1. Articles from NAPA Net

    napa-net.org

  2. 1-24 of 182 1 2 3 4 5 6 7 8 »
    1. Consumers May Have ‘Blind Spot’ When It Comes to Retirement Fraud

      Consumers May Have ‘Blind Spot’ When It Comes to Retirement Fraud

      Consumers tend to worry about “high-touch” products, such as credit cards and bank accounts, more than they worry about long-term savings accounts, such as their workplace retirement plans and IRAs, a new study warns.

      Nearly 80% of American consumers are concerned about financial fraud, according to a LIMRA Secure Retirement Institute study, “Financial Fraud and Retirement Accounts: An Opportunity to Engage, Educate and Build Trust.” And even though a quarter report they have been a victim of financial fraud, the levels of concern vary significantly across the different types of financial products.

      Concern about credit card fraud was found to ...

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    2. How is the Government Shutdown Affecting Plan Advisors?

      How is the Government Shutdown Affecting Plan Advisors?

      The federal government shutdown, now entering its 14th day with no end in sight, is beginning to affect investment and retirement plan advisors who interact with the SEC and IRS.

      Some may assume the shutdown is affecting all government agencies, but that is not the case. In fact, many agencies are fully funded for fiscal year 2019, which runs through Sept. 30. For example, the Labor Department – including the Employee Benefits Security Administration – is fully funded and operational.

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    3. SEC’s Stein: Saving Should Not Be Harder Than Spending

      SEC’s Stein: Saving Should Not Be Harder Than Spending

      At a recent event in Washington, SEC Commissioner Kara Stein provided her take on retirement readiness in the United States and what she thinks can be done to improve it.

      In a conversation with the Brookings Institution, Stein painted a sobering picture. “Although everyone’s ideal retirement might look a bit different, we all share the desire to have financial security that will allow these dreams to come true.

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    4. The Birth of a Notion

      “Unintended consequences” are generally a bad thing. But not always. The 401(k), for example.

      Today is being celebrated as the birthday of the 401(k) – because it’s the anniversary of the day on which the Revenue Act of 1978 – which included a provision that became Internal Revenue Code (IRC) Sec. 401(k) – was signed into law by then-President Jimmy Carter.

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    5. 3 Reasons Why Retirement Savers Don’t Work with a Financial Advisor

      3 Reasons Why Retirement Savers Don’t Work with a Financial Advisor

      Retirement plan participants who work with a financial advisor are more confident about their retirement preparation, yet survey results show that just 4 out of 10 participants use an advisor.

      So why do 60% of participants indicate they are not working with an FA? According to a new OneAmerica online survey, there are wide misperceptions over affordability and applicability driving participants’ hesitancy. And the gender gap apparently is getting even worse.

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    6. And the Most Over-Hyped Retirement Industry Trend Is…

      And the Most Over-Hyped Retirement Industry Trend Is…

      Ours is, of course, an industry in which staying current, much less getting ahead, can be a more than full-time focus. But when it comes to the most “over-hyped” trends – well, NAPA Net readers found it to be a “target-rich” environment.

      We provided readers with a long list of potential candidates – and given an opportunity to select as many as seemed applicable, readers identified the following:

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    7. Misbehavioral Finance

      It’s hard to believe it’s now been 10 years since the 2008 financial crisis. Let’s face it — no matter how busy or hectic your week has been, I’m betting it’s been a walk in the park compared to those times.

      Yes, it was just 10 years ago this week that Lehman Brothers filed for bankruptcy — the same day that Bank of America announced its plans to acquire Merrill Lynch, and a day on which, not surprisingly, the Dow Jones Industrial Average closed down just over 500 points.

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    8. Are Early Retirement Account Withdrawals the New Norm Among Young Investors?

      Are Early Retirement Account Withdrawals the New Norm Among Young Investors?

      Whether it’s overconfidence or something else at work, a new study reveals that early retirement account withdrawals among young investors have been trending upward over the last few years.

      E*TRADE Financial Corporation’s most recent issue of StreetWise, the firm’s quarterly tracking study of experienced investors, finds that nearly 60% of young investors admitted they had made an early withdrawal from their retirement account in 2018.

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    9. Retirement Planning Tools, Financial Wellness Top Participants’ Wish List

      Retirement Planning Tools, Financial Wellness Top Participants’ Wish List

      When ranking their interest in retirement education, employee plan participants are most interested in financial wellness and better understanding retirement planning resources available to them, new survey results reveal.

      Of the more than 9,200 participants who took part in CUNA Mutual Retirement Solutions’ 2018 Retirement Education Preferences Survey, nearly a third of each age group (29% of 18- to 34-year-olds, 29% of 35 to 49-year-olds, and 30% of plan respondents 50 and up) said they know their plan but want help understanding the available tools and resources.

      According to the authors, this finding suggests that employees are interested in ...

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    10. ARA Submits Comments to SEC on Proposed Regulation Best Interest

      ARA Submits Comments to SEC on Proposed Regulation Best Interest

      The American Retirement Association today weighed in on the SEC’s proposed Regulation Best Interest standard.

      Overall, the ARA’s Aug. 3 comment letter commends the commission’s efforts to tailor the proposed rules to “preserve investor choice with regard to business models and compensation practices in a manner that is workable for broker-dealers and investment advisers alike,” but does offer a number of recommendations.

