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March 5, 2012
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Financial and wealth management news for the retirement community

  Top News 
 
  • Editorial: U.S. needs a solid definition of financial literacy
    Without a single standard for financial literacy, it's too difficult to measure progress toward the goal of a financially literate populace, according to this editorial. "Adopting a universal definition would give all those interested in making Americans smarter about investing and managing money a clear idea of what exactly is being discussed when the term 'financial literacy' is tossed about," the editorial states. InvestmentNews (free registration) (3/4) LinkedInFacebookTwitterEmail this Story
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  Industry Update 
  • Study: Men and women are working longer than their parents did
    Male baby boomers are working longer than their fathers did, but they probably will retire at about the same age as their grandfathers, a paper from the Center for Retirement Research at Boston College indicates. Women in the baby boomer generation are staying in the workplace longer than either their mothers or grandmothers did, the researchers found. CBS MoneyWatch (3/5) LinkedInFacebookTwitterEmail this Story
  • Expert: Retiree cash-flow decisions should involve control, safety
    A range of strategies to address the key issues of income, safety and control can help secure cash flow for retirees, writes Craig Brimhall of Ameriprise Financial. These strategies include systematic withdrawals from a diverse portfolio as well as variable annuities with guaranteed-minimum-income benefit riders. InvestmentNews (free registration) (3/4) LinkedInFacebookTwitterEmail this Story
  • Reform group says New York pension costs are up fivefold since 2002
    A bipartisan group, New York Leaders for Pension Reform, said New York City's pension fund costs have soared fivefold since 2002 and the system needs to be changed. By 2013 pensions will account for 28% of what New York spends on its workforce, the coalition of mayors and county executives said. Bloomberg (3/4) LinkedInFacebookTwitterEmail this Story
  Financial Literacy 
  • Opinion: Ohio students need financial-literacy, economics courses
    Ohio is not among the states that make financial-literacy and economics courses mandatory for high-school students. As a result, Ohio students are at risk of being unprepared to make financial decisions, writes Julie Heath of the Economics Center at the University of Cincinnati. "When economics and financial education are not adequately presented in the schools, it results in unfortunate consequences for families and communities for generations to come," Heath writes. The Cincinnati Enquirer (3/4) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  Building Your Practice 
  • Fee disclosure can turn advisers into coaches, expert says
    Advisers who go beyond simply disclosing their fees and fiduciary responsibilities can use the new disclosure rules to transform themselves into "fiduciary coaches" and win more business, writes Blaine Aikin, chief executive officer of fi360. "In that role, the adviser is positioned to promote better plan governance, improve outcomes for plan participants, and expand and deepen his or her own business relationships," Aikin writes. InvestmentNews (free registration) (3/4) LinkedInFacebookTwitterEmail this Story
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