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State tax collections dip, raising concerns about muni bonds
“Headline risk” associated with municipal bonds went up today when the U.S. Census Bureau released data that state government tax collections totaled $715.2 billion in fiscal year 2009. That's a decrease of nearly $67 billion (8.6%) from fiscal 2008.
Brightscope launches 401(k) fee tool for advisers, investors
BrightScope Inc., a provider of 401(k) plan ratings, today introduced a new online tool that provides investors with personalized data about how much they are paying in fees in their retirement plans.
Caterpillar settlement could make 401(k) advisers vulnerable to fee suits
Caterpillar Inc.'s announcement that it has reached a tentative settlement over the fees it charged its 401(k) plan participants may be bad news for plan sponsors, their advisers and mutual fund companies.
Employees name investment adviser in 401(k) suit
New targets have surfaced for lawsuits over 401(k) fees: small retirement plans, their investment advisers and service providers.
New ruling reopens window for taxpayers
The suspension of 2009 required-minimum distributions from retirement plans and IRAs was enacted as part of the Worker, Retiree and Employer Recovery Act of 2008, which was signed into law Dec. 23.
Lord Abbett offers discounts on new IRAs
Lord Abbett & Co. is offering discounts to clients who open an individual retirement account by April 15.
Aviva eyes guarantee wrapper with managed account or 401(k)
Although Aviva USA Corp. already has an established strength in its lineup of indexed products, the insurer has its eye on the next innovation: a guarantee wrapper with a managed account or 401(k), according to chief executive Christopher J. Littlefield.
Swiss unveil criteria for tax disclosure on private accounts
U.S. clients with more than 1 million Swiss Francs in offshore accounts with UBS could be ratted out.
Roth IRA can affect homebuyer credit
The latest version of the tax credit for first-time homebuyers has two new features that may make the credit more widely available, which means more clients with Roth conversion income may be affected.
Remembering a life of passion
If there is one word to describe Donald Robert Pitti, the financial planning pioneer who died Dec. 18 at the age of 80, it would be “enthusiasm.”
Adviser who led double life gets 17 years for $20M fraud
A judge in Massachusetts throws the book at an adviser who swindled the heirs of gilded-age industrialist Frederick Ayer, Jr.
Underserved market for advisers? Women
Advisers have a real opportunity to serve the needs of clients who are saving for retirement — especially women.
Is high unemployment an ugly long-term trend?
The nation's 10.2% unemployment rate — the highest level in 23 years — is being viewed by some analysts not as a peak but as the beginning of a sustained period of above-average unemployment.
Report: Target date funds expected to boom by 2018
Total assets in target date funds will grow to $2.6 trillion by 2018, attracting 80% of new and reallocated flows into defined-contribution plans for the next decade, according to a projection in a recent Casey Quirk & Associates LLC report.
Target date’s pain is target risk’s gain
In the wake of the performance meltdown of many target date funds, a growing number of 401(k) plans are adding target risk funds to their lineup.
Helping retired clients get back to work
Many of your retired clients are discovering that their accumulated savings are insufficient to meet their current expenses, which translates into a need for more retirement income.
AIG wins first round in lawsuit filed by financial planner
A judge in Los Angeles Superior Court pushed back a lawsuit against AIG from a financial planner who once worked for an AIG broker-dealer.
Family most sought out for financial help — not advisers
Americans are more likely to turn to family members and friends — rather than advisers — for financial advice, according to data from Sun Life Financial Inc.
SEC wilts on surprise adviser audits
The SEC is backpedaling on a proposal that would require advisory firms that deducted fees from client accounts to undergo costly surprise audits.
Industry groups feeling the pinch from the economy
The economic downturn is hurting the associations that represent financial planners, investment advisers and big brokerages.
