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January 3, 2013
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Financial and wealth management news for the retirement community

  Top News 
  • Study: High automatic 401(k) deferral rates may hurt participation
    Employers who set high default deferral rates in an attempt to compel worker participation in 401(k) plans may find the results disappointing, according to a study by the Center for Retirement Research at Boston College. While plans with automatic enrollment and escalation have been successful, high deferral rates could lead participants to promptly decrease their deferrals, the study found. Group demographics play a role, particularly in the case of low-income workers who were "nudged" to invest their income-tax returns rather than spend them, researchers said of an experimental project involving a savings-bonds program. BenefitsPro.com (1/2) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • New 401(k) professional certification is available
    The Retirement Advisor University has partnered with the University of California, Los Angeles, to offer the Certified 401(k) Professional Designation. Advisers who manage 10 defined-contribution plans with $30 million in plan assets and have at least three years of experience can qualify for the designation. Financial Advisor online (1/2) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Literacy 
  • How to teach children to manage allowances online
    Opening an online account for children is an efficient way to teach money-management and saving skills, Ann Carrns writes. Opening a "sub account" under a parent's bank account allows parents to transfer money into a child's account easily and sets the stage for regular conversations about the balance. "We can discuss goals they want to save for, whether for a personal item or a charitable donation. And before any cash withdrawals are made, we can discuss what it's going to be used for, and whether it's a good use of their funds," Carrns writes. The New York Times (tiered subscription model)/Bucks blog (1/2) LinkedInFacebookTwitterEmail this Story
  • Other News
  On the Economy 
  Building Your Practice 
  • Advisory councils can bring new ideas, referrals
    Making clients part of an advisory council for your business can bring important feedback and encourage members to make referrals, says Brian Sweet, CEO of Sweet Financial Services. Advisory council meetings are best conducted by an outside leader to get the best feedback, Sweet says. Financial-Planning.com (1/2) LinkedInFacebookTwitterEmail this Story
  Financial Products 
  • Merrill Lynch sells nontraded REIT, citing mass-affluent demand
    Bank of America Merrill Lynch is selling Jones Lang LaSalle Income Property Trust, a nontraded real estate investment trust. The offering marks the first time a major wirehouse has sold a nontraded REIT. "We believe there is significant demand for an attractive, direct core real estate investment product among mass-affluent investors," Merrill Lynch's Keith Glenfield says. InvestmentNews (free registration) (1/2) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
Trust only movement. Life happens at the level of events, not of words."
--Alfred Adler,
Austrian medical doctor and psychotherapist


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