Two big developments in retirement planning grab advisers' attention

Social Security and annuities make news, LPL's regulatory headaches continue, and the rest of this week's must-read stories for advisers.
OCT 17, 2014
Two big developments in the realm of retirement planning made waves this week. The ongoing regulatory headaches plaguing LPL Financial were again in the news, this time making a direct impact on the company's bottom line. InvestmentNews highlighted the industry's top-performing independent firms, as well as how to handle advising female Millennial clients. Dive in to the stories that were must-reads for advisers this week: Social Security's COLA adjustment announced; Annuities in 401(k) target date funds approved https://www.investmentnews.com/wp-content/uploads/assets/graphics src="/wp-content/uploads2014/10/CI969931025.JPG" Social Security's cost-of-living adjustment for 2015 was predicted correctly by our contributing editor Mary Beth Franklin, as the 1.7% increase in benefits was officially announced this week. The other big retirement planning development came from the federal government, as the Treasury Department and the IRS both approved of the use of annuities in target date funds in 401(k) plans. Plenty of news to digest for advisers and retirees alike. LPL's regulatory costs lead to profit forecast cut https://www.investmentnews.com/wp-content/uploads/assets/graphics src="/wp-content/uploads2014/10/CI969961025.JPG" Not much to smile about for LPL Financial when it comes to the escalating regulatory costs they've faced this year. This week they were forced to cut their third-quarter earnings forecast by 11 cents a share to cover for the fact that they will need another $18 million to handle settling regulatory matters. LPL shares then dropped 7% in next-day trading, as market analysts continued to question if the broker-dealer was well-positioned to handle this rise in regulatory costs. 3 ways top-performing advisory firms stand out https://www.investmentnews.com/wp-content/uploads/assets/graphics src="/wp-content/uploads2014/10/CI969971025.JPG" With the launch of our special report on the 2014 Financial Performance Study of Advisory Firms, the big question for advisers remains: What separates the best firms from the rest of the pack? Matt Sirinides picked out three major trends at the industry's leading independent firms. The study also highlights the importance of good relationships with clients, as well as the need to up adviser productivity for firms looking to sustain growth. Avoid these 4 mistakes when advising Millennial women https://www.investmentnews.com/wp-content/uploads/assets/graphics src="/wp-content/uploads2014/10/CI969981025.JPG" Working wtith female clients remains a hot topic among advisers, and Mary Beth Storjohann provided valuable tips on what to avoid when advising Millennial women. The next generation of women is poised to amass more wealth than their parents, so alienating them as a client group could be crippling for an adviser's business.

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