Industry News
Wealth Management
Top stories summarized by our editors
9/24/2021

Legislation introduced this week looks to establish "universal, portable" investment and retirement accounts. The accounts would supplement rather than replace existing 401(k), IRA and other accounts, said Rep. Jim Himes, D-Conn., and Sen. Mark Warner, D-Va., who introduced the Portable Retirement and Investment Account Act of 2021.

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Sen. Mark Warner
9/24/2021

Getting to know spouses as individuals is a good way to create lasting relationships when working with married couples, writes Kelly Straub of Merit Financial Advisors. Straub describes this and other approaches that can help cement strong relationships between advisors and married clients.

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Financial Advisor
9/24/2021

Financial advisers are part of a noble profession because they have the ability to change people's lives through good advice, writes Jamie Hopkins of Carson Group. On the other hand, Hopkins writes that advisers must do a better job reaching those who most need their help.

9/23/2021

Black, Hispanic and Asian Americans cited unaffordable health care and the rising cost of living as their chief retirement worries, according to a survey by Allianz Life. The survey also looked at why these groups are less likely than white Americans to work with a financial advisor.

9/23/2021

The North American Securities Administrators Association has conducted an exam sweep that found 58.5% of state-registered investment advisors lack policies and procedures for addressing financial exploitation of elderly clients. "Our hope is that this data will foster greater and earlier detection and reporting of suspected financial exploitation of older Americans," NASAA President Lisa Hopkins said.

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Lisa A. Hopkins
9/23/2021

The coronavirus pandemic accelerated the shift to digital and altered consumers' expectations about the convenience of online products and services, consultant Angie Herbers writes. To remain relevant to clients, financial advisors must stay ahead of digital trends and adopt technologies such as calendar enhancements, time-tracking software and better planning software, Herbers writes.

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WealthManagement
9/23/2021

CSRA Opportunity Zone Fund VI, the sixth such fund introduced by Capital Square, has a goal of $48.5 million in fundraising from accredited investors for a multifamily property with ground-floor commercial space in Raleigh, N.C. The 20-story property will have 297 apartments and a stand-alone facility with 437 parking spaces.

9/22/2021

Contractors are facing an influx of False Claims Act investigations, says an attorney who serves on the NASBP Attorney Advisory Council. The increase is partly because of the government's effort to clear a backlog of cases resulting from the coronavirus pandemic, and new cases are emerging amid a focus on enforcement related to the Coronavirus Aid, Relief and Economic Security Act, he says.

9/22/2021

A surety will complete a $2.5 million Ohio road intersection safety project after the contractor defaulted last month. The contractor also has defaulted on other projects in the state.

9/22/2021

Contractors participating in Small Business Administration programs must remain attentive toward meeting requirements such as limitations on subcontractors and work-performance requirements for joint ventures, an attorney writes. Failure to do so can increase the risk of False Claims Act liability, she writes.

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JD Supra
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SBA