PLANADVISER Weekend Newsdash
Week ending June 19th, 2020

Greetings loyal PLANADVISER readers! Coming on the third Friday of the month, this weekend’s mailing is dedicated to the timely and evolving topic of financial wellness. While the topic has been an important focal point for several years now in the retirement plan advisory space, the coronavirus pandemic has cast an entirely new light on the concept of financial wellness. Simply put, the virus has exposed financial fractures and weak points impacting individuals across the income spectrum, putting the onus on advisers to help people create a sense of stability and confidence about their short-term finances.

Editor's choice
Economic Murkiness Won’t Soon Dissipate
One economist says there is so much noise in the data that it’s hard to assess where we are right now, let alone where things are going from a macroeconomic perspective. Read more >
Simple Steps Toward Retirement Certainty in Uncertain Times
Many people don’t know as much as they should about retirement and investments. There is no time like the present to learn. Read more >
Surprising Findings in Savings Analysis Suggest Salary Matters Less Than Assumed
A new analysis published by EBRI in collaboration with J.P. Morgan suggests a person’s spending habits, rather than their salary, seem to have the biggest influence on whether they are a low saver or an average saver. Read more >
How Coronavirus Has Impacted Investor Confidence
Data collected immediately before the pandemic shows retirement confidence was about as high as it’s ever been; more recent data shows that’s still the case, though shorter term worries are ballooning. Read more >
Financial Wellness in the Age of Pandemics
Pandemics are not only a public health crisis, but also a crisis of employee confidence. Tech-savvy advisers and employers can help. Read more >
In Times of Stress, Timely Communications Make a Big Difference
New data shows the education and guidance firms are providing is helping individuals to stay the course. Read more >
MOST POPULAR STORIES
Plaintiffs Claim Deloitte Breached ERISA Prudence Duties

Arguments in the new case closely resemble previous lawsuits filed against other firms citing the ERISA fiduciary duties of prudence and of monitoring fiduciaries.

Only 31% of Hispanic Workers Participate in a Workplace Retirement Plan

Morningstar says there are several factors besides lower income that could contribute to the lower savings relative to other demographic groups.

TIAA Faces New Managed Account Rollover Complaint Months After Settling SEC Charges

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.

A Year of Disruption Spotlights Tech, Cybersecurity

Advisers are increasingly focused on Social Security marketing, technology that can deliver investment personalization, and cybersecurity.  

Well-Funded HSAs Are a Retirement 'Superpower'

Having an HSA going into retirement is ‘incredibly powerful,’ experts say, because money is being saved and spent as efficiently as possible.

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