Help clients keep credit intact through tough life transitions | Real leaders share similar traits | Here's how to improve the trust needed for true teamwork
November 12, 2019
FPA SmartBrief
A digest of news and industry updates for the financial planning community
Top Story
Help clients keep credit intact through tough life transitions
Big life transitions are inevitable but the financial hardships that sometimes come along with them don't have to be, writes Marquette Payton, CDFA®, associate retirement director for the Defined Contribution and Wealth Advisor Services Team at Janus Henderson Investors. She offers four steps advisers can follow to "help a client avoid making hasty decisions that could affect their financial security."
FPA Practice Management Blog (11/7) 
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Q3 2019 CIO Review and Outlook
Matthews Asia CIO and Portfolio Manager Robert Horrocks, PhD, considers economic and investment trends affecting Asia's markets including: U.S.-China relations, the outlook for global economies, and navigating a slowdown in global growth. Watch the video.
Practice Management
Real leaders share similar traits
Bosses micromanage people while leaders share vision and set direction and let employees maximize their own talents, says leadership expert Scott Miller. Among the traits he cites in good leaders are emphatic listening and modeling the right way to treat people.
ThinkAdvisor (free registration) (11/7) 
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Here's how to improve the trust needed for true teamwork
Building trust within a financial firm or other organization can improve overall results and lead to more external trust, Matt Oechsli writes. To build trust, he recommends an exercise in which managers do thoughtful acts for every team member and track the results.
WealthManagement (11/7) 
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7 must-have business skills for advisers
Every adviser should have seven essential business skills, including time management, goal setting and networking, consultant Jim Rohrbach writes. These skills will help advisers mentally prepare and allow them to "engage the marketplace," he writes.
Advisor Perspectives (11/6) 
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Traditional marketing techniques still have value, expert says
Most financial advisers will benefit from a mix of online and traditional marketing methods, consultant Crystal Butler writes. She reviews six traditional marketing methods that remain effective, including face-to-face networking, direct mail and local media coverage.
Advisor Perspectives (11/6) 
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Should I Stay or Should I Go?
The fact is, 70% of people over 65 will need some form of long-term care during their lives. Gaining a basic understanding about the available options can help you help your clients have the difficult discussion of where their parents will live.
Policy Watch
Fed must consider climate change risk, governor says
The Federal Reserve must look at what has to be done to preserve the resilience of the financial system in the face of climate change risk, Governor Lael Brainard says. "It will be important for the Federal Reserve to take into account the effects of climate change and associated policies in setting monetary policy to achieve our objectives of maximum employment and price stability," she says.
Reuters (11/8) 
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Advisers hit by SEC stand-alone enforcement actions
Advisers and investment firms accounted for 36% for the Securities and Exchange Commission's stand-alone enforcement actions in fiscal 2019, the SEC says in an annual report. Broker-dealers accounted for 7% of stand-alone enforcement actions.
ThinkAdvisor (free registration) (11/6) 
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Some TDF conflicts of interest not disclosed, SEC says
Some target-date funds do not adequately disclose to investors conflicts of interest that arise from use of affiliated funds and advisory firms, according to the Securities and Exchange Commission. The SEC says it has uncovered the problem in a review of more than 30 TDFs.
InvestmentNews (tiered subscription model) (11/7) 
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4 Practices to Elevate Your HSA Communications
Learn how to increase employee engagement with your Health Savings Account (HSA) program through simple, proven best practices that will strengthen your HSA communications. Get the white paper.
Industry Report
Report: More than one-third of advisers could retire within 10 years
Thirty-seven percent of financial advisers are projected to retire over the next decade, according to a report by Cerulli Associates. The report also found that nearly one-fourth of advisers who expect to retire in the next 10 years have no succession plan.
Financial Advisor online (11/5) 
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IRA expert: Opportunity cost not a consideration in Roth conversion
There is no such thing as opportunity cost when converting a traditional IRA to a Roth IRA, writes IRA expert Ed Slott. The only key consideration in making the conversion is whether it will save on taxes in the long run, he writes.
InvestmentNews (tiered subscription model) (11/5) 
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Pension plans increasingly move into stocks
State and local pension plans had a median 47.3% of assets invested in US stocks at the end of the third quarter, according to Wilshire Trust Universe Comparison Service, an increase from 44.1% in Q3 of 2018 and the highest level since 2007. A need to compensate for shortfalls in numerous pension funds is cited as the main driver.
The Wall Street Journal (tiered subscription model) (11/5) 
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401(k) plans not reaching potential, study says
A study published by the Center for Retirement Research at Boston College finds 401(k) plans are falling short of their potential. The main reasons cited for people saving less than expected are that 401(k) plans are relatively new and that not all companies offer them.
Los Angeles Times (tiered subscription model) (11/5) 
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FPA News
Advisory Firms in 2030: The Innovation Imperative
Most financial planners are too caught up in the now to look ahead to tomorrow, much less five or ten years from now. Join SEI and FPA for the "Advisory Firms in 2030: The Innovation Imperative" webinar on Nov. 18 at 4 p.m. ET to gain insight into how our profession is -- and isn't -- anticipating evolving client needs. Register now.
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Are you ready for the right health plan?
The FPA Group Health Plan, created and delivered in partnership with Ryan Insurance Strategy Consultants (RISC), is available exclusively to FPA members and their employees, and is designed to meet your firm's health insurance needs while minimizing costs. Plans are available in most states for groups of 2-50, with rates approximately 25% lower than comparable ACA plans. You can start saving now! Learn more.
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