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Weekday news and analysis for retirement plan advisers
Friday, June 30, 2023
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Rookie Financial Advisers Are in Short Supply 
PA-062923-Cerulli-Rookie-Financial-Advisers-Are-in-Short-Supply-1149749682-web
High wash-out rates force firms to focus on recruitment and retention, according to Cerulli.
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Investment Product and Service Launches
FundFront introduces white label alternative investment platform; Wealth.com unveils AI legal assistant; Schwab to launch the Schwab High Yield Bond ETF.
Today’s Most Read
1. Nearly Half of Retirees Have No Formal Decumulation Strategy
2. Firefighter Pension Complaint Alleges Insider Trading by United Health Execs, Including Slain CEO
3. 401(k)s and the Courts in 2025
Employees Can’t Deduct Wellness Indemnity Plans From Their Taxes, IRS Says
Workplace wellness indemnity programs funded through salary withholding cannot be tax deductible if that money is used for non-medical reimbursement.
John Hancock Retirement CEO Stresses Importance of Financial Adviser Relationships
The new retirement CEO sees a “heightened” interest from wealth managers in engaging with workplace retirement plans and participants.
Maximize Plan Committee Meeting Times
Plan committee meetings are often the main face-to-face time that advisers have with their clients and are crucial times for the committee to use good plan governance in making its decisions. Thus, it is key for the adviser to help focus the meeting topics, to initiate effective discussions about needed plan changes, and to help the group discuss complex decisions constructively.
Market Mirror Market Mirror Graph

Thursday, the Dow rose 269.76 points (0.80%) to close at 34,122.42, the Nasdaq fell 0.42 points (0.00%) to close at 13,591.33 and the S&P 500 rose 19.58 points (0.45%) to close at 4,396.44. The Russell 2000 gained 22.88 points (1.23%) to close at 1,881.59, and the FT Wilshire 5000 Index gained 215.10 points (0.49%) to close at 44,379.35.

The price of the 10-year Treasury note decreased 32/32, bringing the yield to 3.842%. The price of the 30-year Treasury bond decreased 16/32, brining the yield to 3.901%.

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