Wealth Management
Top stories summarized by our editors
10/19/2018

A plan to shield the tax status of group retirement plans is expected by June from the Treasury Department. The plan likely will also address the minimum age at which savers can access money without penalty.

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Bloomberg Law
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US Treasury Department, Treasury
10/19/2018

Advisors have numerous networks for communicating digitally with clients, improving access but raising compliance issues. Technology most firms employ to track and store electronic communication is outdated, says Marty Colburn, former executive vice president and chief technology officer at the Financial Industry Regulatory Authority.

10/19/2018

The growth of an independent advisory firm eventually forces owners to decide whether they want to remain a manager or work as a full-time advisor and move someone else to the helm, consultant Angie Herbers writes. Being a leader requires asking questions and influencing employees to perform at the highest level, she notes.

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Angie Herbers
10/19/2018

Matt Oechsli offers six benefits advisors glean from visiting clients at home. These include being able to provide a higher level of service, understanding the client more fully and identifying prospects.

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WealthManagement
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Matt Oechsli
10/19/2018

Doubling of the estate tax exemption to $10 million and other changes brought by the Tax Cuts and Jobs Act warrant revisiting of estate plans. Financial advisors should familiarize themselves with the tax changes, talk to clients and adjust estate plans as needed, says Mark Parthemer of Bessemer Trust.

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Advisor News
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Bessemer Trust
10/19/2018

Investors are finding it hard to save for a child's college education, with 38% making no progress and only 15% reaching their goal, according to a survey by Gallup and Wells Fargo. Meanwhile, 71% of respondents have completed a goal of saving for a home, but only 3% of respondents have saved enough for a comfortable retirement.

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Gallup
10/19/2018

Half of financial-services professionals who supervise compliance are concerned about communication platforms such as social media, instant messaging and text messaging, a survey from Smarsh finds. Forty-eight percent of respondents say their firm does not have an archiving-supervision system.

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WealthManagement
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Smarsh
10/19/2018

Advisers may be able to solve nagging issues by changing their location within the office to gain a new perspective, writes Joni Youngwirth of Commonwealth Financial Network. She says sitting in one's office and trying to resolve an issue, no matter how big or small, often doesn't provide enough clarity for making a decision.

10/18/2018

Federal Reserve policymakers agree they should keep raising interest rates, according to meeting minutes, rejecting President Donald Trump's criticism that rates have increased too much. The rate-setting committee says increasing short-term interest rates "would most likely be consistent" with expected economic growth, the minutes show.

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Reuters, CNBC
10/18/2018

A survey from Capital One found that many employees with access to an employer-sponsored retirement plan don't participate because they believe they don't make enough to contribute. However, educating individuals about tax benefits and fees could help encourage participation, says Stuart Robertson of Capital One Advisors.

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PlanAdviser online