Social Security phone scams increasing in frequency, sophistication | Experts: 401(k) annuities call for due diligence by plan participants | N.J. passes senior financial exploitation law
January 21, 2020
Retirement Security SmartBrief
Financial and wealth management news for the retirement community
Top News
Social Security phone scams increasing in frequency, sophistication
Social Security phone scams are becoming more numerous and more sophisticated, with the administration's inspector general warning that telephone scammers are now also sending people official-looking documents via email. If there is a legitimate problem with your Social Security account, officials will almost always contact you via mail, Mary Beth Franklin writes.
InvestmentNews (tiered subscription model) (1/15) 
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Experts: 401(k) annuities call for due diligence by plan participants
With more annuity options likely to be included in 401(k) plans following the passage of the Setting Every Community Up for Retirement Enhancement Act, it is important for plan participants to do their due diligence, write retirement income experts William Byrnes and Robert Bloink. Among the things to consider before selecting an annuity option are fees and surrender charges.
ThinkAdvisor (free registration) (1/14) 
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N.J. passes senior financial exploitation law
New Jersey Gov. Phil Murphy signed a bill last week that requires qualified individuals to report suspected financial abuse of an elderly person. A qualified individual is defined as an advisor, agent or other person who is serving in a "supervisory, compliance, or legal capacity" for an advisor.
InsuranceNewsNet Magazine online (1/20) 
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Stock prices relative to earnings growth at record high
The price-earnings to growth ratio, which gauges whether a stock is properly valued, is at the highest reading since Bank of America tracking began in 1986. Anything above 1 indicates overvaluation, and the ratio is at 1.8.
CNBC (1/16) 
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Market Trends
Treasury to roll out 20-year bond
The Treasury Department will start selling a 20-year bond during the first half of this year. The product is being introduced to help with the budget deficit, which is expected to exceed $1 trillion this fiscal year and might continue at that level during the next 10 years.
The Associated Press (1/16) 
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Green ETF from BlackRock gets investment flood
Investors are responding favorably to BlackRock's emphasis on green investing. The company's iShares ESG MSCI USA exchange-traded fund, which focuses on environmental, social and governance criteria, received $1.15 billion Wednesday, a record one-day inflow.
BNN Bloomberg (Canada) (1/16) 
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Value, growth ETFs debut from iShares
BlackRock's iShares has brought to Cboe Global Markets exchange-traded funds that apply value and growth strategies to the Russell 1000 index through factor screens. The iShares Factors US Value Style ETF is linked to an index derived from the value version of the Russell 1000, while the iShares Factors US Growth Style ETF tracks the growth version of the index.
ETF (1/16) 
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On the Economy
Survey: More than half of CEOs expect global slowdown
An annual survey of CEOs by PwC finds 53% of respondents expect global economic growth to slow this year, up from 29% in the previous year's survey.
Reuters (1/20) 
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The Adviser-Client Relationship
FBI agent warns of latest big cyberrisk to businesses
Business email compromise is the latest cyberrisk that financial-services companies need to guard against, FBI Special Agent Michael Driscoll said during the 2020 FINRA Cybersecurity Conference. "Every business is getting targeted, from the smallest to the largest," he told attendees.
ThinkAdvisor (free registration) (1/15) 
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Accept clients' lifestyle choices to better serve them
Financial planners need to accept their clients and their life choices and serve them to the best of their ability, says Lauren Wolven of Levenfeld Pearlstein. This includes not making assumptions and using the right terminology when it comes to gender issues and nontraditional families, she says.
WealthManagement (1/16) 
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Tradition is the albatross around the neck of progress.
Bill Veeck,
professional baseball club executive, owner, promoter
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