Happy Friday, readers! What can we say at this point about the Brexit? Not much, experts caution, but in some ways that’s exactly the problem. Uncertainty surrounding the UK’s surprising choice to leave the European Union is already ruffling the global equity markets, with the DJIA and S&P 500 indexes each shedding nearly 3% of their day-opening value at the time of this writing. With that in mind, our weekly roundup newsletter offers up some suggestions for helping plan participants understand and accept the necessary role of volatility in investing.
More than eight in 10 advisers polled by Eaton Vance report fear is the primary motivator for clients. Advisers can deliver major value by helping clients overcome their initial reaction to market headlines.
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It is critical for advisers to consistently underscore the benefits of buy-and-hold investing so that when fluctuations do occur, the rationale and unyielding approach to investing has been firmly set.
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The latest decision out of the Fifth U.S. Circuit Court of Appeals throws a dramatic new element of confusion into the epic regulatory saga that has been the rollout of the Department of Labor fiduciary rule.
The firm says it does not have additional information to share at this juncture beyond what has been noted in a 2017 year-end SEC filing; in that newly emerged document, Wells Fargo Advisors says it has begun an internal investigation into “whether there have been inappropriate referrals or recommendations” made by its advisors, including with respect to rollovers for 401(k) plan participants.