Recent research shows IRAs and 401(k) plans lost a combined $2.8 trillion, or 47% of their value, between September 2007 and December 2008. Retirement experts say these plans have high operation costs and low investment returns. But the biggest problem with defined contribution plans may be that they do not provide guaranteed retirement income. Planning and managing retirement savings continues to shift to workers who have to learn what professional money managers are trained and paid to do every day. There is legislation in California to allow private-sector workers to enroll in a state-operated retirement program. A similar proposal in New York City would pool employee and employer contributions into a professionally managed, citywide retirement fund. The future of these proposals is uncertain, but some think they are a step in the right direction.
RetireOne says the deal should help it provide better support for RIAs.
An NAIC task force hopes to develop a consistent national approach for handling LTCI rate reviews.
Florida Blue's parent hopes to help 10 companies get serious funding.
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Outsourcing investment management could be the answer to saving advisors time, improving their client experience, and helping them stand out in a crowded industry. So why are some advisors still reluctant to let go of those tedious day-to-day tasks?
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