Wealth Management
Top stories summarized by our editors
2/20/2019

A company building a pipeline in Pennsylvania has reached out via email to subcontractors who worked on the project encouraging them to contact the surety for a contractor that collapsed. The company said the surety has already processed some claims but can only help subcontractors that follow the correct claims process.

2/20/2019

Millennials are typically risk-averse, and more than half have a risk-reduction strategy, according to a report from Nationwide Advisory Solutions. The report also showed millennials are more likely than older investors to use fixed annuities, fixed-indexed annuities and market-linked CDs.

2/20/2019

The Insured Retirement Institute has asked the National Association of Insurance Commissioners to "strive for consistency" with the Securities and Exchange Commission's Regulation Best Interest when it completes its revised Suitability in Annuity Transactions Model Regulation. "[I]ncorporating a uniform 'best interest' requirement into the suitability model would increase the likelihood that it will be applied consistently across state lines," IRI wrote in comments submitted to NAIC.

2/20/2019

Firms registered as brokers and advisors face a higher level of scrutiny from the Securities and Exchange Commission and must be careful not to run afoul of any regulations. One of the biggest issues for compliance officers is the custody rule provisions of the Advisers Act, attorneys note.

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SEC
2/20/2019

Finding the right employees is a common struggle for advisory firms, notes practice management consultant Beverly Flaxington, who says there are some opportunities businesses frequently miss during the recruiting process. She suggests firms be proactive in identifying new talent and keep an eye out for potential hires even when no positions are open.

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Advisor Perspectives
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Beverly Flaxington
2/20/2019

Florida, New Mexico and Delaware rank among the riskiest states in the US, according to a study by TheSeniorList.com. The study took into account cases of reported fraud, renting costs, poverty rates, violent-injury deaths among seniors and seniors living alone as a percentage of the state's entire population.

2/20/2019

A missing Form 42 prevented a widow in New Mexico from collecting her late husband's pension, as she was unable to prove she was the beneficiary. Estate-planning attorney Josh Dwyer says this is a common occurrence.

2/20/2019

The burden of building a financially secure retirement rests entirely on the shoulders of each individual, Christy Bieber writes. She poses three questions all retirement savers should be able to answer to determine whether they are on track.

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The Motley Fool
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Christy Bieber
2/20/2019

A federal district court has ordered a contractor that defaulted on a minor league baseball stadium project in Connecticut to indemnify its surety provider for $39.1 million.

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baseball
2/20/2019

A Vermont contractor celebrating 30 years in business says his company took off and started growing after obtaining its first surety bond. After completing several bonded projects, the contractor had the capacity to bond up to $15 million, which opened up even more opportunities for his firm.

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Insurance Corp.