Wealth Management
Top stories summarized by our editors
6/15/2018

Warm, sunny Florida is a no-brainer destination for many retirees, but finding just the right city or town to settle is another matter. The Penny Hoarder taps some hard data to evaluate factors such as home values and poverty rates to recommend eight attractive Florida locales.

6/15/2018

The International Monetary Fund estimates that the US annual growth rate will be as low as 1.4% in five years, a figure below the Federal Reserve's estimate of 1.8% and considerably less than the White House's forecast of 3%. While the IMF notes that the economy is currently enjoying the benefits of the recent US tax law changes, it contends that fiscal deficits incurred by the Treasury will exert significant downward pressure on continued growth.

6/15/2018

In an effort to boost sales and better serve changing markets, annuity companies are making changes to both their products and distribution channels, according to a report from Novarica. Among the changes the report lists are shorter minimum income deferral periods, more fee-based products, more death benefit options, upgrades to online portals and more direct-to-consumer offerings.

6/15/2018

Schwab's 2018 ETF Investor study found that 91% of millennials strongly or somewhat agreed that exchange-traded funds were their top investment choice. That compared with 80% of Generation X members and 54% of baby boomers, according to the study.

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Schwab
6/15/2018

The Financial Industry Regulatory Authority says its new web-based Central Registration Depository, which will provide data for BrokerCheck, will cut compliance costs for advisors and increase efficiency. The new system is expected to go live at the end of the month and will highlight important information and activities that need firms' immediate attention, the regulator said.

6/15/2018

The Securities and Exchange Commission's Investor Advisory Committee met with members of the financial-advisory industry Thursday for a discussion on the SEC's proposed best-interest rule. Dale Brown, president and CEO of the Financial Services Institute, says FSI is in support of "two-tier disclosure," adding, "More disclosure does not result in better disclosure."

6/15/2018

A number of advisors offer suggestions for building trust with high-net-worth clients, who may be skeptical and less likely to open up right away. These include connecting with clients on a human level by finding a shared interest and communicating that you understand the challenges of wealth.

6/15/2018

Professional skateboarder Tony Hawk discusses his journey as a young high-net-worth client seeking financial advice after making a few mistakes with a do-it-yourself approach to financial planning. The group he eventually found to be the right fit was willing to take new approaches and a bit more risk, and the advisors "didn't speak down to me, and that was key," Hawk says.

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Tony Hawk
6/15/2018

Steve Wendel, Morningstar's head of behavioral science, says increasing savings to 6% and delaying retirement to age 67 could help 72% of Americans hit their retirement goals. Wendel also notes that advisors should encourage healthy competition in their younger clients by sharing comparative information about how much their peers are saving.

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Morningstar
6/15/2018

With the onus to fund retirement primarily on working Americans, Capital One Advisors' Stuart Robertson recommends three tips for developing a realistic retirement strategy. One key is assigning priority to retirement over children's needs, he writes.