PLANADVISER Weekend Newsdash
Week ending June 28th, 2019

Happy Friday, readers! This weekend’s mailing offers a thought-provoking mix of stories on the ever-important topic of client service. These days, advisers are increasingly being called upon to provide support and education on such challenging topics as Social Security, intergenerational wealth transfers, retirement income and dealing with market volatility. All of these topics and more are explored in this edition of PLANADVISERweekend. We hope you will share some of what you read with a client or colleague.

Editor's choice
Annuities Are Potentially More Useful Today Than Ever
David Lau, founder and CEO of DPL Financial Partners, a firm that bills itself as a commission-free insurance network for retirement plan and wealth management fiduciaries, uses a personal story to explain the source of his deep interest in the topics of income insurance and annuities. Read more >
Parents and Kids Both Influence the Flow of ‘Modern Money’
Shifting attitudes about supporting adult children financially have helped reshape Americans’ thinking about wealth and retirement readiness, according to Ameriprise Financial survey data. Read more >
Self-Correction and Compliance Tips from Former IRS Attorney
There are many fiduciaries out there who are not educated on the voluntary corrections programs run by DOL and IRS. Former IRS staffer Lisa Tavares says they are taking unnecessary risk. Read more >
Americans’ Lack of Social Security Knowledge Shows
Tina Ambrozy, president of sales and distribution at Nationwide, warns of a major disconnect between what consumers think their Social Security benefit will be—and what this amount will cover—compared to reality. Read more >
Hardship Withdrawals Spiked, Loans Dipped After Bipartisan Budget Act
The Bipartisan Budget Act of 2018 made it easier for retirement plan participants to access hardship withdrawals without taking loans first; since passage of the law, hardships withdrawals are up 40% in Fidelity’s book of business. Read more >
As Bull Market Ages, Coaching Investors on Volatility Remains a Must
Novice investors’ reactions to stock market volatility present an endless and intriguing field of study for behavioral economists, but for financial advisers, poor client decisionmaking is a serious issue. 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.

Practice Management: Areas of Success

A look at what worked particularly well in 2020 and that could keep propelling growth in 2021.

HUB Names New Leader for Retirement and Private Wealth

PLANADVISER has learned that HUB International has named Joe DeNoyior as the new leader for Retirement and Private Wealth.

Democrats Have Won the Power to Fix Union Pensions
A bipartisan compromise solution to end the multiemployer pension crisis is urgently required, sources agree, and one could finally be forthcoming in the U.S. Congress.
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.
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