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Convert to a Roth? Decision depends on many unknowns
To deal with the “Roth revolution” that starts next year, advisers' best tool may be a crystal ball.
Mass affluent leaving brokers, making indie advisers their top choice, Spectrem finds
After a year in which many investors lost substantial chunks of their wealth, mass affluent individuals are ditching their full-service brokers in favor of independent financial planners at a significant clip, according to a report released today.
Advisers staring at a new ‘slew’ of litigation from small-business clients
Financial advisers who have sold certain types of retirement and other benefit plans to small businesses might soon be facing a wave of lawsuits — unless Congress decides to take action soon.
Roth IRA conversion confusion creates opportunity for advisers, Schwab study finds
The pending rule changes around Roth IRA conversions present a huge business opportunity for financial advisers to have deeper conversations with clients, according to a new survey by Charles Schwab & Co. Inc.
How helping the unemployed can help your practice
At a recent workshop, advisers told me they are finding that a surprisingly high percentage of their clients are unemployed. Advisers found this out during client reviews, and they said the news surprised them — clients had never called to let them know about their new circumstances.
In the balance: 401(k) participants lose one-third of their assets
The average 401(k) participant lost nearly one-third of their retirement account assets last year because of the market downturn, according to a report released this morning by the Investment Company Institute and the Employee Benefit Research Institute.
Most advisers concerned about succession plans, survey reveals
Although financial advisers think that succession planning is important, many also believe that they aren't getting enough help preparing for that transition, according to a new survey conducted by Mathew Greenwald & Associates Inc. for John Hancock Financial Network.
Investment advisers optimistic about the final quarter of ’09
A new survey suggests that independent investment advisers are becoming more optimistic about the economy.
Key lawmaker: Kill 401(k) indie-adviser proposal
Legislation moving through Congress that would sharply limit what kinds of advisers can counsel 401(k) participants should not be passed, Rep. Earl Pomeroy, D-N.D., said today.
“Roth revolution” just around the corner, adviser predicts
The elimination of the income limit on Roth IRA conversions starting next year could lead to a “Roth revolution,” according to David Polstra, a partner at the advisory firm Brightworth Private Wealth Counsel.
Virtual adviser to the mass affluent gets a little more sophisticated
Back in May, we introduced you to Sophie, SimpliFi's free virtual financial planner. Well, Sophie's grown up since then. As of today, she's gotten a lot more sophisticated, at least for the customers of financial institutions such as credit unions and banks that provide SimpliFi LLC's Planning Service Plus to their customers.
Advisers leaving clients in the dark about Roth conversions, poll shows
The majority of investors who work with advisers are not aware that income limits associated with the conversion of a traditional IRA to a Roth IRA will be lifted in January, according to a survey conducted by Fidelity Investments.
401(k) balance tipping to the young
Same market, different outcome.
Financial adviser jumps into race for U.S. Senate seat
A financial adviser from northwest Arkansas said he's seeking the Republican nomination to challenge Democratic U.S. Sen. Blanche Lincoln, joining an increasingly crowded field of GOP hopefuls.
Congress won’t permit lower cap on 401(k) contributions, top lawmaker says
Congress is not likely to permit the IRS to lower employee 401(k) contribution limits, even if inflation continues to decline, said a leading House Democrat.
John Hancock retirement unit to open up its retirement plan products to Edward Jones
John Hancock Retirement Plan Services today kicked off a relationship with Edward D. Jones & Co. LP, providing the firm's financial advisers with access to its retirement plan products.
Companies reinstate their 401(k) matches – slowly
Companies are starting to restore matching contributions to their 401(k) plans after extensive cost- cutting and signs of improvement in the economy.
FPA’s head lobbyist to step down
The chief lobbying official for the Financial Planning Association is stepping down this month.
Hard times lead to hardship withdrawals from 401(k) plans
Tapping 401(k) retirement funds to meet expenses is a last resort for many investors, but the relentless economic downturn took its toll this year, as hardship withdrawals saw double-digit increases, according to record keepers.
Hartford consolidates distribution units for retirement plans, individuals
The Hartford Financial Services Group Inc. yesterday formed Hartford Life Distributors, an entity that consolidates its distribution forces for 401(k) plans and individual products.
