Wealth Management
Top stories summarized by our editors
7/16/2019

Millennial advisers can learn from watching their baby boomer predecessors as they approach retirement age but choose not to retire, writes Joni Youngwirth, the managing principal of practice management at Commonwealth Financial Network. She advises emerging advisers to stay well-rounded outside of work and to hire and delegate to smart coworkers, among other advice.

7/16/2019

Robert Pozen, a senior lecturer at the MIT Sloan School of Management, explains how 401(k) plan sponsors can encourage participants to buy annuities. His suggestions include offering longevity annuities.

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MarketWatch
7/16/2019

The popularity of fee-based annuities has increased, but if an advisor takes a fee from a nonqualified annuity, the transaction counts as a taxable event for the annuity's owner. Taking the fee from an account outside the annuity offers a workaround.

7/16/2019

Retirees with a large amount of home equity can use a home equity conversion mortgage to pay for long-term care, advisor Bill Schmick writes. Rather than receiving a monthly payment immediately, the money can earn interest in an account at the mortgage company until it is needed.

7/16/2019

Advisors are working to help retirees cope with what is expected to be the first interest-rate cut by the Federal Reserve in a decade. Advisors offer suggestions, including to avoid making a big move into high-risk investments just to get higher yields.

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Federal Reserve, Fed
7/16/2019

Advisory firms may need to rethink their career progression tracks to better accommodate millennials, who "are simply not wired to wait as long as previous generations of advisors did to excel in their careers," writes consultant Kelli Cruz. The challenge, notes Cruz, is striking an appropriate balance between learning and realistic expectations for advancement.

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Kelli Cruz
7/16/2019

Financial advisors with an established practice need to bring in $6 million to $10 million a year in new assets to offset shrinkage of assets, writes Noel Swain of ProVest Wealth Advisors. Referrals can lead to some growth, but advisors also will need to prospect for clients and may even need to consider acquisitions, Swain adds.

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Advisor Perspectives
7/16/2019

Nearly 30% of US parents and grandparents have assisted younger family members with a real estate purchase, and 54% of those who did took the funds from their retirement savings, according to a survey by Legal & General. The survey also showed many parents do not seek advice from financial experts before making such decisions.

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Nigel Wilson
7/16/2019

Mistakes retirees make can wind up costing them hundreds of thousands of dollars over time, writes Selena Maranjian. She looks at seven common missteps, including not signing up for Medicare on time, failing to take required minimum distributions and not accounting for long-term-care costs.

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The Motley Fool
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Selena Maranjian, Medicare
7/15/2019

Investment managers specializing in socially responsible investing have attracted a net $8.4 billion in the first half of the year, according to Morningstar data, already topping last year's annual record of $5.4 billion.

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Morningstar