Products May 2, 2012

Warner Norcross Initiates Blog Focused on New Developments

 

The attorneys and securities compliance consultants at Warner Norcross and Judd LLP, a Michigan law firm, started a blog for broker/dealers, advisers and private investment funds.

 

 

Reported by

The tagline—“If SEC, FINRA or state regulatory agencies ever keep you up at night, this blog’s for you”—spells out the informative mission of the blog, “Compliance Corner,” to provide compliance tips, legal summaries and information about best practices.

The blog tracks changes in federal and state regulation, as well as litigation and enforcement developments. Recent posts cover topics such as new SEC exam-related guidance and FINRA’s proposed rule changes to expand the scope of simplified arbitration.

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“Our goal is to anticipate our clients’ compliance questions and help ease the headaches that regulatory changes can cause,” said Shane B. Hansen, co-chair of the law firm.

To read or subscribe to the blog, visithttp://compliancecorner.wnj.com/
 

 

Data & Research May 2, 2012

Advisers Say They Need Broader Education on Retirement Income Planning

A majority of advisers (93%) surveyed said they felt the need for more education on retirement income planning.  
Reported by

For the next 20 years, an average of 10,000 Baby Boomers will retire every day. It is not just the accumulation of assets that consumers need, according to a study by the news source InvestmentNews and The American College.

“For far too long, the financial services industry has concentrated its efforts on investors accumulating wealth,” said Laurence Barton, president and chief executive of The American College, a nonprofit educational institution for financial services.

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Advisers need a reliable planning approach to navigate the complexities facing consumers seeking to create a sustainable lifetime stream of income during retirement, according to the study of more than 670 respondents, which was conducted online.

“Retirees count on their advisers to help them achieve a sustainable income in retirement despite all of the risks of market uncertainty, rising health care costs, inflation and increasing longevity,” said David Littell, professor at The American College.

 

(Cont’d)

Some of the survey’s findings include:

•  The biggest challenges for advisers are having a systematic approach to planning, and choosing the strategies and products to generate lifetime income;

•  The most difficult risks to manage are market volatility, longevity and rising health care costs;

•  Ninety-three percent of respondents feel most advisers need to know more about retirement income planning;

•  Sixty-eight percent believe there is a need for a serious professional designation to retirement income planning; and

•  Sixty-nine percent believe that such a designation or certification would build more effective relationships with consumers.

The study follows the recent launch by The American College of its Retirement Income Certified Professional (RICP) curriculum and designation program.

The survey findings are available here.

 

  

 

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