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February 15, 2013
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Financial and wealth management news for the retirement community

  Top News 
  • Study: 401(k) providers are slow to drop their own lagging funds
    Poor-performing funds are more likely to remain in a 401(k) plan if they are managed by the company operating the plan, a research report says. Plan trustees have competing interests -- investors' returns and their own proprietary funds, according to the researchers from the University of Indiana and the University of Texas. MarketWatch/Encore blog (2/13) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • States, insurance companies partner for long-term care
    Aging baby boomers soon will face the high costs of long-term care, but few Americans have long-term-care insurance. The burden for those who cannot afford care falls to states, which pay for Medicaid. Many states are partnering with insurance companies in plans that allow seniors with long-term-care insurance to qualify for Medicaid without losing their assets if their costs exceed insurance coverage. The idea is to get more people to purchase insurance. Medill Reports (Northwestern University) (2/14) LinkedInFacebookTwitterEmail this Story
  • SEC to seek comments, weigh fiduciary standard, Walter says
    The Securities and Exchange Commission will seek public comments as it gives "serious consideration" to implementing a uniform fiduciary standard for broker-dealers and investment advisers, SEC Chairwoman Elisse Walter told the Senate banking committee. The agency is drafting the request to gather data, Walter said. "The request aims to seek information from commenters -- including retail investors, as well as industry participants -- that will be helpful to us as we continue to analyze the various components of the market for retail financial advice," she said. AdvisorOne (2/14) LinkedInFacebookTwitterEmail this Story
  Financial Literacy 
  • How to multiply the benefits of a tax refund
    Retirement investors can use tax refunds to increase their IRAs and get even more tax breaks, experts say. Other tax-advantaged strategies include using the money for home improvements that qualify for tax credits from the Energy Department, and replacing a mortgage escrow account that pays for property taxes and insurance. "The goal is not just to save it, but to make your refund pay you back," TD Ameritrade's Carrie Braxdale says. CNBC (2/13) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Financial advisers add career counseling to their client services
    Some financial advisers are extending their professional advice to include management of clients' careers, which they say can affect the makeup of an investment portfolio. Many clients in their 50s and 60s are dissatisfied with their jobs and retirement plans, and clients in less-stable occupations may require a more conservative portfolio, advisers say. "For a lot of people, their career is the most valuable asset they have," says Gary Silverman of Personal Money Planning. The Wall Street Journal (2/14) LinkedInFacebookTwitterEmail this Story
  Financial Products 
  • More advisers favor life insurance for college savings
    Life insurance with a cash balance that can be withdrawn for college expenses is becoming increasingly popular with financial advisers who are helping parents prepare to pay for higher education. A survey by Financial Research found that in 2012, 29% of advisers recommended life insurance for college savings, compared with 23% in 2011 and 21% in 2009. InvestmentNews (free registration) (2/14) LinkedInFacebookTwitterEmail this Story
In order that people may be happy in their work, these three things are needed: They must be fit for it; they must not do too much of it; and they must have a sense of success in it."
--John Ruskin,
British art critic

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