Wealth Management
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8/13/2018

Data released by the Commodity Futures Trading Commission on Friday show money managers' net-short position in copper at its highest point since 2016, although experts said a potential strike at a mine in Chile is a source of concern. Last year, the market was net-long on copper as a 44-day strike began at the mine.

8/13/2018

The use of hedge fund, private equity and real estate allocations in target-date funds can help investors improve retirement income and reduce volatility, says a report from Willis Towers Watson and Georgetown University's Center for Retirement Initiatives. The best-case scenario shows a fully diversified target-date fund producing $94,000 annually during retirement for every $100,000 of an investor's yearly pre-retirement income, compared with $77,000 annually per $100,000 in pre-retirement income if only traditional asset classes are used.

8/13/2018

The IRS said recently that audits by its large-business and international division will place greater attention on virtual currencies, although tax attorney Clay Littlefield said "there is still a lot of uncertainty about how the IRS will come down" on the topic. Many hedge funds hope the IRS agrees with the Commodity Futures Trading Commission's assertion that many virtual currencies are commodities, and they are taking steps to reduce tax liabilities in the space.

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Yahoo
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IRS
8/13/2018

The National Association of Insurance Commissioners' Annuity Suitability Working Group continues to work on a proposed rule revision regarding the illustration of indexed annuities that utilize indices that been in existence for less than 10 years. Mike Yanacheak, the working group's chair, said a conference call on the issue is expected to take place in September.

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NAIC
8/13/2018

Cash-balance retirement plans are becoming more common in the US, according to research by consulting firm October Three, which shows that roughly a third of the 45,000 single-employer defined benefit plans have this options. One feature of cash-balance plans is that they allow sponsors to provide annuities directly through the plan.

8/13/2018

For savers who won't need access to their funds for more than two years, a multiyear guaranteed annuity is often a better choice than a bank certificate of deposit, writes Elliot Raphaelson. One advantage of this type of annuity is that taxes on the interest paid by the annuity are deferred until the funds are paid out, he writes.

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Elliot Raphaelson
8/13/2018

The American Retirement Association sent a letter to the Employee Benefits Security Administration seeking clarification about 401(k) plan advisors offering advice about rollovers. The Labor Department's fiduciary rule had clarified the issue, but its demise has put advisors in a "legal gray area" regarding rollover advice, the group says.

8/13/2018

Financial advisors' spouses can help them drum up new business, writes Bryce Sanders of Perceptive Business Solutions. He offers four examples of how wives or husbands can help their spouses make connections with potential clients.

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Bryce Sanders
8/13/2018

Although GOBankingRates' 2018 Retirement Savings survey showed the percentage of Americans with nothing saved for retirement fell from the previous year, it still pointed to undersaving. Forty-two percent of those surveyed said they had less than $10,000 saved for retirement.

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GOBankingRates
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GoBankingRates
8/13/2018

Preretirees are underestimating how costly their health care will be, expecting it will eat up about 15% of their Social Security benefits, according to a Nationwide survey, while predictions put the number at closer to 64%. Options to help offset health care costs include health savings accounts and supplemental Medicare policies.

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The Motley Fool