Advisory firms often focus on training their sales reps and ensuring that advertising and web campaigns target appropriate customers. Changes to forms 1099-R and 5498 that require IRA custodians to disclose hard-to-value assets in IRAs could lead to the Internal Revenue Service increasing its enforcement of required minimum distributions.
Present bias, or spending money now rather than saving, and failing to appreciate the power of compounded earnings has cost retirement savers $1.7 trillion. A lawsuit alleging that Edison International improperly favored high-fee funds for its 401(k) plan has been rejected by 9th U.S.
The Security and Exchange Commission’s Investor Advisory Committee wants the regulator to mandate that standard fees be disclosed--in actual dollar amounts--on customer account statements. Morgan Stanley is building a help desk with more than 10 staffers who will answers questions from financial advisors about complying with the new retirement fiduciary rule.
Even though markets have been calm recently, the large equity selloff in the second half of 2015 and in the early portion of 2016 illustrates how quickly investor sentiment can sour. Robo-advisor Betterment has raised another $100 million in venture capital and plans to use the funding to build out additional advice products. The registered investment advisor community is quickly growing as clients increasingly prefer working with advisors who comply with the fiduciary standard, says Bill Van Law, president of Raymond James’s Investment Advisors Division.
Advisors with the Certified Financial Planner distinction tend to have higher levels of trust among clients and earn, on average, 20% more than other advisors, according to a study funded by the CFP Board of Standards and conducted by the Aite Group. The Securities and Exchange Commission has created the office of Risk and Strategy to focus on examining investment advisors and mutual funds.
Many Americans nearing retirement age are pursuing careers with a charitable or civic service nature, which is creating opportunities for financial planners. The Securities and Exchange Commission’s decision to shift resources from broker exams to advisor exams has been driven by necessity, says Marc Wyatt, director of the examinations office. Among black working-age households, 62% have no savings in retirement accounts, while only 37% of working-age white households lack such savings, according to a National Institute on Retirement study. Individuals who are old enough to sneak past the recent termination deadline for using the file and suspend strategy that helps boost Social Security benefits are reportedly being told they are not allowed to use the strategy. A study of retirement assets during the 2000s has concluded that retirees in the top quintile of wealth have been spending substantially less than their savings allows for.
Funding for the Securities and Exchange Commission and the Futures Trading Commission would be doubled by 2021 under the budget recently proposed by President Obama. President Obama’s proposed budget includes provisions that would increase the number of Americans covered by employer-sponsored retirement plans by expanding the use of multiple employer plans. Bill McNabb, who is the chief of ETF giant The Vanguard Group is warning the industry that the large number of ETFs being launched could create problems for investors.
The Department of Labor’s proposed fiduciary standard could create a big increase in orphan accounts, which are accounts that end up being managed by home offices rather than by broker-dealers registered reps, says Paul Sankovich, chief compliance officer at Wells Fargo Advisors Financial Network. The Financial Industry Regulatory Authority (FINRA) is investigating how robo advisors manage risk, says Dawn Calonge, surveillance director at the organization. Deena Friedman, who skippered the Fidelity Select Retail Fund to an 18.59% return in 2015, has been selected by Bloomberg as the stock picker of the year.
Only one out of every five advisor recruits stays in the industry, but firms can take various steps to improve retention. The Securities and Exchange Commission has fined Everhart Financial Group nearly $240,000 and ordered the advisory firm to appoint a chief compliance officer after the regulator determined that the company was inappropriately recommending funds with 12b-1 fees for retirement plans.
With weakening economic growth in China and other concerns driving market volatility, billionaire investor George Soros says capital markets currently remind him of conditions that existed during the economic crisis of 2008. For financial advisory firms, implementing customer relationship management technology can be a high stakes and dicey undertaking. Galen Marsh, who as a Morgan Stanley advisor downloaded client data to his home computer without permission, has been sentenced to three years of probation and ordered to pay $600,000 in restitution. Retirement plan fees are falling as 401(k) participants increasingly embrace low-cost products. The proposed Department of Labor fiduciary standard could cost the financial industry in excessive of $2.4 billion in lost transaction revenues, which is more than double most estimates, says Morningstar Analyst Stephen Ellis. A small number of stocks including Amazon, General Electric, Alphabet, Microsoft, and Facebook drove market gains in 2015. Having $30,000 in student debt can cut as much as $325,000 from 401(k) balances by the time an individual reaches retirement.
