Cloudy with a Chance of Lawsuits
If the fiduciary rule and its Best Interest Contract Exemption are here to stay, will they trigger a wave of lawsuits against advisory firms? No one seems to know for sure.
This Couple Needs Your Advice
These two people, ages 64 and 63, have a combined net worth of about $2.5 million. They're looking for ways to generate income in retirement. Here are some specifics about their finances. What would you recommend?
Morningstar Enters the Indexed Age
Just in time for the activation of the DOL fiduciary rule, Morningstar has expanded its Annuity Intelligence resources to include indexed and fixed annuities.
Complex Annuities for a Complex Era
Indexed variable annuities (IVAs) offer a potential solution for paralyzed clients—perhaps for those who feel baffled by a market where both bond and stock prices are at all-time highs. Allianz Life and Brighthouse Financial have just issued new IVA contracts.
Featured
The Tell-Tale Brokerage Statement
Judging by what I saw (and didn't see) in a friend's brokerage IRA statement, class action lawsuits for breach of the DOL Best Interest Contract might be a lot more common than anybody expects.
News
What Keeps Equities Aloft: Grantham
Low rates, high leverage, monopoly power, global brands and a friendly Supreme Court have all helped sustain corporate profits and keep P/E ratios high, writes the famous value investor.
Cloudy with a Chance of Lawsuits
If the fiduciary rule and its Best Interest Contract Exemption are here to stay, will they trigger a wave of lawsuits against advisory firms? No one seems to know for sure.
Reminder: Solve our retirement income case
Last week we presented the case of a couple, ages 64 and 63, with over $1 million in investable assets but no clue as to how to generate retirement income from it. (See 'This Couple Needs Your Advice' on the current RIJ homepage.) Please send your recommendations--even sketchy, general recommendations--to us by email on or before July 1.
Wealthfront angles for upmarket clients
The robo-advice firm has launched Advanced Indexing, a service that holds individual stocks to reduce costs and enhance 'tax-loss harvesting.' There are two levels of service, for clients with at least $500,000 or more clients with at least $1 million.
Research supports investing Social Security funds in equities
“Investing a portion (a maximum of 40%) of Social Security trust fund assets in equities would reduce the need for greater payroll tax contributions or benefit reductions,” said a new issue brief from the Center for Retirement Research at Boston College.
Most advisors still many megabytes shy of a digital practice, says Fidelity (owner of eMoney)
Only 40% of advisors are tech-savvy, according to the Fidelity 2016 eAdvisor Study sponsored by Fidelity Clearing & Custody Solutions (FCCS), a unit of Fidelity Investments.
Honorable Mention: Cimini goes to Voya, ‘smart beta’ coming to TDFs, and more
Brief or late-breaking items from Voya, Cerulli Associates, Financial Engines, and Nestle.
