December 31, 2012
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Financial and wealth management news for the retirement community

  Top News 
  • Republicans concede on Social Security changes in fiscal talks
    Republican lawmakers had demanded that any "fiscal cliff" deal include revisions to the formula used to calculate annual cost-of-living adjustments for Social Security beneficiaries, but they backed away from that demand on Sunday. Some say Social Security changes could come as part of a fiscal deal later in the year, but for now, they aren't likely to be part of a stopgap agreement. The Washington Times (12/30), The Huffington Post (12/31) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • FHA imposes moratorium on some reverse mortgages
    The Federal Housing Administration is halting its standard fixed-rate reverse-mortgage program. Borrowers can still obtain other types of reverse mortgages, such as those with smaller drawdowns and adjustable rates. The FHA also is considering additional rules for reverse-mortgage borrowers, such as financial-qualification standards. Boston Herald (12/30) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • Timely state tax refunds could hinge on "fiscal cliff" deal
    Taxpayers could have trouble filing state income taxes until federal lawmakers resolve tax issues involved in the "fiscal cliff." That's because most states base their income-tax calculations on federal formulas. If taxpayers can't file their taxes on time, those who would receive refunds also would face delays. "This money is critically important to people paying rent, paying down debt and other expenses," TurboTax executive Bob Meighan says. USA Today (12/30) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Tips for networking your way to referrals
    Good networking skills can lead to increased referrals, consultant Michael Goldberg writes. He recommends being upfront when proposing a networking relationship, and he offers six reasons why others may not offer business referrals in return for similar consideration. Goldberg suggests keeping the conversation brief and light when networking on the golf course, and that networking with older contacts calls for a "likeable, inquisitive" approach and a clear message. National Underwriter Life & Health (12/28) LinkedInFacebookTwitterEmail this Story
  • Advisers should be deliberate about rebalancing, experts say
    Advisers with a haphazard approach to rebalancing their clients' portfolios could be missing opportunities, experts say. Some advisers use software to guide their rebalancing. "Having a consistent and persistent process that you execute against is important," says Michael Abelson of Genworth Financial Wealth Management. The Wall Street Journal (12/28) LinkedInFacebookTwitterEmail this Story
  Editor's Note 
  • SmartBrief will not publish Tuesday
    In observance of New Year's Day, SmartBrief will not publish Tuesday. Publication will resume Wednesday. Enjoy the holiday! LinkedInFacebookTwitterEmail this Story
New Year's Day is every man's birthday."
--Charles Lamb,
English essayist

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