PLANADVISER Weekend Newsdash
Week ending April 22nd, 2016
NOTE FROM THE EDITOR
It’s fair to say that the final fiduciary rule from the Department of Labor has stirred up a lot of emotion among retirement plan advisers and service providers, both positive and negative. In that sense the events of the past week present advisers with an opportunity to think about the pivotal role emotion can plan in client decisionmaking—and not just during the downturns. Collected below are some of PLANADVISER’s recent stories on the impact of emotion on financial services. 
Editor's choice
Financial Wellness Definition Must Consider Emotion
An analytical approach to financial wellness is helpful for some retirement plan participants, but “it’s often emotion that puts retirement money in motion.” Read more >
Discussing Inheritance Can Be Downright Uncomfortable
Three-quarters of wealthy families fail to discuss money and inheritance in ways that avoid misunderstandings and unintended consequences, according to a survey from Merrill Lynch’s Private Banking and Investment Group. Read more >
Worries About Aging Cut Both Ways for Clients and Families
Parents are worried about their independence as they age; kids are worried about their aging parents’ quality of life; parents are worried about their kids’ health and finances; and around it goes. Read more >
Millennials Have False Sense of Retirement Security
Millennials feel hopeful about retirement, despite the fact that many of them haven’t saved at all or don’t know their net worth. Read more >
Behavioral Finance Analysis Highlights Savings Commitment Issues
Americans may be increasingly eager to save according to some measures, but that doesn’t mean they’re excited about earmarking dollars for retirement, or that people are widely committed to the long-term side of savings. Read more >
MOST POPULAR STORIES
Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

Coronavirus Hardship Withdrawals, Taxes and Your Retirement Plan Clients
Coronavirus-related withdrawals made in 2020 were a financial lifeline for some, but they could also turn into a major tax headache for others.
Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
The Most Common Retirement Plan Testing Mistakes

By alerting plan sponsors to the issues they see most often, advisers can help their clients navigate IRS testing rules.

The Pandemic Has Brought Advisers’ Succession Planning to the Fore

At the same time, more demand for financial advice has many retirement plan advisers looking to stay in the business

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