Wealth Management
Top stories summarized by our editors
8/23/2017

Weekly team meetings are often viewed as unproductive and an unnecessary drain on employees' time, but wealth planner Michael Kitces argues they can be a dynamic part of a firm's activities if conducted effectively. He reviews entrepreneurship expert Gino Wickman's checklist for the "90-minute meeting fix" and offers some tweaks of his own.

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Michael Kitces
8/23/2017

Many parents who send their children to college for the first time may not be prepared for the financial ramifications and pitfalls, writes advisor Kevin McKinley. He sets out 10 practical steps advisors should ensure clients who are in this position are taking.

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WealthManagement
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Kevin McKinley
8/23/2017

Large engineering firms have an opportunity to make acquisitions and obtain capabilities to benefit from the public sector's increased use of design-build projects and public-private partnerships, an analyst says.

8/23/2017

The New York Department of Financial Services has re-established a requirement that mortgage servicers post a surety bond and obtain errors-and-omissions insurance. The minimum bonding requirement is $250,000, while E&O insurance required is based on a servicer's aggregate dollar volume of business conducted two years before.

8/23/2017

The International Society of Certified Employee Benefit Specialists published a report taking a look at the best-interest contract exemption, one of the most widely debated provisions of the Labor Department's new fiduciary rule. The report includes information on what is required of a plan sponsor or advisor acting as a fiduciary under the BICE.

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PlanAdviser online
8/23/2017

The IRS has released model amendments that defined benefit retirement plan sponsors can use if they want to offer participants partial annuity distribution options. The IRS revised its regulations to encourage plan sponsors to offer annuities to protect participants from the financial risks of unexpected longevity.

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PlanSponsor online
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Internal Revenue Service
8/23/2017

Fred Reish, a lawyer with Drinker Biddle & Reath, reviews the types of retirement plans and arrangements that must comply with the Labor Department's fiduciary rule and those that are not covered by it. "It's more complicated than you might think, in the sense that some of the covered plans may surprise you," he writes.

8/23/2017

Lack of a succession plan is one of the main reasons few family businesses are passed on to the next generation, writes Sumer Rose-Nolen. She contends that laying the groundwork for succession years ahead of time is important regardless of whether you're passing the firm to family members, key employees or an outside third party.

8/23/2017

Small businesses that start their retirement savings plan with a simplified employee pension may reach a point where it would be advantageous to convert it to a 401(k) to meet the sponsor's targets. Robert Bloink and William Byrnes discuss the right moment to make the switch and the practicalities of doing so.

8/23/2017

For older workers who need or want to remain in the workforce, perhaps making a career switch rather than retiring, it pays to hone the skills employers will find desirable. Kerry Hannon, a jobs expert with AARP, places tech skills at the top of that list, including an understanding of social media.

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MarketWatch
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Kerry Hannon, AARP, social media