Wealth Management
Top stories summarized by our editors
11/15/2018

The New York state "best interest" sales rules, which go into effect on Aug. 1 for annuities and six months later for life insurance policies, will increase the cost of doing business for insurers in the state, according to a report from A.M. Best. Compliance with the rules will require training for producers and insurers' sales support, A.M. Best said.

11/15/2018

Advisors should not shy away from conversations about values with clients, as surveys show consumers are "ready to lead with their values," writes Evan Zall of Longview Strategies. He offers three "building blocks" for advisors to help them incorporate sustainable investing into their brands.

11/15/2018

The increasing number of choices available in indexed annuity and life insurance products means financial advisors need a deeper knowledge of those products to recommend the right ones to clients, writes Eric Thomes of Allianz Life. Advisors need to know what the index tracks, how it does it and how those factors affect the product's rates, he writes.

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Allianz Life, Eric Thomes
11/15/2018

Once advisors "adopt the proper tech stack and learn how to use it," they will elevate their ability to attract and retain clients, writes Alex Chalekian of Lake Avenue Financial. A core tech stack should include three types of software: customer relationship management, financial planning and risk analysis.

11/14/2018

A report from the Center for Retirement Research at Boston College found that around half of retirement households are expected to fall short of the goal of replacing three-quarters of preretirement income. The report examined five surveys commonly used to measure retirees' financial resources and found that between 42% and 60% of retirees are not likely to meet this goal.

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PlanAdviser online
11/14/2018

The US economy likely will continue to grow at an annual rate of slightly above 3%, but a labor shortage could affect that figure, economists said at a briefing by The Conference Board. Employers have had difficulty finding professional workers, and now it is becoming a challenge to recruit blue-collar workers.

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Conference Board
11/14/2018

People who qualify as highly compensated employees, including those paid more than $120,000 by a business, might have additional considerations during open enrollment. For example, some companies limit 401(k) contributions among highly compensated employees so plans pass nondiscrimination tests.

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CNBC
11/14/2018

Oregon has expanded its state-run mandatory retirement plan, OregonSaves, to include individuals such as the self-employed or gig workers. OregonSaves launched last year as a pilot program.

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WealthManagement
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OregonSaves
11/14/2018

AXA Equitable Holdings said sales of buffer annuities, contracts designed to protect owners against some losses in a market downturn, rose by 28% year over year in the third quarter to $1.1 billion. For the same period, overall annuity sales were up 18%.

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AXA Equitable Holdings, Axa
11/14/2018

One way for financial advisors to stand out during the holidays is to send Thanksgiving cards instead of Christmas cards, writes Bryce Sanders of Perceptive Business Solutions. Other ways to express gratitude include inviting clients to a party or an open house, giving them tickets to a holiday concert, or donating to one of their favored charities.

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Bryce Sanders