Only 64% of advisors responding to a recent Russell Investments Financial Professionals Outlook survey have a positive outlook for capital markets over the next three years. Online market gurus have been forecasting rapid growth of web surfers connecting to cyberspace with smartphones and tablets and a decrease in the use of desktops and laptops. Smart Beta exchange traded funds captured $3 billion in assets in October and $53.7 billion during the first ten months of this year, according to London-based research firm ETFGI. Despite occasional articles about advisors stealing from clients, only 2% of individual advisors have reported criminal charges such as felony convictions or investment related misdemeanors, according to an analysis of industry data by Big Crunch.
Morgan Stanley advisors who land clients that need cash management services next year can receive bonuses up to $50,000.
Susan Elizabeth Walker, 51, of Plymouth, Minnesota, has been sentenced to more than seven years in the slammer after being found guilty of stealing $1.1 million from at least 24 clients.
The Securities and Exchange Commission has issued a warning regarding outsourced compliance programs based on deficiencies that it has uncovered during examinations.
Providing low-cost tax return preparation to generate financial planning prospects is just one of a variety of successful strategies. During the past year, daily equity market declines and gains exceeding 1% have been common, with investor sentiment quickly changing based on the prevailing outlook for the Federal Reserve’s monetary policy. File and suspend, which allows one member of a couple to receive a spousal benefit from Social Security while both spouses’ benefits continue to accrue, would be terminated under the budget bill that was recently passed by the House of Representatives. Mounting levels of student debt and declining home ownership among younger people means that many recent college grads will have to work to age 75 before retiring. The Certified Financial Planner Board of Standards should be raising the requirements to become a certified financial planning. Periodically adjusting asset allocations based on expected returns of different asset classes can generate better returns than traditional target date funds, according to back testing completed by Grantham, May, van Otterloo. Boston-based startup firm Gradifi has launched the Student Loan Paydown Plan, which allows business to make payments toward their employees’ student debt. Impact investors, or those investors seeking to invest in a socially responsible manner, don’t have to sacrifice returns to stay true to their calling, according to a new Wharton School study. In the next five years, private wealth is estimated to grow from approximately $14 trillion to $22 trillion. Traditional advisors can compete with robo-advisors by being prepared to answer tough questions about fees, understanding what services clients value, expanding their referral networks, and clearly articulating the range of services they provide.
Advisors should ensure that female clients can find financial planning documents, such as life insurance policies in the event that they outlive their husbands. Advisors need to address frequently overlooked aspects of their digital branding to ensure that their reputation and marketing are assets rather than liabilities.
The Department of Labor is moving forward with a rule change intended to help states start retirement plans without running afoul of regulations included in the Employee Retirement Income and Security Act. Financial services firms are awaiting a list of products that the Department of Labor may restrict from being used in IRAs as part of its fiduciary standard rule. Investors younger than 40 ramped up stock purchases on August 24 when the market tanked 1,000 points at the open, according to Robinhood, which is a stock trading app that is frequently used by Millennials. The Social Security Administration says it will provide retroactive spousal benefits to same-sex couples that were married in states that previously didn’t recognize such matrimonial unions, according to attorneys for plaintiffs.
Many advisors may cringe when conversations suffer from akward silence, but such moments can lead to more productive conversations.


Labor Secretary Thomas Perez says he will continue to push for a fiduciary standard for retirement plan advisors even though Republicans and moderate Democrats are concerned that the rule could harm low-income individuals. Advisors need to understand the complex emotions that can accompany sudden wealth in order to best serve their clients. While blissful couples pledge to stay married until death, the reality is that approximately 50% of marriages inthe U.S. Collecting Social Security early can help retirees assess how much they can spend because the payments are consistent. The annual household savings rate climbed to 5.5% last year, up nearly a full percentage point from 2013. Advisors can engage their clients and strengthen relationships by using appropriate teaching styles for each investor’s preferred method of learning.
May and June have been tough months for Bill Gross and his Janus Global Unconstrained Bond Fund with investors withdrawing $50 million from the portfolio during the period, according to Morningstar. The Securities and Exchange Commission recently awarded a whistleblower $3 million for information that helped the regulator crack a complex case of fraud.
