The financial-services industry is more susceptible to bad publicity from data breaches than other sectors, according to a report from eMoney Advisor. The report says that the average breach at a financial company costs almost $7 million and that attacks are increasing, with 25% of firms hit in 2017, up from 20% in 2016.
Retirees should consider including immediate fixed annuities in fixed-income investments, Steven Goldberg writes. The annuities provide guaranteed income for life and "pay a lot more than all but the riskiest bond funds," he writes.
A study from IonTuition finds 66% of people want the ability to put retirement matching contributions toward student-loan repayment, up from 49% a year ago. Many people feel as though they have to choose between making loan payments and saving for retirement, experts say.
The Occupational Safety and Health Administration has fined contractors a total of $86,858 in connection with worker-safety citations stemming from the Miami pedestrian bridge collapse that left six people dead in March. OSHA stated that the contractors failed to take sufficient measures to safeguard their employees from crushing and fall hazards.
The Federal Aviation Administration has given State Farm approval to fly drones over four states to evaluate damage caused by Hurricane Florence. This is the first time an insurer has received FAA permission to fly drones at long distances and above populated areas.
Shane Westhoelter, CEO of Gateway Insurance and Financial Services and a speaker at NAIFA's annual conference, discusses marketing to multigenerational clients. "I think one of the mistakes a lot of advisors make today is that they want to become product experts," he says, noting buyers are more focused on concepts than on individual products.
Storms caused flooding in the Twin Cities and damaged properties in southern Minnesota, where at least four tornadoes were reported on Thursday.
Geologists and developers are at odds over construction along coastal areas such as North Carolina's Outer Banks, where Hurricane Florence served as a reminder of the barrier islands' property risk even as the area avoided the worst of the storm. Experts also are concerned that mountainous areas inland could see flooding and landslides from a storm like the one that hit the Appalachians in 1940, when the area was much less developed.
The Securities and Exchange Commission wants to hear from a wide range of market participants at a roundtable on protecting retail investors from fraud. The event is scheduled for Wednesday at the SEC's headquarters in Washington, D.C.
A 14-year study by RAND examined older Americans' employment and retirement decisions in conjunction with personality and cognition tests. The study found connections between retirement decisions and cognitive ability, extroversion, conscientiousness and agreeableness.