Senate bill proposes matching contribution for retirement savings | Whistleblower reports to SEC up 18% in fiscal 2018 | Clients can keep retirement on track by teaching kids about finance
November 16, 2018
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Senate bill proposes matching contribution for retirement savings
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.
Pensions & Investments (free access for SmartBrief readers) (11/15),  ThinkAdvisor (free registration) (11/15) 
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Policy Watch
Whistleblower reports to SEC up 18% in fiscal 2018
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.
ThinkAdvisor (free registration) (11/15) 
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Building Your Business
Clients can keep retirement on track by teaching kids about finance
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.
Financial Advisor online (11/15) 
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Marvel Universe can offer lessons in elder planning
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.
WealthManagement (11/15) 
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Financial Products
Report: Fiduciary rule cut sales of high-load mutual funds
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.
InvestmentNews (tiered subscription model) (11/15) 
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Retirement Focus
Survey: Americans losing confidence in retirement prospects
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.
PlanSponsor online (11/15) 
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Advisor: Societal taboos to blame for women's low retirement savings
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."
Financial Advisor online (11/15) 
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FSI Member News & Events
Bill Bachrach AdvisorRoadmap Virtual Training -- FSI member discount!
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.
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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,
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