Happy Friday, readers! In the last several weeks PLANADVISER has received volumes of 2017 market outlook commentary, offered up by a variety of respected retirement industry providers. While investment and asset management markets are always undergoing some change, providers today say they are seeing clients and the competition evolve faster than ever. Adding to regulatory pressure, global growth challenges and political uncertainty are expected to persist during the year. As volatility climbs and correlations fall, conviction will be crucial for investors during the year to come.
The year that concluded in December started with one of the worst opening months for the equity markets on record, followed by a strong rally in Q4 that delivered solid annual returns; what will 2017 bring?
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Data provided by Fidelity shows organic growth among RIA firms dropped to lowest level in five years; yet there is reluctance to take on major change in terms of pricing and value proposition.
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With the passage of the SECURE Act by the House of Representatives, experts tell PLANADVISER they are optimistic that agreement will be reached with the Senate during this Congress, but the many supporters of retirement reform will have to wait and see how compromise might be reached.
MassMutual says a married couple that lives into their 90s but decides to begin their Social Security benefits at age 62 as opposed to age 70 could be leaving as much as half a million dollars on the table, or forfeiting $2,000 to $4,000 a month for life.
One retirement industry executive says she believes the Senate could act quite quickly in taking up the SECURE Act, which just passed the House of Representatives with a practically unanimous yea vote.
Retirement plan advisers with established 401(k) businesses are finding new revenue streams and client engagement opportunities among nonprofits and educational institutions, and in the area of estate planning.