Wealth Management
Top stories summarized by our editors
4/28/2017

The low inflation that has characterized a sluggish global economy appeared to be lifting over the winter months. But that now appears to have been a temporary effect of higher oil prices, and the forecast now is that the gloom will persist.

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global economy, Oil prices
4/28/2017

The Financial Services Institute has joined with other industry groups to urge newly appointed Labor Secretary Alexander Acosta to make extending the delay of the Department of Labor's fiduciary rule his first order of business. Two key aspects of the rule that affect advisors - the definition of who is a fiduciary to retirement plans and impartial conduct standards - are due for introduction on June 9, which FSI and others say is too soon.

4/28/2017

Annuity contracts with guaranteed-minimum-benefit riders could be a valuable way to help avoid the depletion of assets as longevity increases, writes Anthony Domino Jr. of Associated Benefit Consultants. Contracts with such riders "offer refund of premium or enhanced death benefits should one buck the longevity trend and pass away on the wrong end of the actuarial curve," Domino writes.

4/28/2017

Academic Julianne Holt-Lunstad told the US Senate Special Committee on Aging that loneliness is developing into a major issue that can drastically affect Americans' health and life expectancy. She contends that isolation should now be viewed as a health threat as dangerous as obesity, with an impact equivalent to smoking 15 cigarettes a day.

4/28/2017

Panelists at an industry event said observers are overestimating fintech's effect on the advisory market and that any meaningful change could take decades to occur.

4/28/2017

The Shrinking Emergency Account Losses Act would let workers continue placing money in defined-contribution plans after receiving a loan. The bipartisan bill also would provide additional time for the repayment of such loans after leaving a job, among other provisions.

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PlanSponsor.com
4/27/2017

Corgenius CEO Amy Florian encourages advisors to help clients prepare for inevitable effects of aging by drafting a diminished-capacity letter that names trusted contacts and covers power of attorney. She says starting this conversation early, before any decline in faculties, is important and applauds a Financial Industry Regulatory Authority requirement that advisors do their best to obtain such information from clients.

4/27/2017

The Shanghai Composite Index hit a three-month low recently just as US stocks ride a wave of positive sentiment after the election of President Donald Trump. The Chinese and US markets are the most out of sync than they've been in nine years.

4/27/2017

Puerto Rico might be able to repay only a fraction of bond debt, Gov. Ricardo Rossello says, while a plan for debt restructuring could shift to bankruptcy-type proceedings to decrease obligations. This could pose difficulty for hedge funds, which hold about one-third of Puerto Rican debt, because resolving the problem could take years.

Full Story:
Bloomberg
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hedge funds
4/27/2017

The hedge fund industry is in good health, despite challenges regarding fees and public perception, AIMA Chairman Simon Lorne says. Lorne also speaks in an interview about how the Trump administration, the Dodd-Frank Act and Brexit might affect the industry.

Full Story:
Reuters