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    11. ‘Multiple’ Choices: All MEPs Not Created Equal

      Delegates to last week’s NAPA DC Fly-In Forum had a lot to learn and say about a wide array of topics – but multiple employer plans (MEPs) dominated the discussion.

      The reason, as has been noted in previous coverage on NAPA Net, is the Small Business Employees Retirement Enhancement Act, introduced earlier this month by Sen. Tom Cotton (R-AR), which includes provisions regarding so-called “open” MEPs, a type of employee benefit plan that can be maintained as a single plan in which two or more unrelated employers participate. This is a concept that has received bipartisan support on Capitol Hill ...

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    12. Comments on SEC’s Proposed ‘Best Interest’ Regulation Run the Gamut

      Comments on SEC’s Proposed ‘Best Interest’ Regulation Run the Gamut

      The Securities and Exchange Commission’s August 7 deadline for submitting comments on its proposed regulation best interest, Form CRS relationship summary and interpretation regarding standard of conduct is quickly approaching.

      No doubt the agency will receive numerous comments in the days ahead, but a review of some of the comments the agency has received so far reveals a wide range of opinions on the proposals.

      AARP Grassroots Campaign

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    13. Bill Would Eviscerate ERISA Protections for Small Plan Participants

      Bill Would Eviscerate ERISA Protections for Small Plan Participants

      It’s said that the devil is in the details – and indeed, bipartisan legislation that claims to lower barriers for small plan adoption might do so at the expense of participants.

      The Small Business Employees Retirement Enhancement Act, introduced earlier this week by Sen. Tom Cotton (R-AR) includes provisions regarding multiple employer plans (MEPs), a type of employee benefit plan that can be maintained as a single plan in which two or more unrelated employers participate – a concept that has received bipartisan support on the Hill.

      However, under this bill, employers that have 100 or fewer employees who earned at ...

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    14. Building a Better 401(k)

      Building a Better 401(k)

      Last week the Wall Street Journal had a full-page piece (for those who still read the paper version) on “Five Ways to Improve 401(k)s.” This week we asked NAPA Net readers to weigh in.

      The five ways weren’t exactly new (indeed, one reader even commented: “All of these options have always been available. Why is this news? Why do you even ask?”) – and it seems fair to say they aren’t even particularly controversial.

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    15. Advisors Still Skeptical About ESG Investment Performance, Want Proof

      Advisors Still Skeptical About ESG Investment Performance, Want Proof

      Given the increasing demand for environmental, social and governance investing, one would think that products which incorporate ESG factors would be exploding, but that is not necessarily the case, a new report reveals.

      Issues such as climate change, racial and gender equality, and data protection and privacy are among the global trends “piquing investors’ interest” in ESG factors, according to the June 2018 issue of The Cerulli Edge―U.S. Monthly Product Trends Edition.

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    16. Retirement Paradigm Shift Needed to Assist Millennial Gig Workers

      Retirement Paradigm Shift Needed to Assist Millennial Gig Workers

      New policies are needed to address retirement savings access and portability issues that Millennials and other generations face as part of the growing gig economy, according to panelists at a Capitol Hill forum.

      “The Millennial Perspective: An Intergenerational Discussion on Retirement Savings” sponsored by WISER was centered on the organization’s iOme (I OWE ME) Challenge to develop a comprehensive proposal to address the supposed challenges Millennials face in saving for retirement.

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    17. Mixed Messages on MEPs

      Mixed Messages on MEPs

      Multiple employer plans, or MEPs, have enjoyed bipartisan support on the Hill – and have even been included in various legislative proposals – NAPA Net readers weigh in on their experience, concerns, and aspirations for these offerings.

      MEPs were, of course, a subject of discussion in a recent hearing by the House Education and the Workforce’s Subcommittee on Health, Employment, Labor and Pensions alongside other legislative and regulatory solutions seen as improving retirement plan access.

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    18. Factors Affecting Social Security Income Largely Misunderstood

      Factors Affecting Social Security Income Largely Misunderstood

      New survey findings suggest a need for financial advisers to discuss optimizing Social Security benefits with their clients, as many do not understand what factors determine their benefits.

      In fact, Nationwide Retirement Institute’s survey of 252 financial advisers finds that only 25% of respondents believe a vast majority of their client base (more than 80%) understand the factors that will affect their Social Security income.

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    19. In-Person Financial Advice is Still King, Study Suggests

      In-Person Financial Advice is Still King, Study Suggests

      While emerging technologies are drastically shaping the future of financial guidance, a new report finds that wealthy Americans still value in-person knowledge and expertise for financial advice.

      When it comes to making financial decisions, 81% of respondents to a recent poll of mass affluent Americans said they are most likely to turn to a financial adviser over their closest confidants, including their wealthiest friends (70%), older generations (69%), parents (66%) and friends (57%).

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    20. Why Don’t More Americans Have a Financial Plan?

      Why Don’t More Americans Have a Financial Plan?

      The evidence seems clear that having a written financial plan helps people stay on track and reach their financial goals, yet only one in four Americans have a plan, according to new research.

      As for the top roadblock, Charles Schwab’s Modern Wealth Index study says it’s because they don’t think they have enough money to merit a formal plan, with 45% of those without a written plan saying so.

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    1-24 of 182 1 2 3 4 5 6 7 8 »
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