Wealth Management
Top stories summarized by our editors
11/13/2018

The Center for Economic Justice said a proposal being considered by the National Association of Insurance Commissioners Annuity Disclosure Working Group could lead to misleading information about the performance of indexes used by annuities. The proposal would allow the use of illustrations of the performance of indexes less than 10 years old in connection with the sale of indexed annuities.

11/13/2018

Great American Life Insurance's Index Protector 7 contract, a fee-based indexed annuity, is being added to the RetireOne life insurance and annuity exchange program. The contract will be available to fee-based advisors and registered investment advisors.

11/13/2018

The IRS has published a notice of proposed rulemaking to amend 401(k) hardship-withdrawal rules. Among proposed changes are permitting hardship withdrawals under more scenarios and allowing plan sponsors to permit withdrawal of nonelective and matching contributions, as well as earnings on them.

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PlanAdviser online
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IRS
11/13/2018

If a regulatory examiner wishes to speak with a business, "it would almost certainly be arranged through your supervisor or compliance officer beforehand," writes attorney Alan Foxman. He says it is acceptable to explain to callers that their identities need to be verified before providing them with information.

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Alan Foxman
11/13/2018

Consultant Michael Goldberg details what he considers to be five networking "musts" for advisors. They include having a specific purpose, communicating powerfully and staying in touch.

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Michael Goldberg
11/13/2018

A Morningstar study of 10 large health savings account plans found that investment quality and design have improved from last year. However, the study found that many HSA plans continue to have high fees and do a poor job of fee disclosure.

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PlanAdviser online
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Morningstar
11/13/2018

Technology editor Suleman Din highlights eight digital tools he says could play an important role in the future of the financial advisory industry. These include voice devices, health and wellness tools, and virtual reality.

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Suleman Din
11/13/2018

Advisers can make excellent and productive habits a part of their daily behavior by creating conscious activities, creating consistent activities and creating accountability for activities, writes Daniel Finley of Advisor Solutions. He provides a step-by-step approach to making practice perfect and permanent and constantly evaluating your habits so they become excellent.

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Daniel C. Finley
11/12/2018

The US Federal Reserve's inaugural Supervision and Regulation Report found that more than 40% of large US banks failed to "meet supervisory expectations in certain risk-management areas." The report also showed the banking sector's profitability was at a 10-year high.

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US
11/12/2018

There has been little change in the pace of enforcement actions by the Department of Labor under President Donald Trump, say attorneys who specialize in matters related to the Employee Retirement Income Security Act. They say the department's focus has remained on broad regulations and going after retirement-plan sponsors for delinquent contributions or inadequate fee disclosures.