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Ted Godbout
By Ted Godbout | 7/23/2018
The New York State Department of Financial Services (DFS) has finalized regulations implementing a “best interest” standard for those licensed to sell life insurance and annuity products.Touted as an effort to protect New York consumers from conflicted advice, the final regulation requires insurers...
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By Ted Godbout | 7/20/2018
Another record-setting quarter of deals was realized in the second quarter of 2018, pushing the pace for a sixth record year in a row, according to a new report.The 2nd quarter 2018 ECHELON RIA M&A Deal Report finds that a highest-ever 48 RIA M&A transactions were completed in the second...
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By Ted Godbout | 7/18/2018
Two Republican and two Democratic senators have introduced a package of bills that would make “needed reforms” to improve retirement and economic security for individuals and families.Citing reports that nearly half of American families do not have any retirement savings and more than a third of...
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By Ted Godbout | 7/17/2018
Organic growth and investment performance are fueling an upward trajectory for independent advisors, as they focus on client acquisition, marketing and operational excellence, according to a new study.Results from Charles Schwab’s 2018 RIA Benchmarking Study show that AUM grew 16.2% in 2017 at the...
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By Ted Godbout | 7/17/2018
Investors are eager for more help and education regarding income investment planning, and their advisors can play a key role in helping them guard their gains, according to a new survey.As part of an ongoing effort to assess the scope and complexity of investors’ needs and desired outcomes, Nuveen...
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By Ted Godbout | 7/16/2018
A new study reveals a number of remarkable developments in plan design trends and participant savings behaviors among small business defined contribution plans.In Vanguard’s fifth annual “How America Saves: Small business edition,” small business DC plans experienced a surge in coverage — from...
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By Ted Godbout | 7/13/2018
With concerns about healthcare costs looming large for American workers, a key congressional committee just took a major step to boost health savings accounts.The powerful House Ways and Means Committee over two days (July 11-12) separately approved a package of 11 bills aimed at expanding consumer...
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By Ted Godbout | 7/12/2018
While few current retirees take a job in their “golden years,” a new study suggests that large percentages of future retirees expect to continue working during retirement, driven by uncertainty about Social Security and their own financial preparedness.PGIM Investments’ “2018 Retirement...
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By Ted Godbout | 7/12/2018
With an eye towards determining the extent of member involvement related to digital assets, the self-regulatory authority is requesting disclosures related to broker-dealer participation in the marketplace.Regulatory Notice 18-20 requests that brokerage firms “promptly notify” their regulatory...
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By Ted Godbout | 7/11/2018
In addition to being an administrative headache, the inability to locate terminated participants of qualified retirement plans can result in heightened legal risks, a recent blog post reminds readers.The law firm of Bond, Schoeneck & King in its post, "Legal Risks Associated with a Retirement...
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By Ted Godbout | 7/10/2018
Many American workers are still recovering from the Great Recession, but most are focused on saving for retirement and have varying degrees of confidence they will be able to retire comfortably, according to a comprehensive study on worker perspectives.The Transamerica Center for Retirement Studies...
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By Ted Godbout | 7/9/2018
Plan design continued to be one of the strongest drivers of outcomes, led by features such as auto-enrollment and auto-escalation, as well as adoption of higher default deferral rates, a new report suggests.Findings from T. Rowe Price’s 10th annual “Reference Point” benchmarking report of the firm’...
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By Ted Godbout | 7/6/2018
An annual study that assesses agreement between married partners on communication and knowledge of finances uncovers several disconnects related to their retirement outlook.Fidelity’s Couples & Money Study reveals that more than 4 in 10 couples disagree when asked about what age they plan to...
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By Ted Godbout | 7/5/2018
New research reveals that many 401(k) plan participants still do not know what to do with their proverbial “pile of money” at retirement and need guidance.Findings from “The Cerulli Edge?U.S. Retirement Edition, 2Q 2018 Issue” show that participants aren’t always clear on what they should do with...
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By Ted Godbout | 6/29/2018
Jeff Acheson, NAPA’s 2018-2019 president, has been hired as divisional president of IFP Plan Advisors, a division of Independent Financial Partners (IFP) that services advisors specializing in employer plan advising and consulting.IFP is a comprehensive financial advisor support firm founded in...
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By Ted Godbout | 6/29/2018
Female financial advisors are generally more satisfied and loyal to their firms than their male counterparts, but they do have some unique pain points that firms that want to be leaders in this area will need to address, according to a new report.J.D. Power’s 2018 U.S. Financial Advisor...
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By Ted Godbout | 6/28/2018
UPDATED JUNE 29Note: On June 29, the House Ways & Means Committee indicated that the Committee has no plans to revisit Rothification as part of the new tax reform discussions. Click here for details.There’s no rest for the weary on Capitol Hill, as what was once thought of as “dead” may rise up...
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By Ted Godbout | 6/27/2018
Given the increasing demand for environmental, social and governance investing, one would think that products which incorporate ESG factors would be exploding, but that is not necessarily the case, a new report reveals.Issues such as climate change, racial and gender equality, and data protection...
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By Ted Godbout | 6/27/2018
Pre-retirees worry more than retirees about not having enough income in retirement, changes in Social Security benefits and low interest rates, while retirees worry more about health care and staying active, new research shows.According to MassMutual’s Retirement Income Study, retirees are...
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By Ted Godbout | 6/26/2018
Client-facing financial advisers are generally fulfilled and optimistic about their careers, but a large percentage have experienced difficulties and want more control over their careers, new survey results show.Schwab Independent Branch Services’ “Examining the Mindset of U.S. Financial...
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