Products December 20, 2012

NFP, CEFEX in Strategic Relationship

National Financial Partners Corp. said it would begin providing resources for advisers to gain certification from the Centre for Fiduciary Excellence (CEFEX).
Reported by

Through this alliance—the first of its kind between CEFEX and an independent broker/dealer—NFP will provide advisers with access to resources and tools to support the process of becoming a CEFEX-certified investment fiduciary. National Financial Partners, a provider of benefits, insurance and wealth management services, said it recognizes the value proposition of advisers that choose to act as fiduciaries.

CEFEX is an independent organization that assesses the trustworthiness of investment fiduciaries. Its certification is a demonstration of adherence to all fiduciary practices as defined by an independent accreditation process.

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Calling the establishment of trust with clients paramount, Edward O’Malley, president of NFP’s corporate client group, said that CEFEX certification signifies an adviser’s commitment to providing objective financial advice held to a high professional standard. “As more advisers become certified as fiduciaries, we believe our corporate clients will benefit from access to the enhanced services that accredited financial advisers on the NFP platform will now be able to provide,” O’Malley said.

Diversions December 20, 2012

They’re Leaving on a Jet Plane

About 40% more people are planning holiday travel this year, according to a survey from an online travel comparison site.
Reported by

While an improving economy may have led to the uptick in people making travel plans for the holidays, about a third of those surveyed said a personal financial situation would keep them from travel. Last year’s travel survey, by LowFares.Com, showed a similar percentage of people pointing to personal finances as a reason preventing them from making travel plans.

This year’s survey saw 16% of respondents blaming worries over the fiscal cliff as a reason not to make travel plans. Slightly less than a quarter (23%) of those surveyed had not yet decided if they would travel during the holidays, and 37% of respondents who had travel plans, before Hurricane Sandy, to New York, New Jersey or New England, decided to cancel because of the storm’s impact.

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The year-end holiday travel survey shows signs that the travel industry is continuing to recover, said Raj Beri, general manager of LowFares. The past summer saw some initial improvements and has remained strong since then. “However, the survey also indicates that personal financial situations continue to keep a significant number of people from making holiday travel plans far in advance,” Beri said.

As a result, the company said they expect consumers to take vacations nearer to home and scour the Internet for last-minute deals.

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