There are several estate-planning lessons advisors can learn from the controversy surrounding 95-year-old Marvel creator Stan Lee's $50 million estate, which is reportedly the target of financial predators. Experts say helping clients consolidate financial accounts, place assets in a revocable trust and carefully choose responsible trustees can help prevent elder abuse.
MetLife's latest Employee Benefit Trends Survey found that 53% of workers are anxious about their financial futures. Among the same group, 46% said financial decisions left them feeling overwhelmed.
Hedge funds are again pursuing short-volatility trades through strategies focused on factors including correlation and price swings in mutual funds and bond markets, experts say. Commodity Futures Trading Commission data show the net-short position in Cboe Volatility Index futures has reached its greatest level since Jan. 30, just before a severe market correction occurred.
Cryptocurrency-focused hedge funds' performance has declined 35% so far in 2018 and 17% in May, despite improving 45% in April, the HFR Blockchain Composite shows.
Hedge funds are carefully returning to investments in Italian stocks after concerns over the country's government caused market turmoil in late May. Some funds also have resumed activity in Italy's bond market, although the rebound has been slower than in equities.
Data from the Commodity Futures Trading Commission show that money managers' net-long position in bullion rose 11% in the week ended Tuesday, just one day before the Federal Reserve indicated it could raise interest rates more times than expected in 2018. In the week ended Friday, gold futures for August delivery fell for the second time in three weeks as they declined 19% on the COMEX.
The industry consensus is that sales of variable annuities have bottomed out, with sales in the first quarter hitting the second-lowest level since 1999, Cyril Tuohy writes. Worries about the Securities and Exchange Commission's best-interest rule could prevent sales from increasing much.
The Carlton Fields law firm compares the Regulation Best Interest proposed by the Securities and Exchange Commission with the Labor Department's fiduciary rule, which was struck down by the 5th US Circuit Court of Appeals. The firm also looks at the potential effect of the best-interest proposals on annuity sales transactions.
A study by OppenheimerFunds aimed at looking for generational differences found a disconnect between investors and advisors, as well as a disconnect among generations. Among the study's key findings were that what clients want and what advisors think they want are often misaligned, advisors see more family conflicts than clients will admit to, and that wealthy families aren't making financial education a priority.
Married women often retire at the same time as their husbands, according to the National Bureau of Economic Research, despite longer average life spans and the fact they may have been employed for less time. This has contributed to a significant gender gap in Social Security wealth, which could be eliminated if married women work through their 60s, says the report's author, Nicole Maestas.
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