More than 8 in 10 advisors expect to return to in-office work by the end of the year, according to a survey of 650 financial planners, wealth managers and fiduciaries. Sixty-one percent of respondents said they have safety plans in place for employees or customers, including using hand sanitizer and spacing out appointments.
Clients are seeking "transparency, simplicity and certainty of solutions," and advisors should embrace this, writes Steve Gresham, managing partner of Next Chapter, an industry initiative that aims to help advisors adapt to meet changing client needs. He lays out 16 areas of focus for advisors that go beyond investing, including longevity planning, risk mitigation and financial literacy.
A Brookings Gender Series paper offers policy recommendations to help women earn and save more money so they can close the retirement savings gap. Among them are more robust family leave and child care programs, tax code revisions and improvements to the social safety net.
Understanding the pandemic fears of your clients and figuring out how you can help are two big challenges for advisers that have emerged during the pandemic. This article from a number of MIT AgeLab specialists examines methods to address those issues and to take advantage of opportunities created by those who "are looking for trusted sources of advice to help figure out how to navigate the financial upheaval of the pandemic."
Retirement planning should start at the top, focusing on clients' non-financial goals and connecting those back to their savings and income, writes Robert Laura, president of Wealth & Wellness Group. A written non-financial plan can help give clients direction, reduce their stress and increase their commitment to retirement goals, he writes.
Democratic presidential candidate Joe Biden has discussed funding a $775 billion "caring economy" plan partly through ending 1031 exchanges for real estate investors whose incomes exceed $400,000 annually. Dan Wagner of The Inland Real Estate Group of Companies says "the intentions behind the plan are admirable," but eliminating 1031 exchanges "would be devastating to our economy and would ultimately hurt the very people [Biden] is trying to help."
Strategic Wireless Infrastructure Funds Management, a unit of Strategic Capital Fund Management, has acquired a portfolio of wireless tower real estate and other assets in Delaware, Florida, Massachusetts, New York and other states. All sites in the portfolio have capacity to accommodate further broadband or broadband-equivalent tenants, the company said.
Capital Square 1031 aims to raise equity totaling $27 million via CS1031 Residence at Riverwatch Apartments DST, a Delaware statutory trust offering involving a multifamily property in Augusta, Ga. The newly constructed property is a Class A apartment community with 260 units.
The Financial Services Institute is committed to ensuring the Securities and Exchange Commission's Regulation Best Interest is successful, writes FSI's president and CEO Dale Brown. One concern is that some states are still moving forward with their own fiduciary rules, notes Brown, which could bring "a patchwork of inconsistent or even conflicting regulations from coast to coast."
The coronavirus pandemic has led investors to seek more relevant content on financial advisors' websites, marketing experts say. A report from digital marketing firm Snappy Kraken found that clicks on evergreen website content fell 42% in the first six months of 2020 compared with last year, while clicks on more timely content rose 370% during the same period.