Wealth Management
Top stories summarized by our editors
3/22/2019

When asked by Bankrate about the best retirement plans available to workers, David Littell, a professor at The American College of Financial Services, spoke highly of deferred income annuities, noting that he has purchased one for himself. He said it felt "very satisfying" to be building a lifetime income stream over time.

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Bankrate
3/22/2019

The Variable Annuities Issues Working Group of the National Association of Insurance Commissioners is looking into what method should be used to determine the amount of capital an insurer should have to back its variable annuity obligations. Actuaries hired by NAIC recommend the stricter company-specific market path approach, but others favor the conditional tail expectations with prescribed assumptions method.

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NAIC
3/22/2019

TIAA has enhanced the capabilities of its retirement profile tool. The tool analyzes account data in real time and shows users how they can create a steady retirement "paycheck" by combining systematic withdraws with lifetime income sources such as variable and fixed annuities, Social Security and pensions.

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PlanAdviser online
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TIAA
3/22/2019

Retirement-plan provider VALIC will undergo a phased rebranding to AIG Retirement Services this year, President Rob Scheinerman. The rebranding looks to "[leverage] the strength, scale and brand of our parent company," he said.

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PlanAdviser online
3/22/2019

There are three tactical strategies that advisors should keep in mind when working with high-net-worth clients, writes Matthew Sommer of Janus Henderson Investors. Research shows wealthy retirees are not spending as much as they should be, are frequently the target of financial exploitation and may be missing out on global dividend opportunities, he writes.

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Janus Henderson Investors
3/22/2019

Advisors need to be proactive to attract and retain female clients, says Nalika Nanayakkara of EY, who notes widows often change financial advisors after their spouse passes away. Goals-based planning is more valued by women, Nanayakkara suggests, adding that this type of planning helps advisors develop relationships and boost retention.

3/22/2019

Prospects sometimes lie, but that may be because they are trying to be nice or don't know how to appropriately answer a question, writes John Pojeta of The PT Services Group. To get to the truth, he suggests financial advisors push for specifics and frame conversations in ways that make it difficult to avoid the truth.

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John Pojeta
3/22/2019

A social media experiment showed sales coach Dan Solin how important it is to diversify his social media efforts. He found that his video blogs and short comments received much more attention than written blog posts, but notes that high-quality articles give an advisor credibility.

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Advisor Perspectives
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Dan Solin
3/22/2019

Positive customer experience, or CX, is key for a brand's success, writes Claudio Pannunzio, managing director of Curex Group Holdings. To optimize customer experience, advisers should maintain a clear company vision, put clients first and engage clients through multiple channels, among other things.

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Claudio Pannunzio
3/21/2019

Retirees who delay taking Social Security beyond full retirement age are eligible to receive up to six months of benefit payments in a lump sum in addition to their monthly payments, writes Mary Beth Franklin. However, she notes there are several trade-offs, including increased tax liability and the possibility of increasing income to a level that triggers high-income surcharges on Medicare premiums.

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Mary Beth Franklin, Medicare