Advocates of the fiduciary requirement for retirement investment advisors have delivered a petition with 230,000 signatures to the Department of Labor to urge the regulator to support the proposed standard.
Industry trade groups are proposing legislation that would require retirement planning advisors to serve in the best interest of clients rather than comply with the Department of Labor’s proposed fiduciary standard, says Steve Saxon, chairman of Groom Law Group. With the recent Supreme Court ruling shooting down state bans on same sex couples, financial planners should be ready to take a variety of estate planning actions with gay clients.
In a lawsuit, San Antonio player Tim Duncan is alleging that his former financial advisors, Charles Banks, failed to disclose his own interest in investments that eventually lost $20 million for the superstar. Despite the government taking steps to address these concerns through economic reform, impending tapering in the US is having a far-reaching effect, as it increases borrowing costs and further exacerbates the plight of India trying to attract investment. Next up, a story revisited by the Wall Street Journal this week – that of the super strength seen in US oil transportation…by other means than pipeline. More oil is being transported by trucks, barges, and trains than at any point since records began in 1981.
North Dakota, which is leading the charge in terms of shale play production (for now), sees about 70% of its 800,000 barrels a day leaving by rail.
According to the Association of American Railroads (AAR),  crude shipments by rail were 9,500 carloads in 2008, increasing to 233,811 in 2012…and are estimated to be 389,000 this year.
Canadian shipments reflect a similarly meteoric rise – 16.6 million barrels of crude were shipped to the US by rail last year (2% of total Canadian exports), with industry estimates suggesting this could grow to 73 million barrels this year, and on to nearly 110 million barrels next year (see below). As the chart at right illustrates, the amount of crude transported by truck and by barge is by far the largest share of non-pipeline transportation, with crude by rail minor in comparison. Matt Smith spent his twenties working in investment management in London, before swapping his bowler hat for a banjo and moving to Louisville, KY.
Those include services on its 401(k) platform and additional features for use by financial advisors.
Now, recent data suggests the use of such portable devices has exploded, which underscores the need for advisors to ensure that their websites are well equipped to handle smartphone and tablet traffic.
Instead, it is making it easier to obtain the credentials, writes Rick Kahler, who is president of financial planning firm Kahler Financial Group. During that period, furthermore, women are expected to control two-thirds of private wealth. La Placa and a handful of other team members that collectively manage $3 billion in assets have left the San Francisco office of Deutsche Bank to start their own firm. The news is being celebrated by PC users who are hoping that the operating system will eradicate many of the frustrating issues with Windows 8 that have led to sharp criticism of Microsoft. I think it’s because of a colleague I used to work with in London, who instead of saying ‘good morning!’ or ‘how are you?’ would ask ‘are you strong?’ – to which you could only reply ‘strong as an ox’.
The Indian currency is hitting a record low this week as a lack of confidence in the emerging market has sent investors fleeing. When he is not reading, writing (or dreaming) about financial markets, he can be found enthusing about music, red wine, spicy food, or his family.
If you throw into the mix the occasional premature death of a spouse, then it becomes clear that a substantial portion of advisors’ married clients are likely to become single. The second most populous country in the world is currently experiencing economic growth decelerating to its slowest pace in a decade, combined with a record current account deficit due to overspending. It is this phrase which resonates with me this week, as there have been a couple of market dynamics hitting the headlines which exhibit the attributes of the aforementioned bovine. Hicks is a natural right-handed hitter, like most switch-hitters.Shane Victorino is the best and most recent example of a switch-hitter moving to one side of the plate exclusively. He stopped hitting left-handed midway through last season, though he has indicated he may return to switch-hitting in a future.
It hasn't happened yet though.Hicks has been a switch-hitter for most of his life and the adjustment to facing righties as a right-handed batter will be a challenge. But I know enough about chemistry to know that a chemical by itself may be poisonous but not poisonous when in a compound with other chemicals. Remember, he has never seen a slider break away from him or two-seamer run back in on his hands. He will have to make that adjustment at the MLB level, at least at first, however.Gardenhire said in an ideal world, Aaron Hicks would go to Triple-A to work on hitting right-handed vs righties.
