Advisors who fail to meet the needs of diverse investors as they become more confident, are leaving money on the table. A new report from J.P. Morgan Wealth Management reveals that Black, Hispanic, and Latina women are feeling more knowledgeable about investments and retirement planning than they were five years...
A reported dip in engagement with financial advisors by diverse Americans in 2022 appears to be reversing. Last year Allianz Life reported that just 24% of Black investors and 35% of Hispanic investors had a professional financial advisor, dropping from 38% and 44% respectively in 2021. However, new stats for 2023...
Dan Otter has heard the story too many times: An insurance company rep walks into a classroom and pitches a teacher on a high-fee annuity in the school district’s 403(b) plan. Early in his teaching days, it happened to him. “I was in my classroom, desperately trying to get ready for...
Women who put their careers on pause are more than twice as likely than men who do the same to go back to work after retirement. That’s according to data Friday from Charles Schwab, based on a June survey of 1,000 U.S. residents ages 22 to 88 with $50,000 to...
Here’s a quick multiple-choice quiz: Are annuities the functional equivalent of a pension? Can annuities be investments that have nothing to do with retirement? Do clients hate annuities? Do clients love annuities? Do many advisors find annuities so confusing that they prefer to ignore them? If you answered “Yes” to...
While Social Security is the bedrock of retirement income for many Americans, it can also serve as a lifeline for children when one or both parents retire, become disabled or die. Financial advisors and their clients often have questions about how and when children become eligible for benefits. In 2021,...
On any other week, Chuck Smith helps his clients save for the long run. This week, however, the Nebraska-based registered investment advisor will be running for the long save. Smith and his team at Qualified Plan Advisors will be running 401K — or 250 miles — in honor of National...
It was one step forward, one step back this week toward a world in which cryptocurrency investments start popping up widely in retirement accounts. ForUsAll, a firm that helps retirement plans offer cryptocurrency investments to their participants, suffered a setback Tuesday when the U.S. Court of Appeals for the District...
A former Federated Hermes employee this week sued the company because it included its own funds in the company’s 401(k) plan. The asset management firm is latest to be targeted by a plaintiff’s law firm over the issue of using in-house products rather than comparable funds from outside providers that...
Wyoming Virginia Delaware Georgia Iowa Texas Idaho Nevada South Carolina New Hampshire Among the best states to retire on Social Security, which one stands out for you? Retirement is a milestone in one’s life that highlights the freedom from laboring days. Some are preparing for this day ahead of time while others tend to delay their retirement and save up...