Seventy percent of those with less than $45,000 in household income say they cannot afford to save for retirement.
Sixty-four percent of Millennials say they are confident about making investment decisions—but this soars to 85% when working with an adviser.
When it comes to the possibility of a uniform advice standard for advisers and brokers coming from the SEC, one attorney argues “things are still very much in a wait-and-see mode,” despite increased chatter among lobbying organizations about the possibility.
The inspiration to create BrightPlan was based on the idea that everyone deserves access to trusted, affordable financial advice that supports long-term financial goals.
Investors say the most important question an adviser can answer is how much can they afford to spend each year in retirement, according to a Dimensional Fund Advisors survey.
Leadership at both the DOL and SEC have signaled a willingness to work together to find complementary approaches to managing advisers’ conflicts of interest—but it will be a heavy lift to accomplish a uniform standard.
Yet only 20% have taken any step toward funding their long-term care expenses.
This can put a person’s retirement in jeopardy, The Pew Charitable Trusts says.
Presented here are the results of several dozen live polling questions fielded at the 2017 PLANADVISER National Conference, gathered during three days of highly detailed discussion of industry trends, challenges and best practices.
A judge disagreed with Ford Motor Company retirement plan participants that Xerox is a fiduciary because it had discretion over the amount of compensation it received from Financial Engines.
The difference owes to the pay gap between men and women, the tendency of many women to take a career break to raise or care for family, and women’s longer life expectancy.
J.P. Morgan Asset Management’s Anne Lester describes best practices and emerging strategies for helping plan sponsors deliver better participant outcomes in an evolving retirement landscape.
Advisers can help plan participants understand their hierarchy of needs, framing guidance to fit the context of whatever additional relief Congress may provide.
The firm says this “first of its kind compliance-approved text messaging solution for financial advisers” helps maximize convenient client communication.
Fifty-nine percent are unsure about who to go to for financial advice and guidance, a survey finds.
Participants of the of the Delta Family-Care Savings Plan sued Fidelity entities regarding excessive fees charged for the plan’s advice offering as well as its self-directed brokerage account (SDBA) option.
A majority of young investors believe human advisers can generate a better ROI than robo-advisers, a recent survey finds.
In addition, more than one-quarter of recent retirees say life is worse because of income and cost of living.
PwC says there is a great need for financial wellness programs, as 53% feel financially stressed, and that this costs employers with 10,000 workers $3.3 million a year in lost productivity.
Advisers can also use the platform to move clients from a fully-automated solution to a more collaborative arrangement as needs evolve.