Experts offer advice for building a quality workforce in rural areas, where recruiting financial advisors can be challenging. Tips include offering a salary or perks and creating a good corporate culture.
Questions over what will become of the Labor Department's proposed fiduciary rule have the financial-services industry "in a pretty tenuous spot," said Robert DeChellis, president and chief strategist of Allianz Exchange and chairman of the Insured Retirement Institute's board of directors. The timing of the Senate's vote on R. Alexander Acosta, President Donald Trump's nominee for Labor Department secretary, will have big effect on the rule's time frame, said DeChellis and other panelists at an InvestmentNews event.
Many broker dealers are working ahead of the effective date of the Labor Department's new fiduciary rule to review the way indexed-annuity sales are compensated. Some are considering bringing such sales in-house, which would give the broker-dealers greater control and could increase their revenues.
American Equity Investment Life Insurance, an annuity provider, has "never indicated we were going to pull back" from marketing products through the independent-agent channel, President Ron Grensteiner said.
The simplicity, low cost and "magnification" of income-tax deferral could lead to sustained appeal for investment-only variable annuities, write Robert Bloink and William Byrnes. Using "a wide range of investment options theoretically allows an IOVA to offer downside protection through the use of hedging strategies and diversification," they write.
Retiring early is a goal that remains out of reach for many Americans, but a good financial planner can help change that, writes Brian O'Connell. Following a checklist can make early retirement possible, he adds.
President Donald Trump has signed executive orders suspending for 180 days provisions of the Dodd-Frank Act that authorize the liquidation of distressed banks and the designation of nonbanks as systemically important financial institutions. Trump has instructed the Treasury Department to review rules governing the procedures.
Parents of young children tend to have numerous demands on their limited income, writes Kevin McKinley. He suggests advisors can offer a valuable service by helping them prioritize their expenditures, from covering the basics to saving for retirement.
Retirement planning was relatively simple when pensions were common, but now a strategy is required, and too few baby boomers have one, writes Mark Huffman. Planning should include identifying sources of income, including Social Security, retirement accounts and part-time work.
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