Industry News
Wealth Management
Top stories summarized by our editors
7/30/2020

Advantages of the business conference world's shift to virtual events include the convenience of attending, says Abe Wellington of Opal Financial Group. To get the most out of a virtual conference, he recommends asking questions, using the messaging system to reach out to speakers and panelists, and networking through the platform after the event.

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WealthManagement
7/30/2020

It is important for clients to sign up for Medicare during the initial enrollment period to avoid a late penalty for as long as they have Medicare. This article covers the deadlines associated with Medicare.

7/30/2020

Rather than withdrawing a fixed amount year after year, retirees might be served by a flexible withdrawal strategy, says retirement researcher Jonathan Guyton. The strategy starts with a base percentage withdrawal and adjusts it up or down annually based on investment performance.

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Morningstar
7/29/2020

A survey by an accounting firm found strategic planning and securing skilled labor among contractor priorities for the year ahead. The firm suggests that contractors should adopt coronavirus-related safety measures, address contractual language and ensure diversity in supply chains.

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ForConstructionPros
7/29/2020

The Securities and Exchange Commission said it will schedule a roundtable this fall to talk about how financial professionals have implemented Form CRS. The SEC's inspections of brokerage and advisory firms turned up some forms that "could be clearer or otherwise improved."

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WealthManagement
7/29/2020

Clients want more personal contact from their financial advisors, and they want it more frequently, according to research from Envestnet. To fulfill that need, advisors should work on expanding their practice, improving their digital offerings and increasing their public profile, Envestnet executives said.

7/29/2020

The IRS has proposed regulations that allow concierge medical care to qualify for health reimbursement arrangements. However, people covered by such arrangements could lose their eligibility to contribute to a health savings account, write Robert Bloink and William Byrnes.

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Robert Bloink, William Byrnes
7/29/2020

Virginia has become the first state to implement an emergency temporary standard for all employers, including construction companies, amid the coronavirus pandemic. One requirement of the standard is providing hand sanitizer or hand-washing facilities if enforcing social distancing is not feasible.

7/29/2020

A lawsuit filed in federal court alleges that a group of companies conspired in a bid-rigging scheme to inflate interior construction costs in the New York City metropolitan area. According to the lawsuit, the alleged scheme ran from 2010 to 2018 and led to hundreds of millions of dollars in lost bids for subcontractors.

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Legal Newsline
7/29/2020

A car-washing company has become the first gig company sued under California's AB5 law over allegations of misclassifying workers as independent contractors. The lawsuit also says the company has not registered with the state Labor Commissioner's Office or provided a mandatory $150,000 surety bond.

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