Wealth Management
Top stories summarized by our editors
4/24/2018

Fifty percent of current retirees did not attempt to determine the costs of health care prior to retirement, and more than 40% say health care expenses are higher than they imagined, finds a survey by the Employee Benefit Research Institute and Greenwald & Associates. The 2018 Retirement Confidence Survey also found that 80% of retirees are confident they can cover basic expenses, down 5 percentage points from 2017.

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WealthManagement
4/24/2018

Lower individual income-tax rates as a result of the new tax law make Roth individual retirement accounts more attractive than they previously were, retirement experts say. "For anyone who is going to contribute just on straight math, Roth IRAs are a much better purchase right now than traditional [IRAs]," says Greg Hammer of Hammer Financial Group.

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NerdWallet
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Arielle O'Shea
4/24/2018

Analysts at Cannex Financial Exchanges looked at how participation caps and other common indexed-annuity characteristics affect returns. Their analysis showed rate caps had a big impact on how annuities performed for their owners.

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CANNEX Financial Exchanges
4/24/2018

A number of positive factors suggest annuity sales will increase in 2018, says Jack Marrion, president of insurance consulting firm Advantage Compendium. Among the factors pointing to an annuity revival are rising interest rates, stock market volatility and favorable regulatory decisions, he says.

4/24/2018

Boise Cascade said it will transfer approximately $150 million of pension liabilities to a group annuity to be purchased from Prudential Insurance Co. of America. Retirees whose benefits are being transferred will start receiving payments from Prudential on July 1.

4/24/2018

Some financial advisors are talented at the technical aspects of advising but lack a business mindset, which presents a big obstacle to a successful practice, writes Stephanie Bogan, CEO of Educe. "Whether you are a sole proprietor or a partner in a larger firm, your mindset determines your level of business mastery," she writes.

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Stephanie Bogan
4/24/2018

The Financial Industry Regulatory Authority has proposed letting it find an advisor guilty of churning, or excessive trading in a client's account, even if the advisor has no discretionary authority over the account. Requiring advisor control imposes "a heavy and unnecessary burden on customers," FINRA said in a regulatory notice.

4/24/2018

A family office can fill noninvestment roles to contribute to building consensus and setting values among family members, suggests Daniel Berick of Squire Patton Boggs. Establishing an information hub and offering ancillary services are two of five ways he suggests adding value for clients.

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WealthManagement
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Squire Patton Boggs
4/24/2018

The National Institute on Retirement Security reports women are 80% more likely than men to live in poverty once they reach retirement age. Retirement expert Mitch Tuchman argues that the retirement system "ultimately lets women down" because it was originally designed to serve the male workforce.

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MarketWatch
4/24/2018

Forbes highlights 25 locations across the US it deems the best for retirees based on affordability and quality of life. In addition to money-related characteristics such as median home prices and the cost of living, Forbes considered things like air quality and walkability.

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Forbes
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Forbes