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A talent shortage looms as the industry booms InvestmentNews Share    
The profound demographic trend that is boosting demand for investment advice — the millions of baby boomers retiring or planning their retirement — is also threatening the financial advisory sector with a talent shortage. Even as more and more older Americans seek advice on bolstering their nest eggs, advisors themselves are looking to head off into the sunset. Too few younger advisors are in the pipeline to replace them. More
Advisors stepping up with tax tips accountants are ignoring InvestmentNews Share
In the good old days, wealthy taxpayers turned to accountants to manage their investments in a tax-efficient manner, but today they are likely to expect some help from their financial advisors, too. "If you get the structure of their portfolio right, you can create lower tax opportunities," said Robert S. Keebler of Keebler & Associates LLP, a financial planner and tax advisor. Especially with the coming tax law changes, it is more important than ever to begin tax planning even before drawing up an asset allocation plan. More Survey: Most workers lack disability insurance The New York Times (blog) Share
A new survey commissioned by the Consumer Federation of America reveals that two-thirds of Americans who work in the private sector lack disability insurance, even though the majority of workers say missing work for three months or more due to sickness or injury would cause "financial hardship." Depending on the terms of the disability plan, payments can begin as soon as a week after an employee stops working and cover approximately 60 percent of his or her wages or salary. The report noted that 90 percent of all disability claims are for common illnesses and health conditions instead of from injuries, according to data from the Council of Disability Awareness. The Society of Actuaries says that once someone is disabled for 90 days, the average length of disability is two years. More
Using life insurance to fund your retirement Insure.com via Fox Business Share
More people are buying life insurance not only to leave money for spouses, children and other relatives, but also to supplement their retirement income. They are accomplishing this through permanent or cash value insurance, available as whole life insurance, universal life insurance or variable life insurance. They also benefit from the tax-deferred component, which means the growth that occurs inside the policy is not subject to current taxes. Experts say that they can overfund the policies and eventually withdraw the money tax-free, and unlike stocks, they do not have to sell the asset to extract cash. More Social Security: Trust fund in the red by 2033 CBS MoneyWatch Share
The Social Security Trustees' annual report on the state of the government retirement and Medicare trust funds is out, and the news is worrying: A challenging economy and higher energy prices have hurt the entitlement programs. The combined Social Security trust funds are expected to be exhausted in 2033, three years earlier than projected in last year's annual report. Medicare's finances have stabilized, but the hospital insurance fund is still projected to run out of money in 2024. More
Auditors: Keep SEC as investment advisor watchdog CFO Share
Urging Congress to keep oversight of investment advisors with the SEC, the American Institute of CPAs recently slammed the Investment Adviser Oversight Act of 2012. Introduced in the House of Representatives on April 25, the bill would transfer oversight of investment advisors from the SEC to a self-regulatory organization. Section 914 of the Dodd-Frank Act directs the SEC to conduct a study of the need for more resources to examine investment advisors and enforce its standards on them. On Jan. 19, 2011, the SEC issued a staff report that found the current SEC-registered investment-advisor examination program faces hefty capacity and funding challenges. More
The reactivation plan: How to turn inactive clients into productive ones On Wall Street Share
Every advisor has a few small clients that seem to have fallen by the wayside. They call you infrequently, or not at all, have few assets under management and often simply take up space on your client roster. How can you turn the tables and get these smaller, inactive clients to potentially become your best clients? More Social media tips for professionals Entrepreneur Share
Specific industries have specific challenges when it comes to social media. Below, are some some useful tips and techniques for those who work in the financial planning, real estate and legal professions. More
FSP's Diversity Advisory Group would like your input Society of FSP Share
Your Society of Financial Service Professionals is committed to staying current and relevant for financial advisors in today's changing markets. This includes those working in a variety of practice specialties as well as increasing numbers of female practitioners, young professionals, and those from different ethnic cultures and backgrounds. To establish benchmarks to track progress for the growth of FSP diversity efforts, we would greatly value a few moments of your time to complete the attached survey. Participation is optional, and responses will be confidential and anonymous unless you wish to identify yourself for follow up from a member of the Diversity Advisory Group. Thank you for your response and thoughts on how FSP can reach and serve new groups of members. Helping Your Clients Create Their Charitable Legacy while Protecting Your Bottom Line Society of FSP Share
Free to FSP members, this May 9 webinar features Director of Gift Planning Laura Malone at American Endowment Foundation, who will share real-life examples of how you can help your clients create more charitable leverage and use these best practices to enhance your value as the trusted advisor. Register today for this Sponsored Education Online program. |
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