Wealth Management
Top stories summarized by our editors
9/18/2018

Philanthropy is a good marketing tool for financial advisors, says Susan Kay, director of business development at MFS Fund Distributors. Kay, a speaker at the InvestmentNews Women Adviser Summit, offers examples that include hosting a dinner for clients and their friends that requires a donation to attend and contributing an auction basket to clients' charities that includes a certificate for "four hours of organizing your financial records in your own home."

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Susan Kay
9/18/2018

While interest is growing for environmental, social and governance investing, not many advisors invest this way, says Jeffrey Gitterman of Gitterman Wealth Management. "It's my job to tell clients where to invest their money, to release the demand for these assets," he said at the Sustainable Investing Conference.

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Bernice Napach
9/18/2018

Jack Guttentag, who has worked for the Federal Reserve Bank of New York and the National Bureau of Economic Research, suggests replacing the 4% withdrawal rule with the "retiree discretion rule." The latter factors in a retiree's age, gender, assets and expected life span, as well as expected inflation and return rates.

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Forbes
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Jack Guttentag
9/18/2018

Working longer to increase savings is not a viable retirement strategy, Mark Miller writes. Miller cites a study by David Blanchett, head of retirement research at Morningstar, that shows this strategy can work against savers if they must retire sooner than expected.

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WealthManagement
9/18/2018

Millennials' financial outlook is bleak because the population born between 1980 and 2000 doesn't save for retirement to the degree older generations do, is mostly financially illiterate and can't easily take retirement savings from one employer-sponsored program to another, experts said at a recent House hearing. James Lee, an FPA member and president of Lee Investment Management, said the financial industry must reach millennials through technology and digital platforms to change these trends.

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James Lee, FPA, House
9/17/2018

Social Security recipients could see the largest cost-of-living increase in seven years in 2019 at 2.8%, according to The Senior Citizens League, with the official announcement due next month. This is down from the group's previous estimate for a 3% increase.

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Senior Citizens League
9/17/2018

Student loans are taking a toll on millennials, Gen Xers and baby boomers, according to research by the Association of Young Americans and AARP. The study shows 41% of millennials, 38% of Gen Xers and 31% of boomers say student debt has gotten in the way of saving for retirement.

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AARP
9/17/2018

A data analysis by Pensions & Investments finds that hedge funds have offered downside protection since 2010 and have a 2.9% average three-year return when the S&P 500 enters negative territory. Other data from recent years show reduced fees and consistent allocations.

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Pensions & Investments
9/17/2018

Columnist Maryalene LaPonsie discusses some of the lesser-known benefits of 401(k) retirement plan. Among them, she notes that Roth 401(k)s don't have an income limit, there are possibilities for after-tax contributions, and the plans must comply with the Employee Retirement Income Security Act.

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Maryalene LaPonsie
9/17/2018

Advisors must update financial-planning services to deal with digital assets, such as passwords and online accounts, writes Jeffrey Levine, CEO of BluePrint Wealth Alliance. He suggests that advisors have clients inventory digital assets and that advisors become up to date on rules on digital assets in a client's home state.