Industry News
Wealth Management
Top stories summarized by our editors
1/14/2022

Older Americans would benefit from more guidance when making key financial decisions such as when to claim Social Security, according to a report from the Senate Aging Committee. Data suggests that some people have limited planning horizons or lack financial literacy.

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Senate Aging Committee
1/14/2022

American Life & Security Corp. is offering fixed-indexed annuities linked to the S&P 500 ESG index, a product that could appeal to socially conscious investors. Meanwhile, Security Benefit has expanded fund menus for its variable annuities, and Great American Life Insurance is offering fixed annuities targeting RIAs.

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Security Benefit
1/14/2022

The past year broke records in terms of mergers and acquisitions involving advisory firms, and there is reason to believe that momentum will continue in 2022, writes Dave Barton of Mercer Advisors. The number of buyers in the market has increased in recent years, making it even more important for sellers to prioritize cultural fit when doing deals, Barton writes.

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Financial Advisor
1/14/2022

A recent case before the US Court of Appeals for the 7th Circuit sheds light on the claim-of-right doctrine. The case involves a trustee's unauthorized sale of stock in a grantor trust and subsequent purchase of shares of the same stock after discovering the error.

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JD Supra
1/14/2022

Once the Federal Reserve winds down its bond-buying program, possibly in March, the Fed could be ready to proceed with interest-rate hikes, said Lael Brainard, who has been nominated by President Joe Biden to serve as the Fed's vice chair. Meanwhile, Biden has reportedly chosen three more people to serve on the Fed's Board of Governors.

1/14/2022

Many advisors have entered 2022 with a set of business-development goals for the new year, but certain obstacles can make these objectives more difficult to achieve. Overcome stumbling blocks by looking more deeply into your motivation and avoiding overly ambitious targets that set the stage for disappointment, writes Sarano Kelley of The Kelley Group.

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Financial Advisor
1/14/2022

A diagnosis of Parkinson's disease, Alzheimer's disease or other long-term conditions requires financial as well as medical planning. Professionals share strategies, including forming budgets, claiming relevant tax deductions and looking to income sources such as annuities and life insurance with accelerated death benefits.

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The New York Times
1/14/2022

Changes made in the American Rescue Plan Act mean that taxpayers may be entitled to a larger credit for child care expenses in 2021. In addition, a broader range of people may qualify for the credit.

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CNBC, Kiplinger
1/14/2022

The 100 biggest public company pensions were almost fully funded at the end of last year, with the funding level increasing to 99.6% from 90.3% at the close of 2020, Milliman data shows. Pensions of large companies in the Fortune 1000 reached a 96% funding level last year, according to Willis Towers Watson, compared with 88% in 2020.

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CNBC
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Willis Towers Watson
1/14/2022

If you don't believe there are any blind spots in your practice management, you may have just uncovered one, writes Kristine McManus, vice president and chief business development officer at Commonwealth Financial Network. She draws on her own experience to outline several steps advisers can take to find and fix their own blind spots.