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Ted Godbout

By Ted Godbout | 3/6/2019
While the number of cases reported by FINRA was down last year, the level of fines appears to be increasing, according to a new report.  Eversheds Sutherland’s annual analysis of FINRA disciplinary actions shows that the self-regulatory agency in 2018 brought 638 actions, which was down... READ MORE
By Ted Godbout | 3/6/2019
Health savings account assets grew by over $5.8 billion in January 2019 to reach $59.6 billion, up 11% since the end of 2018, according to an industry report.  In addition, the total number of HSA accounts also grew by almost 5% in January, with the total rising to an estimated 26.3 million,... READ MORE
By Ted Godbout | 3/4/2019
A group consisting of 12 separate financial services trade associations – including SIFMA, ACLI and the U.S. Chamber of Commerce – have highlighted both preemption issues and legal deficiencies with Nevada’s proposed fiduciary regulation that they say goes “well beyond” the state’s legal authority... READ MORE
By Ted Godbout | 3/4/2019
Picking up where they left off in the last Congress, Reps. Lisa Blunt Rochester (D-DE) and Tim Walberg (R-MI) have reintroduced legislation to make it easier for retirement plan sponsors to provide guaranteed lifetime income products as part of their DC plan.    In general, the Increasing Access... READ MORE
By Ted Godbout | 3/4/2019
A new study finds that longer client lifespans, information privacy/data integrity and changing workplace dynamics could impact advisors’ businesses the most over the next decade. But not all impact is created equal, according to Schwab Advisor Services’ Independent Pulse study, which seeks to... READ MORE
By Ted Godbout | 3/1/2019
Several former SEC economists have given the Economic Analysis (EA) underlying the Commission’s April 2018 investment advice proposals an “incomplete.” In a Feb. 6 letter, 11 former chief economists, whose service spanned from the early 1980s to 2016, wrote that they “find it worrisome that the... READ MORE
By Ted Godbout | 2/27/2019
Promising robust oversight of the financial services system, the House Financial Services Committee has announced a busy March schedule.  In what may be of most interest to retirement professionals, the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets, chaired by Rep.... READ MORE
By Ted Godbout | 2/27/2019
Successful outsourcing of functions like investment management, legal and compliance, and marketing/communications appears to be good for business, according to new research by Fidelity.  Advisors who outsourced two or three of the top three outsourced functions reported experiencing higher growth... READ MORE
By Ted Godbout | 2/25/2019
Looking to expand your client base? Then you better be familiar with the unique mindset and preferences of Millennials as a generation ripe for guidance and engagement, says a new report.  Coming of age in the wake of 9/11, the 2008 market crash and the Great Recession, Millennials’ financial... READ MORE
By Ted Godbout | 2/21/2019
A new report by the Government Accountability Office calls on federal regulators to clarify the rules regarding the transfers of unclaimed savings from employer-based 401(k) plans to the states.  In “Federal Action Needed to Clarify Tax Treatment of Unclaimed 401(k) Plan Savings Transferred to... READ MORE
By Ted Godbout | 2/20/2019
A new study reveals that a strong majority of Americans say that technology should complement and not replace the services of a human financial advisor. Examining what consumers think of technology in financial services and client perspectives on robo-advisors, the study commissioned by MDRT finds... READ MORE
By Ted Godbout | 2/19/2019
While confidence in the ability to retire has increased from five years ago, increasing health care costs and market volatility continue to drive client fears of going broke in retirement, new survey results show.  According to the AICPA’s Personal Financial Planning Trends Survey, 30% of CPA... READ MORE
By Ted Godbout | 2/19/2019
The impact of life’s unexpected changes clearly play a large role in early retirement, but there also appear to be other dynamics at work, according to a new white paper.  In “Retiring Earlier Than Planned: What Matters Most?”, authors Alicia Munnell, Mathew Rutledge and Geoffrey Sanzenbacher of... READ MORE
By Ted Godbout | 2/19/2019
Two key members of Congress are interested in learning more about potential threats cyberattacks pose to the U.S. retirement system and what industry stakeholders are doing to address them.  In a Feb. 12 letter to the U.S. Government Accountability Office (GAO), Sen. Patty Murray (D-WA), ranking... READ MORE
By Ted Godbout | 2/18/2019
The impact of life’s unexpected changes clearly play a large role in early retirement, but there also appear to be other dynamics at work, according to a new white paper. In “Retiring Earlier Than Planned: What Matters Most?”, authors Alicia Munnell, Mathew Rutledge and Geoffrey Sanzenbacher of... READ MORE
By Ted Godbout | 2/15/2019
While confidence in the ability to retire has increased from five years ago, increasing health care costs and market volatility continue to drive clients' fears of going broke in retirement, new survey results show.  According to the AICPA’s Personal Financial Planning Trends Survey, 30% of CPA... READ MORE
By Ted Godbout | 2/14/2019
Student loan debt relief continues to receive significant attention on Capitol Hill, as bipartisan legislation introduced Feb. 13 in the Senate would allow employers to provide tax-free student loan assistance for their employees.    Senate Republican Whip John Thune (R-SD), along with Sen. Mark... READ MORE
By Ted Godbout | 2/13/2019
Consumers tend to worry about “high-touch” products, such as credit cards and bank accounts, more than they worry about long-term savings accounts, such as their workplace retirement plans and IRAs, a new study warns. Nearly 80% of American consumers are concerned about financial fraud, according... READ MORE
By Ted Godbout | 2/13/2019
Offering good news to couples on the eve of Valentine’s Day, a national survey finds that married or cohabiting retirees apparently have more financial resources to draw from and have fewer financial planning regrets, compared to their single counterparts. Those who are married or cohabiting are... READ MORE
By Ted Godbout | 2/13/2019
While traditional benefits such as a 401(k) continue to be popular, company stock plans are increasing in importance, especially among women, according to new research. Fidelity Investments suggests that employers who are looking to attract and retain female employees should consider highlighting... READ MORE

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