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March 13, 2013
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News covering the insurance and financial advising industry

  Top Story 
  • White says she'll weigh cost-benefit analysis of fiduciary standard
    Mary Jo White, President Barack Obama's nominee to lead the Securities and Exchange Commission, said at a confirmation hearing that she would consider the results of a cost-benefit analysis regarding a uniform fiduciary standard for investment advisers and broker-dealers before she would propose such a rule. She offered no opinion on a uniform fiduciary standard. "The SEC should recognize that there are some benefits or costs of under-enforcement that have to be evaluated on their own terms," White said. InvestmentNews (free registration) (3/12) 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 News 
 
  • Professor offers reasons for variance in state life insurance rates
    Lisa Gardner of Drake University offers possible reasons why life insurance coverage hasn't kept pace with the high marriage rate in Idaho, Utah and Wyoming, as reported in a Bankrate.com survey. Those states also tend to have sparse population density, may have fewer but more valuable policies and fewer agents, and may have more people covered by group policies, Gardner says. In contrast, Alabama, Louisiana and Mississippi have the highest rates of policies based on population, possibly because of higher population density, lower savings rates and the debit insurance system, she says. Bankrate.com (3/12) LinkedInFacebookTwitterEmail this Story
  • Survey: Many middle-income Americans lack retirement facts
    About a third of middle-income Americans older than 55 don't know they can significantly increase their future Social Security payouts by delaying when they begin to receive the benefits, according to a Bankers Life and Casualty study. The survey of middle-income Americans 55 to 75 also revealed that 47% incorrectly think that Social Security cost-of-living hikes are guaranteed and that 87% rarely consider the impact of longevity on their retirement planning. National Underwriter Life & Health (3/12) LinkedInFacebookTwitterEmail this Story
  • Assets under management jumped last year, report says
    Assets under management by U.S. and Canadian financial advisers rose in 2012, but their commissions and fees didn't keep pace, according to PriceMetrix. The average adviser's assets under management increased 9% to $80.8 million year-over-year. Their average revenue for the same period increased 2% to $550,000, while revenue on assets declined by 3%, according to the study. Financial Advisor online (3/12), The Wall Street Journal (3/12) 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.

  Policy Watch 
  • Lawmakers from both parties offer 10-year spending plans
    Rep. Paul Ryan, R-Wis., the House Budget Committee chairman, on Tuesday offered a 10-year budget plan that would partially privatize Medicare and repeal the Affordable Care Act. Senate Budget Committee Chairwoman Patty Murray, D-Wash., said a competing 10-year spending plan to be announced today would raise taxes by almost $1 trillion and put almost $100 billion toward creating jobs. The Washington Post (3/12) LinkedInFacebookTwitterEmail this Story
  • Senator urges CMS to address proposed Medicare Advantage cuts
    Sen. Marco Rubio, R-Fla., has called on the Centers for Medicare and Medicaid Services to reduce planned cuts to Medicare Advantage, saying the figure is built on faulty assumptions. "I am deeply concerned that if CMS fails to reverse its preliminary decision on this critically important issue, many MA enrollees may experience disruptions in their health care benefits and choices," Rubio said. The Hill/Healthwatch blog (3/8) LinkedInFacebookTwitterEmail this Story
  Building Your Business 
  • How advisers should target Gen X and Y clients
    Advisers should build business models that attract Generation X and Generation Y clients as well as the baby boomer generation, writes Michael Kitces. Models for younger investors can include assets-under-management models, assistance on an as-needed basis and services offered through low-cost monthly retainers. Nerd's Eye View blog (3/4) LinkedInFacebookTwitterEmail this Story
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  NAIFA News 
  • Complacency
    A March 5 NAIFA Blog post noted the favorable coverage that NAIFA's grassroots government-affairs program received in the March 1 issue of InsuranceNewsNet. NAIFA President Rob Smith addresses a phenomenon introduced in the article that can easily blunt any government-relations program -- complacency. Read more at the NAIFA Blog. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Humor is just another defense against the universe."
--Mel Brooks,
American actor and film director


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