A bill sponsored by five Democratic senators seeks to authorize a 50% annual government match on up to $1,000 invested in a 401(k), IRA, 403(b) or 457(b) government retirement savings plan. If enacted into law, the Encouraging Americans to Save Act would also make the match available to participants in state and local government retirement programs such as OregonSaves.
The Securities and Exchange Commission's Office of the Whistleblower received 5,282 reports in fiscal 2018, an 18% increase compared with fiscal 2017, according to an SEC report to Congress. The agency paid $168 million to 13 whistleblowers in fiscal 2018, up from almost $50 million to 12 individuals in fiscal 2017.
One important factor in clients ensuring their retirement security is "empowering their kids to live financially fulfilling and independent lives," writes Greg Powell of Fi Plan Partners. He offers four tips on this topic for advisors to pass on to their clients.
David Lenok uses characters from Stan Lee's Marvel Universe to discuss issues surrounding elder planning and abuse. Lessons include the importance of guardianship decisions and leveraging technology to improve the lives of elderly clients.
After the US Labor Department proposed its fiduciary rule in 2015, brokers' sales of funds paying "unusually high excess loads" declined, according to a report from Morningstar. "This reduction in the distortionary effect of conflicted payments suggests that firms put in place effective policies and procedures to mitigate conflicts of interest in response to" the rule, the report said.
Despite a strong economy, Americans' confidence about retirement has declined, according to a survey from the Certified Financial Planner Board of Standards and Heart + Mind Strategies. More than 60% of survey respondents said it is more difficult to retire on time now than it was five years ago.
Societal taboos are part of the reason women have less retirement savings than men, argues Marguerita Cheng of Blue Ocean Global Wealth. Cheng discusses the idea of "money silence," saying it "prevents women from discussing money matters."
FSI has partnered with Bill Bachrach to bring our members a robust online virtual training platform packed with interactive training courses, videos, scripts, demonstrations and high-value resources to help you master the communication skills and repeatable processes that are crucial to acquiring and serving ideal clients. FSI members receive a $350 discount off the annual retail price offered to nonmembers. Learn more about this offer. Want to take a test drive? We are also offering a monthly webinar that explains the details of the program.
Self-knowledge is no guarantee of happiness, but it is on the side of happiness and can supply the courage to fight for it.
Simone de Beauvoir, writer and activist
FSI was formed in January 2004 as an advocacy and membership organization for
independent broker-dealers and independent financial advisors. We provide insight,
information, influence, and involvement--all in support of our mission to provide
visibility, credibility, and an improved regulatory environment for the independent
channel. Learn more at