They are rebuilding and are in position to give Hicks a chance to learn how to hit right-handed full-time at the MLB level.The adjustment might not be pretty at times -- for what it's worth, Victorino took to it exceptionally well last year -- but it just might help save Hicks' career.
But you should be aware that the story of Chicken Little is notA  a "fable character." While he did say "The sky is falling" quite a bit, this was only because he had difficulty making contact the his agent provocateur whose actual physical appearance had changed over the years.
The video faculty includes Eric Hulsizer, a former Channel 8 cameramanA who photographed "Channel 8 On Your Side," and Lisa Inserra of Cox Media (the company that owns Valpack) who is active in producing television commercials for her company's clients.az?i»? In my program, I've studied drawing, camera operation, scripting, digital imaging, programming basics, copyright law, video editing, website design, sound production and editing. One of myA professors says the program is the best of its kind in the Tampa Bay area and I think he's right.az?i»?i»? Please, please, put the word out to others so that this fine program will be better known. It doesn't matter what your heritage is or whether you are still in high school or old enough for Medicare.
Petersburg Collede digital arts program is filled with both talented professors and students. In your story on stadium horns, you called them vuvuzwelas, what is that funny looking symbol after the photo credits.
The image can be used freely, subject to some restrictive terms in the license, including crediting the photographer. It looks to me like he called on Curtis LeMay, Colonel Clearwater - and then realizing he had made a mistake - schluffed it into Colonel Kilgore. Here's a photo of American school children using the original Bellamy salute:A I think the photo speaks for itself. Colonel Clearwater Dear Colonel Clearwater: What do you think about the Egyptian revolution?
Fundamentalists, in any religion, are usually a reaction to what the followers perceive as injustice. This doesn't mean Egyptian society and culture will necessarily change; it is still their culture and values. But in the long run any thing they make of it will be for their benefit (and not the benefit of the United States). Not by rampeling down the side of the building like Tom Cruise, but by sliding in with a tourist visa when it was not open to tourists.
Clearwater: Republicans are betting that your readers don't care - that after all you did to beat them in 2006 and 2008, you're going to sit this one out. So they're whipping up their base by blocking help to unemployed workers, blocking summer jobs for teens, apologizing to the big companies that gave us the spill in the Gulf, and doing anything else they can do to stop progress.


Yes, that Rand Paul, who says freedom means a private business can discriminate against African-Americans, and that President Obama holding polluters accountable for the mess in the Gulf is "un-American." And he's not alone. One candidate calls Social Security "horrible policy," while another has said that Americans will turn to "Second Amendment remedies" against Democrats. In New Hampshire, Paul Hodes is running neck-and-neck with his Republican opponent to take this seat for the Democrats. We've just started to turn our country around, passing healthcare reform, working to hold the big banks accountable for the Wall Street meltdown, pushing legislation to address climate change and end our addiction to oil. The GOP is betting big that saying "no" and blocking progress is a path to success in November.What bet will you make?
I think the Republicans should adopt as their emblem the condom because it more clearly reflects the party's political stance. A condom stands for inflation, halts production, destroys the next generation, protects a bunch of pricks, and gives one a sense of security while screwing others.
Colonel ClearwaterDear Colonel Clearwater, Last week, my friend and colleague, Congressman Anthony Weiner, did something very good, and very gutsy.
Weiner's report showed that this firm, which sells gold coins, rips off its customers while benefiting directly from Beck's Chicken Little lunacy about the economy.
Every time Beck screams that there is an impending Obama-led government takeover of the economy and your savings aren't safe, he's making a sales pitch for this sleazy advertiser.
You see, Beck's ratings have recently crashed, and most of his reputable advertisers have deserted him. Now that he's been exposed, Beck has spent the last week using his big media platform to attack and undermine Weiner - he even set up an attack website designed to damage Weiner's political standing. This collusion between big media, conservative commentators, and quack economics is a scam, but it is powerful if it remains unopposed. And we need to support people like Weiner, who have the guts to go after right-wing lunacy at the source. Consider his statement: "I beg you, look for the words 'social justice' or 'economic justice' on your church Web site. That oil disaster must be stopped, and a way must be found."I am not the original author of that sensible thought, but it has been my favorite definition of faith for a while.
