Seven industry notables offer their views on what the financial advice business will look like in coming years.
The 15% hike in the Medicare Part B premium is one of the largest annual increases in Medicare’s history, as COVID-related expenses and a new Alzheimer drug drive costs higher.
At the same time, the average IRA balance saw a slight uptick. A recent survey shows many people have low estimates of how much they will need to retire, and a paper explores the need to update the 4% rule.
As more advisers and pundits lean toward heavier allocations to stocks over bonds, there are still ways and reasons to benefit from fixed income.
House Democrats have proposed increasing the cap to $80,000 from $10,000 through the end of the decade; Senate Democrats are working on a less generous option.
The deal expands Creative Planning’s presence in the retirement plan business by about $110 billion and gives it access to the large-plan segment of the 401(k) market.
ESG is only used in 5% of corporate DC plans, according to Callan. Use by institutional investors also varies a lot by geography.
Contributions to health savings accounts can trip up enrollment after the age of 65.
The legislation would also expand access to workplace plans by creating more opportunities for part-time workers to join and allowing 403(b) plans to participate in multiple-employer and pooled employer plans.
Investors may bristle at the mere mention of tracking error—but that’s what helps them keep more of their money while maximizing their after-tax returns.
Last week’s announced purchase of Newport Group by Ascensus comes on the heels of Empower’s purchases of MassMutual’s and Prudential’s record-keeping divisions.
As fund companies start to post annual tax distributions, more than 110 funds are already showing capital gains distributions of more than 20%.
The law firms that filed the case point to record-keeping fees that were higher than those for other plans they identified.
The IRS is also increasing the income ranges for eligibility to make deductible contributions to traditional and Roth IRAs, as well as to claim the Saver’s Credit.
Congress has retirement accounts in its sights for future tax increases, but financial advisers can help their clients make some defensive moves now.
As retirement plans shifted from employer funded to employee funded, that has also happened over the past decade with health care plans.
Does it make sense for advisers to enter this space and compete? Sending those clients off platform and hoping to get them back when work separation occurs seems illogical.
Discover 5 of the most common misconceptions your female clients may have about Social Security and how you can help them maximize their benefits as part of an overall retirement strategy.
The measure would place limits on individual retirement accounts, including preventing contributions to accounts once they reach $10 million, and give the IRS more oversight over them.
There's a war for talent heating up, fueled by the Great Resignation and more workers retiring as a result of the pandemic, which makes benefits more important than ever.