While more than half of Millennials, Gen-Xers and Baby Boomers on average prioritize saving for retirement over any other financial goals, differences emerge in their investment goals and preferences, according to new research.BMO Wealth Management’s report, Generational Perspectives: How... READ MORE

Helped by a strong stock market performance, the average account balances of 401(k)s and IRAs reached all-time highs for the fourth consecutive quarter, a quarterly analysis finds.Fidelity Investments' new report reveals that the average 401(k) and IRA balances for the third quarter of 2017... READ MORE

In recent days, we’ve gotten updates on average savings rates and 401(k) balances, and while for the very most part the reports have been positive and “directionally accurate,” I’ve always taken such findings with a grain of salt. Not so many in the press.Indeed, the press coverage of those reports... READ MORE

If past is precedent, then the Labor Department could expect to hear from the Office of Management and Budget (OMB) on its review of its proposed delay in applicability date for parts of the fiduciary regulation in about three weeks.On Nov. 1 the Labor Department submitted to the OMB a proposed... READ MORE

A major – and as yet largely unreported – change in the tax reform bill unveiled last week could have a dramatic impact on nonqualified deferred compensation.Section 3801 of the Tax Cuts and Jobs Act provides that an employee would be taxed on compensation as soon as there is no substantial risk of... READ MORE

It’s not enough for financial advisors to simply do what they were hired to do — they must continuously nurture the advisory relationship to build trust to improve business outcomes and client retention rates, new research suggests.Being the client’s advocate and acting in his or her best interest... READ MORE

While you were reading the House GOP's tax reform proposal, the Labor Department filed a rule with the Office of Management and Budget (OMB) for the official 18-month delay of its fiduciary rule.The Labor Department had published a proposal in the Federal Register in late August to “extend the... READ MORE

By Nevin E. Adams, JD and Ted GodboutHouse Republican leaders on Nov. 2 released their much-anticipated tax reform plan that left 401(k)s and IRAs alone, but contained a number of proposals to modify various pension and retirement savings provisions.The first wave of documents released by the House... READ MORE

UPDATED 11:00 A.M. NOV. 3The GOP tax reform proposal “…makes no changes to the popular retirement savings options that Americans have today – including 401(k)s and Individual Retirement Accounts, or IRAs.”A document accompanying the Tax Cuts & Jobs Act goes on to state that “Americans will be... READ MORE

In a preemptive move against retirement provisions in the forthcoming House Republican tax reform plan, Senate Democratic leaders yesterday unveiled an alternative proposal that, among other things, would increase 401(k) contribution limits.In an Oct. 31 press conference with several other... READ MORE

The IRS has expanded the relief it is providing to victims of Hurricanes Harvey, Irma and Maria and the California wildfires. It already has provided relief to victims of these natural disasters, as well as to those who suffered as a result of Hurricane Harvey and Irma.Maria and WildfiresIn... READ MORE