While we have no way of certainty for moving past them, working to find a pathway that takes us beyond our doubts is the best option in my view. Then how come Congress starts each session with a prayer and the president is sworn in on a Bible? Wants to KnowDear Wants to Know, As I said in an earlier reply, our countrys laws and structure are not based on the God of the Bible and the Ten Commandments, as Sarah Palin and others claim. So most of us do not work on Sunday and some businesses are not open for business on Sunday. So we have a religious custom of not working on Sunday and a secular custom of watching football on Sunday. The Constitution states that the president must take an oath, but it does not mention anything about a Bible.
Colonel ClearwaterDear Colonel Clearwater, I understand you answer, but you say customs and traditions. Wants to Know MoreDear Wants to Know More, It is important to realize the difference between a custom and a tradition.
It is a custom at my house that every year we watch football on Thanksgiving Day after we eat. A tradition is a ceremony invented for the purpose of commemorating some historical event or to develop a sense of binding in a community or religious group. Thanksgiving Day is a tradition in America that serves the purpose of reminding us of what we have from God for which to be thankful and is loosely based on the first harvest feast of the Pilgrims to celebrate their first year of survival in the New World. It is a tradition; a ceremony we use to create a common bond among Americans by commemorating our heritage.
When Congress meets, the first thing that happens is that the designated speaker calls the group together.
Colonel ClearwaterDear Colonel Clearwater, I have just seen a video about an organization called the Council on Foreign Relations.
This organization has members who were past Presidents and past Secretary of States of the United States, plus leaders in the fields of finance, industry, and other important positions in society. The spokesman on the video has concluded that this organization must be a part of world conspiracy to take over the world and put the entire world under a one-world socialist government and I agree with him.
The Council on Foreign Relations (CFR) is an organization of foreign policy experts, people concerned with international trade, prominent historians and writers, as well as others who are involved with foreign policy and international affairs. The CFR hold speaking events with question-and-answer periods which are usually televised on CSpan or other cable stations. The speakers are usually world leaders, historians, writers, or others involved in international affairs. Some of the speakers have included such figures as Nelson Mandela, George Soros, Thomas Friedman, Mikhail Gorbachev, and Ronald Reagan.
The journal, which I have subscribed to and read for over 25 years (plus you can buy it at the newsstands in Borders or Barnes and Noble) provides a forum for contrasting views and opinions regarding issues affecting foreign policy. Some people have made a nice living scarring others with conspiracy theories about the CFR.
My advice to you is to go to the store, buy and read their journal, watch their events on CSpan, and be wary of people who wish to sell you on the idea that other people are out to get you. Colonel Clearwater________________________________________________________________________________________________________________________________Dear Colonel Clearwater: Cancel my subscription to your liberal rage. And no matter how great the obstacles may seem, we must never stop our efforts to reduce the weapons of war. We must never stop at all until we see the day when nuclear arms have been banished from the face of this earth." Ronald Wilson Reagan, 1984 Colonel ClearwaterDear Colonel Clearwater: Liberals? I realize that there is collateral damage in war, but this is no less than cold-blooded genocide. They were shooting at insurgents who, upon later investigation, turned out to be civilians.
By saying the soldiers were shooting civilans implies that they knew they were shooting civiliansj.
The real guilty party are those who convinced the American public that this war was necessary and just.
Can you tell me how the "Smallest of the World's Leading Newspapers" managed to scoop "Florida's Best Newspaper?" Pedro TechadorDear Pedro, Always nice to hear from one of the Techadors.This was a WikiLeak scoop. Palin:Your statement reminds me of what Republican Congressman, Devin Nunes said during the health care vote. And now you are bringing the ghosts back into this chamber." There is no polite way to get around this. Tea Party Patriots are morons when it comes to history, economics, and how to run a society.
Much like the resurgence of the Ku Klux Klan after World War I, the Tea Party Patriots are people who believe they have lost their privileged status in American society and wish to thwart others hopes for the American dream.
Unfortunately, or fortunately (depending on which editor yells loudest) President Obama considers Wall Street, the banks, the Republicans in congress, and those with tea party policies as necessary players in the solution when they are, in fact, part of the problem. Both the Senior Citizens' Right to Work Act and the Family Medical Leave Act were passed this way.



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