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Ted Godbout
By Ted Godbout | 6/26/2023
Interest is growing among financial advisors in the use of artificial intelligence (AI), specifically ChatGPT, but many questions about the new technology remain.
The AI chatbot's capabilities include the ability to interface with clients and prospects while analyzing data and drafting memos. To...
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By Ted Godbout | 6/26/2023
Reforming the proxy voting system and increasing oversight of large asset managers are among eight key policy priorities the Republican-led ESG Working Group plans to focus on during the 118th Congress, according to the group’s newly released interim report.
Formed in February by members of the...
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By Ted Godbout | 6/22/2023
The ongoing battle over the use of environmental, social and governance (ESG) factors when making investment decisions for retirement plans continues.
The latest salvo comes from Reps. Andy Barr (R-KY) and Rick Allen (R-GA), who on June 21 reintroduced their Ensuring Sound Guidance (ESG) Act (H....
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By Ted Godbout | 6/21/2023
Fidelity Investments is out with its annual Retiree Health Care Cost Estimate with news of something that hasn’t happened in nearly a decade.
The firm estimates that the amount a 65-year-old retiring today could spend on health care remains the same as last year, due to expected limits to retiree...
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By Ted Godbout | 6/20/2023
Investors grappling with ongoing inflation, high interest rates and an unstable economic environment are considering delaying their retirement plans, according to Nationwide’s eighth annual Advisor Authority.
The survey by the Nationwide Retirement Institute finds that a quarter (25%) of pre-...
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By Ted Godbout | 6/20/2023
An examination of how Americans think about saving, spending and investing finds that the nation faces a wealth paradox, driven by the contrast between how people define wealth for themselves compared to how they define it for others.
When asked to express how much money it takes to be considered...
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By Ted Godbout | 6/15/2023
After months of speculation, the Department of Labor’s newly released Spring 2023 regulatory agenda confirms that a fiduciary rule rewrite could be released later this summer; it also provides other key insight for the department’s regulatory plans for the coming months.
In fact, the fall...
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By Ted Godbout | 6/15/2023
In a nod to plan sponsors that improved plan design and introduced new automatic features despite a volatile economy, Vanguard reveals in its just-released How America Saves report that it saw record highs in participation, deferral rates, and the use of professionally managed allocations in 2022...
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By Ted Godbout | 6/14/2023
Against a backdrop of outstanding student loans and rising consumer debt, only about half of young adults believe they will be able to retire at the age they want, according to the findings in a new survey.
Conducted by Georgetown University, in partnership with Bank of America, the Young Adults...
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By Ted Godbout | 6/13/2023
Legislation that would make it easier for retirement plan sponsors to include annuities as a default option in their defined contribution plans has been reintroduced in the House of Representatives by two key members of Congress.
Reps. Donald Norcross (D-NJ) and Tim Walberg (R-MI) on June 9...
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By Ted Godbout | 6/9/2023
Legislation that seeks to strengthen protections and safeguards from financial predators scamming senior investors out of their savings passed the House of Representatives June 5 by a unanimous voice vote.
With older Americans reportedly losing up to $36 billion[1] each year to scams, the Senior...
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By Ted Godbout | 6/9/2023
The Securities and Exchange Commission (SEC) is expanding the areas it plans to focus on during examinations of advisor compliance with the recently finalized marketing rule.
More specifically, the agency plans to broaden its exam target areas to include testimonials and endorsements, third-party...
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By Ted Godbout | 6/8/2023
Limit spending, work longer, maximize contributions, buy annuities, delay claiming Social Security, buy long-term care insurance, increase equity allocations, or relocate to cheaper housing. These are just some of the messages that retirement savers are bombarded with about how to personally manage...
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By Ted Godbout | 6/7/2023
Appearing before the House Committee on Education and the Workforce in her capacity as Acting Secretary of the Department of Labor, Julie Su withstood more than three hours of questioning from committee members, which ran the gamut from apprenticeship programs to child labor laws to California’s AB...
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By Ted Godbout | 6/6/2023
The ongoing economic environment continues to heighten financial pressures for employees, who are turning their attention to their workplace benefits for support, a new study finds.
As a result, employee demand for retirement planning assistance grew compared to last year—a demand that comes as...
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By Ted Godbout | 6/5/2023
In recent years, efforts to promote the use of environmental, social and governance (ESG) factors in investing have become caught up in the country’s culture wars, yet the public apparently remains largely unfamiliar with the concept, new polling data shows.
Adoption of ESG principles has been...
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By Ted Godbout | 6/2/2023
UPDATE: President Biden signed the legislation into law the evening of June 2.
Acting with a sense of urgency to avoid a first-ever federal debt default, the U.S. Senate late Thursday approved legislation to suspend the federal debt limit until 2025, clearing the measure for President Biden’s...
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By Ted Godbout | 6/1/2023
For those born between 1964 and 1978, planning for the new retirement reality is particularly challenging.
Unlike Millennials, who still have plenty of time to save before retirement, and Boomers, many of whom are already in retirement, Generation X is realizing that retirement is getting closer...
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By Ted Godbout | 6/1/2023
Independent financial advisors could get some regulatory relief from the Securities and Exchange Commission (SEC) through legislation approved by the House of Representatives.
On May 30, the House passed by an overwhelming vote of 367–8 the Small Entity Update Act (H.R. 2792) requiring the SEC to...
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By Ted Godbout | 5/31/2023
Another blockbuster deal was announced Wednesday. Franklin Resources, the parent company of Franklin Templeton, entered into a definitive agreement to buy Putnam Investments.
According to the companies, Franklin Templeton will acquire Putnam for approximately $925 million of primarily equity...
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