Failing to review beneficiary designations on a regular basis can lead to unnecessary expenses and family tension after a client's death. Advisers should ensure that contingent beneficiaries are named and pay particular attention to situations involving divorce or trusts. For more planning ideas related to individual retirement accounts, check out this webcast recording featuring Bob Keebler, CPA/PFS.
The latest estimates suggest that the Social Security cost of living adjustment for next year will be around 2.8%. That would be lower than previous forecasts, which had predicted that the COLA would exceed 3%, but it would still be the highest figure since 2012. Access The Adviser's Guide to Retirement and Elder Planning: Social Security Planning (open to PFP/PFS Section members) for in-depth guidance on helping your clients plan for Social Security benefits.
Advisers are sometimes confronted with clients who challenge their pricing. Several strategies can help the situation, including providing a big-picture view of your services, offering temporary discounts and using a pay-as-you-go model.
Investors are showing a tendency to seek risky assets and to move away from Treasurys and the US dollar, says Alan Ruskin, Deutsche Bank's global co-head of foreign exchange research. On Thursday, the dollar declined 0.6%, while the 10-year Treasury yield reached 3.09%, the highest rate since May.
Teams value CEOs who make brave shifts in strategy and focus on developing team members, writes Cheryl Bachelder, former CEO of Popeyes Louisiana Kitchen. Employees also want clear statements about your principles and values, as well as seeing how you live those even when pressured to act otherwise, she writes.
For workers who can hardly wait to exit the workforce, there are ways to accelerate the arrival of retirement. Here are seven strategies to consider, including cutting spending, taking a second job and adjusting the investment allocation.
Here's an in-depth look at the recent Supreme Court decision eliminating the requirement that businesses have a physical presence in states before they must collect sales tax, the most significant development in this area in many years.