Howard Sharfman, senior managing director at NFP Insurance Solutions, spoke during NAIFA's virtual Impact Week and offered nine ideas to help advisors build their life insurance practices. Among Sharfman's ideas were to ask clients about younger and older generations, discuss interest rates and new tax proposals, and integrate life insurance into retirement plans.
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Tax proposals working their way through Congress could have major implications for clients' tax and estate planning strategies, including the use of Roth IRAs. Experts discuss what is on the table and offer planning tips.
With members of Generation X in their 40s and 50s, now is an ideal time for this cohort to ensure they are on track for retirement. Boosting savings and being flexible are among the strategies that could benefit this age group.
Committing to environmental, social and governance goals can be a good way for insurers to attract top talent, build their customer base and solidify their reputation, writes Danielle Cagan of CSAA Insurance Group.
David Kelly, chief global strategist at JPMorgan Asset Management, says he expects continued stock market gains in 2022 but warns investors to focus on valuations. He adds that growth may be slower compared with this year, as a move by central banks to lower asset purchases is likely to affect liquidity. "This year is the year of momentum," Kelly said. "Next year will be the year of valuation."
Valkyrie, which launched the second futures-based bitcoin exchange-traded fund, has filed another application with the Securities and Exchange Commission to launch the Valkyrie XBTO Levered BTC Futures ETF. Valkyrie says the new fund would list on Nasdaq, be able to hold futures and options and deliver returns 1.25 times that of the bitcoin reference price.
Members of a National Association of Insurance Commissioners' group working on developing rules for insurers to transfer large blocks of businesses say in a white paper that long-term care insurance's reserve requirements may be too complicated for it to be included. The working group has formed its own subgroup to separately study transfer issues related to long-term care insurance.
Some financial advisors say the Securities and Exchange Commission's new rule allowing online testimonials puts them at a disadvantage because it does not allow them to share online reviews on sites such as Yelp and Google. Andre Jean-Pierre of Aces Advisors says this benefits unregistered people posing as financial experts "because they're not beholden to the same requirements that financial professionals are."