Wealth Management
Top stories summarized by our editors
5/25/2018

SmartBrief has updated its Privacy and Cookie Policy. Here are the key things for you to note: Our Privacy and Cookie Policy has been rewritten to make it easier to understand and to address new EU requirements. The policy outlines how we collect, use, share and protect your personal data. It also includes details on how you can make choices about your information and the measures we've put in place to keep your information secure. We encourage you to review our new policy at smartbrief.com/privacy.

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smartbrief.com
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SmartBrief, EU
5/25/2018

Many independent broker-dealers are generating significant revenue from annuity sales. InvestmentNews ranks the 10 IBDs with most revenue from annuities in 2017.

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IBD, InvestmentNews
5/25/2018

Securities and Exchange Commission Chairman Jay Clayton told attendees at the Financial Industry Regulatory Authority's annual conference that the word "fiduciary" was left out of the SEC's Regulation Best Interest to avoid investor confusion. "It's important for an investor to understand that the relationship model of the broker-dealer is different than the relationship model of the investment advisor," he said.

5/25/2018

The Labor Department's Employee Benefits Security Administration said it will conduct a seminar on the fiduciary responsibilities of retirement advisors on July 10 in Chicago. The agency previously said the seminar would be offered on June 28 in Rhode Island.

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PlanAdviser online
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Labor Department
5/25/2018

The Securities and Exchange Commission has voted to propose rules authorizing advisors and firms to make public research on exchange-traded funds, mutual funds and closed-end funds. The proposal would implement a law Congress passed last year.

5/25/2018

Advisors should review their clients' tax returns, as the forms can reveal key information about their financial situation and be a tool to aid the growth of long-term wealth, suggests Greg Smith of The Wise Investor Group. Advisors should pay attention to interest income, charitable giving and Social Security benefits, he writes.

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WealthManagement
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clients, Greg Smith
5/25/2018

Strong relationships with clients and other financial planners are the foundation of a solid business growth strategy, Mike Byrnes says in the "You're a Financial Planner, Now What?" podcast. Byrnes says authenticity and human connections will help transform your practice, and he offers tips for strengthening relationships.

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FPA Activate
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Mike Byrnes
5/25/2018

Incorporating public relations into your financial planning practice can shed a positive light on the industry and provide valuable education to members of the media, says Ben Lewis, FPA's director of public relations. In an interview, Lewis offers five tips to help make financial planners more media savvy.

5/24/2018

Only 35% of college-educated women report feeling confident they can manage investments in their self-directed retirement accounts, compared with 60% of college-educated men and 41% of men who only hold high-school diplomas, according to a Federal Reserve survey. The difference may be exacerbating the gap in retirement savings between the genders, writes Jordan Yadoo.

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WealthManagement
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Federal Reserve, Jordan Yadoo
5/24/2018

More than 70% of US banks posted improved year-on-year Q1 results, with profits of $56 billion, up 27.5%. Banks benefited from higher interest rates, tax breaks and higher net operating revenue.

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Reuters