Wealth Management
Top stories summarized by our editors
7/25/2017

Financial advisors Christina Gann Munguia and Paola Ramos note that the divorce rate among couples age 50 and older has doubled since 1990. They discuss the impact of divorce on retirement-age couples, including the division of assets and adjusting for a one-income household.

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Forbes
7/25/2017

Activities and accommodations normally financially out of reach for retiree Eric Ortega are easy to come by in Phnom Penh, Cambodia. The city, with a low cost of living, "feels like home," he says, and "my expat life is much more enjoyable than I could have imagined."

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HuffPost
7/25/2017

Record keepers such as Principal Financial Group have said they will only be able to accept new sales of group variable annuities to fund defined contribution plans after Jan. 1 if the independent insurance agent is licensed with a broker-dealer or registered investment advisor. The other way to comply with the fiduciary rule would be for the insurance agent to change their business model and "have a non-fiduciary (education only) fee-for-service arrangement directly with the plan sponsor," a Principal Financial Group memo said.

7/25/2017

A Nationwide pilot program in Arizona looking into direct-to-consumer sales of annuities found that consumers want to discuss the purchase of an annuity with someone before making a decision. The company plans to test an artificial intelligence chat function that can answer questions outside normal business hours.

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Advisor News
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artificial intelligence
7/25/2017

Michael Kitces reviews the tax laws and rules applicable to the deductibility of long-term-care insurance premiums and offers some strategies to maximize taxpayer benefits.

7/25/2017

The Insured Retirement Institute strongly endorses a bill repealing the Labor Department's new fiduciary rule and replacing it with a "workable best interest standard" that is sponsored by Reps. Phil Roe, R-Tenn., Peter Roskam, R-Ill., Tim Walberg, R-Mich., and Joe Wilson, R-S.C., said Cathy Weatherford, IRI's president and CEO. "IRI commends Representatives Roe, Roskam, Walberg and Wilson for their continued leadership and their concern for how the fiduciary rule will adversely affect low- and middle-income Americans," she said.

7/25/2017

Using phones and tablets outside the office enables increased productivity but also exposes users to new cybersecurity risks. These simple tips can help you protect your device and valuable data from hackers.

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CGMA Magazine online
7/25/2017

A report from DeVoe & Co. shows 38 mergers and acquisitions between registered investment advisors took place in the second quarter. While the figure is slightly below the record 44 recorded in the previous quarter, the overall number is on track to break the record yearly total of 145 achieved in 2016.

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DeVoe & Co.
7/25/2017

Only 18% of women and 35% of men between age 60 and 75 passed a retirement income survey given by The American College of Financial Services. Women scored lower than men on questions about annuity products, post-retirement investment decisions and company retirement plans but higher than men on questions about long-term-care expenses and Medicare.

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PlanAdviser online
7/24/2017

Sharon Bowen's imminent departure from the Commodity Futures Trading Commission illustrates a problem many US regulators face: a lack of leadership created by a backlog of confirmations for President Donald Trump's nominees. The Senate confirmation process for financial regulators is taking three times longer than it did prior to 1990, according to the Bipartisan Policy Center's March study.