Survey: More millennials using financial advisors

Millennials are increasingly seeking professional financial advice, with 42% using an advisor in 2017, up from 36% in 2016, according to a survey from the Transamerica Center for Retirement Studies. The survey also showed the use of financial advisors fell 2 percentage points to 37% during the same period for…

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Report: QLACs a good retirement solution for an aging population

Qualified longevity annuity contracts are an effective solution for an aging population fearful of running out of money in retirement, but so far QLACs haven’t attracted significant assets, according to a report from Cerulli Associates. The Treasury Department and the IRS made QLACs accessible to 401(k) plans and individual retirement…

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Group: SEC shouldn’t make rules for annuity sales by insurance agents

The Securities and Exchange Commission should not impose a best-interest standard on insurance agents selling fixed annuities, an industry group said in a comment letter to the SEC. The Fixed Annuity Consumer Choice Campaign argued agents are already legally bound to give clients full and accurate disclosure and only make…

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Study points to investors needing advisors “now more than ever”

Results from a recent Invesco study show investors need help from their advisors “now more than ever,” says Kristina Hooper, Invesco’s chief global market strategist. Investors are “confused and overwhelmed,” says Hooper, which is leading to emotionally driven decision-making. ThinkAdvisor

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Do people truly need $1M to retire?

Salting away $1 million for retirement is an oft-cited goal, but a person can save less and still have comfortable senior years, while others might need more. Variables to consider include inflation, household expenses and a possible need to aid family members. U.S. News & World Report

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4 experts offer strategies to increase retirement savings

Four retirement experts offer tips for boosting your nest egg. These include treating your retirement savings like a business and focusing on income rather than assets. Forbes

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Tips for discussing benefits with millennials

Discussing benefits with millennials requires a different approach than was used with other generations, write Cy Moser and Mike Dahlinger of Trustmark Voluntary Benefit Solutions. They suggest sticking to the basics, playing to emotions and stressing value and convenience. Employee Benefit Adviser

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Opinion: Calling annuities “guaranteed income” ups attraction

The “theoretical attractiveness” of annuities “hasn’t translated to the marketplace,” and one of the key reasons is annuities’ label and its overall marketing, writes John Rekenthaler, vice president of research for Morningstar. He suggests rebranding annuities by calling them “guaranteed income.” Morningstar

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Advisors can help women plan for surprise life events

A panel of four female financial experts discussed how advisors can offer special help to women, who they said are more likely to experience surprise events in life. These events can include job loss, divorce or issues with child care and elder care. Financial Advisor online

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Most baby boomers fear outliving savings, survey finds

Sixty percent of baby boomers surveyed fear they will run out of money in retirement, but advisors can help allay those fears. It’s vital for advisors to create a comprehensive plan for clients’ income and taxes in retirement, says Noble Capital founder Jadon Newman. InsuranceNewsNet online

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