Wealth Management
Top stories summarized by our editors
8/16/2018

FS/KKR Advisor has finalized a $3.4 billion revolving credit facility set to mature in August 2023. The revolving credit facility includes refinancing for some existing credit facilities and will supply borrowing capacity to some of its business development companies.

8/16/2018

Mike Capelle, head of United Capital's technology platform, provides a guide for advisors looking to build an app for their practice. "Going forward, firms that don't either build an app independently or find a partner to help will struggle to survive," he writes.

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United Capital
8/16/2018

Amy Florian of Corgenius writes that advisors generally have a fixer mentality that may lead them to try to "explain the death in hopes of lessening the pain." She contends that this can be alienating to clients and offers suggestions for ways to approach the situation.

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WealthManagement
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Amy Florian, Corgenius
8/16/2018

Although it may seem the buying and selling of financial advisory firms is slowing, consultant Angie Herbers writes that these types of transactions are being dealt with in different ways. Firm owners are grouping clients by assets under management or into niches to sell to interested buyers, notes Herbers.

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Angie Herbers
8/16/2018

An analysis by the Center for Economic and Policy Research found that about half of people age 65 and older rely on Social Security for half of their income and about one-quarter get 90% of their income from it. The analysis also found that women and people of color rely on Social Security more than other groups.

8/15/2018

A surety company is seeking to recoup more than $2 million from a bankrupt oil and gas company. According to a lawsuit filed by the surety, the bonds had multiple claims against them.

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Louisiana Record
8/15/2018

The Planning Commission in Elko, Nev., plans to hold a public workshop on proposed updates to the city's subdivision code that should help clarify performance bond requirements. City officials say inconsistent enforcement of city codes has led to confusion among developers about performance guarantees.

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Planning Commission
8/15/2018

Ted Benna, sometimes known as the father of the 401(k), says advisers who set up the plans and help sponsors run them are paid too much. Advisers' roles "should shift to helping people focus on how to succeed at retiring successfully, not on investment return," Benna says.

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Ted Benna
8/15/2018

No advisor is too experienced to take notes, writes consultant Michael Goldberg, who lists note-taking along with four other advisor habits he says can help grow a business. Other habits include exchanging referrals with peers and always following up with business connections.

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Michael Goldberg
8/15/2018

A survey by Home Instead found that 53% of preretirees who plan to leave their job in the next five years anticipate going back to work at some point. The need to generate additional income was the most common reason given, but respondents also cited staving off boredom and keeping a sharp mind.

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