Wealth Management
Top stories summarized by our editors
5/23/2018

An advisor with regulatory-related incidents on their record may be placed on a "heightened supervision" plan by their employer. Attorney Alan Foxman explains what such a plan may entail.

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Alan Foxman
5/23/2018

The Securities and Exchange Commission is asking for comments from firms and advisors on a standard-of-conduct package proposed in April, said Brett Redfearn, director of trading and markets. The regulator wants information on business practices "related to advice and how they would change in response to the proposal," he said.

5/23/2018

Allan Roth of Wealth Logic discusses 10 tactless-but-true things he tells clients that differentiate his firm and add value. These include that he cannot predict the future and asking clients whether it is their "goal to die the richest person in the graveyard."

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Allan Roth
5/23/2018

The Massachusetts Supreme Court ruled that state agencies can terminate contracts for cost-saving purposes if a contract contains a termination for convenience clause.

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JD Supra
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Massachusetts Supreme Court
5/23/2018

A surety company has stepped in to take over three road projects in Wyoming after the state removed the contractor because it was behind schedule on all three projects.

5/22/2018

The number of people who have saved $1 million or more in a 401(k) reached 157,000 at the end of the first quarter, a 45% year-over-year increase, according to recent data. Many benefited from the market's recent gains and also from saving over a long period of time and contributing enough to get the full match.

5/22/2018

For clients wondering whether to convert their individual retirement accounts to Roth IRAs, attorney Bruce Steiner says the tax law "may tip the scales in favor of converting substantial amounts now." He notes that a conversion could have particular benefits for middle-income IRA owners under the law.

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WealthManagement
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IRA
5/22/2018

There is no conflict between offering annuities to clients who would benefit from them and fully complying with a fiduciary standard, said Kent Sluyter, president of Prudential Annuities. "Annuities are not the answer for everybody, but they can play an important role in helping many people secure retirement income, which is important," he said.

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Prudential Annuities
5/22/2018

Investors close to retirement or already retired should consider buying annuities to shelter their savings from losses due to market volatility, says Mark Charnet, CEO of American Prosperity Group. With a living benefit rider, the retiree is guaranteed income for life even if the value of the assets held within the annuity contract declines in value, he says.

5/22/2018

Lincoln Financial Group has brought to the retirement market a new indexed variable annuity that offers a variety of indexes and optional protection from index-linked losses ranging from 10% to 100%. Purchasers of the Lincoln Level Advantage indexed annuity have the option of adding an income rider for a guaranteed lifetime income stream.

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Lincoln Financial Group, Lincoln