J.P. Morgan Asset Management says that advisers should plan for 35 years in retirement for clients, rather than the previous 30 years, as average life expectancy continues to increase.
In February, the agency continued to retain 17.6 million tax returns from the 2020 filing season and about 5.9 million pieces of taxpayer correspondence that required manual processing.
Last year’s attempt to raise taxes on the wealthy has catalyzed conversations between advisers and clients about tax strategies this season.
Increased longevity makes it likely that future reforms will mandate a higher retirement age, according to a new report from the American Academy of Actuaries.
Bill would raise deduction cap for most and exclude millionaires. However, the plan is unlikely to be taken up in Congress anytime soon.
The firm reported a 9.4% decline in the number of advisers last year, but said it had 2½ times more recruited assets in 2021, at $929 million, compared to $363 million in 2020.
The length of the marriage, whether the individual claiming benefits has remarried, and the age at which they're claiming all affect benefit amounts.
Should a client use old tables, new tables, both tables or no tables to calculate their RMDs this year? It depends ... and advisers need to know the answer.
A study by the Center for Retirement Research finds that a third of 401(k) participants would choose to delay collecting benefits if they could use 401(k) assets as a temporary substitute.
Expect delays as the Social Security Administration's field offices reopen to the public after closing in March 2020 amid the pandemic.
As the next generation of investors comes on board, advisers are repeating the age-old mantra about not panicking in response to market swings.
Social Security's 1,200 field offices have been closed since March 2020 in response to the pandemic.
Financial advisers could fill the void when it comes to clients' questions about when to claim benefits.
Many of the processing delays and customer service shortages that have plagued the IRS for years will persist this year, Treasury officials warn.
If Congress finally comes to an agreement on the bill, some provisions could be retroactive. The state and local tax deduction hangs in the balance.
As firms chase scale with bigger and bigger deals, RIA sellers are enjoying the ride of record-level valuations.
Survivors are subject to an earnings limit if they claim the benefit before reaching full retirement age.
The agency has not set a reentry date for in-person appointments, although some executives have returned to their offices as of December.
There's good and bad news on the horizon, including the biggest annual cost-of-living increase in 40 years, but also an offsetting rise in Medicare premiums.
Medicare high-income surcharges combined with higher Medicare premiums will take a bigger chunk of retirement benefits in the new year.
