On Saturday, all eyes at the Financial Planning Association’s annual conference in Seattle were on keynote speaker Christopher Gardner, the financial adviser whose rags-to-riches story was celebrated in the 2006 hit movie “The Pursuit of Happyness,” starring Will Smith.
Poor planning leaves his heirs with unnecessary legal fees and an onerous tax bill The way his terrible estate plan is unraveling, if the late James Brown, the “Godfather of Soul,” could see from wherever he is, he wouldn’t be screaming his most-famous three words: “I feel good.”
Sixteen years ago, Jessica Abrams’ life revolved around her pony. To buy the horseshoes and other accessories she needed for shows, the then 14-year-old baby-sat several days a week and carefully saved.
More voices are joining the discussion of how best to disclose the costs of 401(k) plans to the employees who participate in those plans.
DETROIT — Financial advisory firms that concentrate on holistic planning and leave the investment management to outside professionals are seeing the benefits in real dollar terms, according to a recent study.
NEW YORK — Workers know they need financial planning, and they are looking at their employers to guide them to sound decisions, according to a study from Ameriprise Financial Inc. in Minneapolis.
Workers know they have to save for retirement, but they’re lost without financial planning, a study found.
As ripples from the imploding subprime-mortgage market spread across the broader home lending industry, financial advisers might have to start helping clients reposition their mortgage and home equity exposure.
WASHINGTON — More financial advisers will specialize in becoming fiduciary advisers who work with 401(k) plans in coming years, according to a retirement executive who worked on a white paper on the issue.
WASHINGTON — Estate planning lawyers are increasingly worried that Congress may not act on estate tax reform before the estate tax repeal expires at the end of 2010.
Coby Brooks, the son of the late founder and owner of the Hooters restaurant chain, is in an estate battle with his father's widow, arguing that a commonly used estate law is unconstitutional.
NEW YORK — Retirement is already scary for both near-retirees on a tight budget and their planners, but these clients may warrant a second look, advisers said.
CHICAGO — The role of financial advisers won’t be diminished by the new 403(b) regulations released late last month, according to industry experts.
Account balances for workers who consistently held 401(k)s from 1999 to 2006 increased at an annual rate of 8.7%.
One of the biggest changes occurring in the retirement marketplace is an increase in automatic features.
A bill that would increase 401(k) disclosure should be put on hold, according to the American Benefits Council.
The American Benefits Council supports fee disclosures related to 401(k) plans—as long as it's pertinent.
CHICAGO — While the Department of Labor has yet to issue final regulations on default options for 401(k) plans, many companies are jumping ahead and incorporating a qualified default investment alternative into their retirement plans.
NEW YORK — Most clients’ collections are a labor of love and not a quest for investment returns, according to financial advisers with collector clients.
401(k) participants should get concise annual summaries of expenses—preferably online, according to a trade group.
