Feature Story
By Mark Miller
Lenders hope to convince financial planners who reverse loans can be a safe, flexible financial tool for seniors. Many planners are skeptical of reverse loans due to their high fees; the industry also has been dogged lately by headlines about litigation focused on foreclosure risks facing seniors, and market exits by several major lenders.
But the reverse mortgage industry is re-focusing on a relatively new lower-cost loan type, which is starting to get traction in the market. They're being marketed as an appropriate backstop resource as part of a broader portfolio of financial options for retirees.
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Today's News
By Kevin McKinley
The aging of your clients is generally a good thing for them, especially when compared to the alternative.
But the older they grow, the more likely it is that they and their retirement accounts will be subject to required minimum distributions (RMDs).
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By Mark Miller
Roger Wohlner is a target date fund skeptic. A fee-only financial advisor for both retirement plans and individuals, Wohlner worries that target date funds — which invest in a mix of assets with the aim of reducing equity exposure as participants approach retirement — just can't do as good a job as professional advisors managing client funds.
“I have mixed emotions about them,” says Wohlner, whose firm, Asset Strategy Consultants, is based in Arlington Heights, Ill. “They're better than just leaving your funds in a money market fund for 30 years, but you really can't just ‘set it and forget it.’ Investors need to focus on how the target date fund fits into an overall financial plan.
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By Philip Palaveev
You may be pessimistic about the economy, the markets or the dollar but there is little reason whatsoever to be concerned about the state of the financial advisory industry. Results of Registered Rep.’s 2011 Compensation Survey suggest that financial advisors continue to expand their practices, work with more clients and receive ample compensation for their efforts. Over three quarters (78 percent) of the participants took home increased income in 2010 and the vast majority (84 percent) expect their compensation to rise again in 2011. The industry is steadily growing and advisors report high levels of satisfaction with the compensation they receive. Unfortunately though, the industry is also training advisors to expect comp “candy” all the time in the form of recruiting and retention bonuses and, as we know, candy all the time is not healthy.
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Featured Blog Post
By Diana Britton
During Lipper’s 2012 outlook event last night, Lisa Shalett, chief investment officer of Merrill Lynch Wealth Management, provided a gloomy outlook for the U.S. markets for 2012, unless Europe gets its act together and the U.S. can get passed the gridlock in Washington.
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