Happy Friday, readers! Experienced advisers will likely agree that helping clients accept equity market volatility is one of their biggest challenges. Simply put, most advisers have learned how to cope with and understand the role of volatility, but their clients have not. The disparity between adviser and client perspectives highlights the importance of open, frequent communication—and of establishing and following a carefully constructed investment plan.
Despite slowing global growth, disparate inflation rates, and continued normalization of U.S. monetary policy, economists with Vanguard and J.P. Morgan Asset Management believe that a near-term recession will be avoided.
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If they do not embrace immigration in a big way, developed economies are likely to run into labor shortages that will curtail their growth potential; emerging markets will likely benefit from demographic trends.
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As the firm launches a new initiative to educate investors about active management opportunities, Putnam CEO Bob Reynolds says he is optimistic that an improved retirement landscape will take shape in 2019.
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Preliminary data shared by Alight Solutions shows the firm’s 401(k) trading index spiked on Monday October 29; investors making moves shunned growth assets and paid premium prices for fixed income.
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As recently as mid-2016 it was common to hear advisers describe significant market volatility as the new normal, but since then the global equity markets have been remarkably stable and generous; so it makes some sense, experts agree, that investors are feeling jittery as volatility returns to the fore.
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Arguments in the new case closely resemble previous lawsuits filed against other firms citing the ERISA fiduciary duties of prudence and of monitoring fiduciaries.
A new lawsuit suggests the individual advisory program TIAA clients were rolled into was significantly more expensive and generated hundreds of millions of dollars in fees for TIAA—without providing commensurate performance benefits.
