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  Mobile version   RSS   Subscribe   Unsubscribe April 8, 2011
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Senate passes 1099 repeal
CFO    Share   Share on FacebookTwitterShare on LinkedinE-mail
The onerous provision in the health care reform law that would require businesses to file innumerable 1099 forms is on its way out. On April 5, the Senate passed the House version of a bill to repeal the provision by an 87 to 12 vote. The bill also contains an alternative way of raising the tax revenue that the requirement was projected to provide. The next stop for the bill is President Barack Obama, who has previously said publicly that he is in favor of such a measure. More

  Industry News

What are the top traits for financial planners?
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Financial expertise and personal character are the top qualities Americans look for when selecting a financial planner, according to the First Command Financial Behaviors Index. In a survey of middle-class Americans who work with a financial planner, 75 percent picked "knowledgeable" and "trustworthy" as the most important attributes they seek in a planner. "Honest" ran a close third at 70 percent. More

Health care act has saved $38 million so far
Senior Market Advisor    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Health care reform concessions from drugmakers, which led to discounts of 50 percent on prescription drugs, have saved Medicare beneficiaries $38 million dollars in just the first two months of the year, the Department of Health and Human Services is reporting. For Part D beneficiaries, the savings averaged $800 on out-of-pocket costs, while for the approximately 11,000 with very high drug costs, the savings averaged $1,775. Nearly 50,000 beneficiaries received the average savings, and millions more are expected to see savings through the end of the year. More

Study: Most Americans find their retirement goals unattainable
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According to the newly-released study called Shedding Light on Retirement, 55 percent of Americans don't know how to achieve their retirement goals. The ING-sponsored study, which polled 2,630 retirement investors, also revealed that while Americans want to be in control of their money, they're also overwhelmed because of lack of guidance. In an interview with Reuters, Lynne Ford, CEO of ING Individual Retirement, pointed out some of the major take-home points from the survey. More

Cole Information - Offers Online Quick-to-Access Targeted Prospecting
For more than 60 years Cole Information has helped businesses find new customers. In 1947, Jack Cole created a “criss-cross reference directory” that quickly became the standard sales tool for businesses across the country. Today that innovation continues with useful Web-based products that provide quick access to targeted prospects. Cole X-Dates and Cole Lists are powerful, cost effective list-building tools being used by financial professionals to grow their businesses. Find prospects for life, health, auto, home, business, multicultural, and many others with a click of a mouse. Cole Information is excited to offer FSP members a 15 percent discount. For more information, or even a free demonstration, call Cole Information today at 800-376-0552 or visit Cole Information and click on the product page.

  Regulatory and Legislative News

Treasury Department and IRS extend the deadline for filing Form 8939 beyond April 18
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The Treasury Department and the Internal Revenue Service recently announced that Form 8939 is not due April 18 and should not be filed with the final Form 1040 of persons who died in 2010. New guidance that announces the form due date will be issued at a later date and Form 8939 will be released soon after guidance is issued. Form 8939, Allocation of Increase in Basis for Property Acquired from a Decedent, is an informational return used to establish basis for income tax purposes of property acquired from a person who died in 2010. More

House Republican budget blueprint tweaks Dodd-Frank, sets back SEC
InvestmentNews    Share    Share on FacebookTwitterShare on LinkedinE-mail article
On April 5, House Republicans presented a blueprint for the fiscal 2012 budget that seeks to end what they see as an onerous provision of the Dodd-Frank financial reform law, dials back federal spending to a level that Securities and Exchange Commission officials say would hamstring the agency and recommends a tax overhaul that includes eliminating major tax breaks. Rep. Paul Ryan, R-Wis., chairman of the House Budget Committee, unveiled a plan that would cut an additional $6.2 trillion from the federal budget and reduce the deficit by $4.4 trillion more over the next decade than would the budget proposal President Barack Obama made in February. More

  Practice Management

Low frequency advisors' biggest communication concern
AdvisorOne    Share    Share on FacebookTwitterShare on LinkedinE-mail article
How often do you communicate with your clients? An SEI Quick Poll found nearly two-thirds of advisors don't think they communicate often enough. In fact, frequency was the most common concern, more than worries about being timely, concise or easy to understand. More

7 steps for cloning the ideal insurance client    Share    Share on FacebookTwitterShare on LinkedinE-mail article
There has been a lot of controversy the last few years around cloning — cloning of sheep, cloning humans, etc. When it comes to "cloning your best clients" there's no controversy at all. Every financial professional wants to acquire more clients that resemble their top clients. Here are seven steps to accomplishing that goal. More

FedEx® Offers Savings
FSP members can now enjoy real savings on envelope and small parcel shipments sent and received via FedEx®, one of the nation's premier small package carriers and an FSP Member Discount Company. FSP Members will receive discounts on domestic and international shipments with FedEx Express®, FedEx Ground®, and FedEx Home Delivery®. Save up to 27%* on select air shipments with FedEx Express; up to 15% on select shipments with equally dependable and economical FedEx Ground; and up to 10% on select shipments with FedEx Home Delivery, a residential service with a money-back guarantee. There is no cost to enroll for members, and there are never any shipping minimums to meet in order to get the discounts. For more program details and to enroll online, simply go to

*Includes a bonus 5% online processing discount. Full details are available at

  Society News and Programs

Lunch/Brunch conversation: 1 p.m.-1:45 p.m. EDT April 13
Society of FSP    Share    Share on FacebookTwitterShare on LinkedinE-mail article
"The Healthcare Tidal Wave: Dealing with Compensation Under MLR," moderated by Lee Bethel, CLU, ChFC, RHU, REBC and Gayle Holcom, CLU, ChFC, MBA. Talk with colleagues about how the "minimum loss ratio" will affect your dealings with clients. Details at April 13 Lunch/Brunch.

FSP's Member Discount Program can save you money on running your practice
Society of FSP    Share    Share on FacebookTwitterShare on LinkedinE-mail article
FSP's Member Discount Program can save you money on running your practice. Our newest participants in the Member Discount Program are The Business Source Leimberg Services, Inc.; LTC Consultants; Office Max; Pentera Group, Inc.; and Sprint. Visit Member Discount Program for these and all of FSP's Member Discount companies for great savings on practice-related products and services.

FSP NewsBrief
Colby Horton, vice president of publishing, 469.420.2601   Download media kit
Bianca Van Audenhove, senior content editor, 469.420.2611   
Disclaimer: The articles that appear in FSP NewsBrief are chosen from a variety of sources to reflect topics of interest to FSP members and other financial service practitioners. The inclusion of an article or advertisement in FSP NewsBrief does not imply that the Society of FSP endorses, supports or verifies its contents or expressed opinions. Factual errors are the responsibility of the listed publication. FSP NewsBrief articles may be protected by copyright and should not be reproduced without express permission of the copyright holder.

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