Issues & Innovations

  • CFP Board Implements Reforms to Strengthen Enforcement of Its Code of Ethics and Standards
    CFP Board Implements Reforms to Strengthen Enforcement of Its Code of Ethics and Standards

    Expanding consumer access to advisor information, advisor disclosures

    Certified Financial Planner Board of Standards, Inc. (CFP Board) today announced additional efforts to strengthen the enforcement of its Code of Ethics and Standards of Conduct (Code and Standards) for CFP® professionals, which will begin on June 30, 2020.
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  • FSI Applauds Development and Rollout of SEC’s Regulation Best Interest
    FSI Applauds Development and Rollout of SEC’s Regulation Best Interest

    Standard of care expected to protect investors while preserving access to advice

    With the arrival of the June 30 implementation date for the Securities and Exchange Commission’s (SEC) new Regulation Best Interest (Reg BI), the Financial Services Institute (FSI) applauds the Commission for establishing a workable, universal standard of care that applies to all financial advisors, regardless of their business model.
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  • Homes Are Selling At The Fastest Pace in More Than Two Years
    Homes Are Selling At The Fastest Pace in More Than Two Years

    The hottest U.S. markets are in the Midwest

    Homes are selling faster now than any time since spring 2018, a new Zillow® analysis shows1, meaning potential buyers should be prepared to strike quickly, and sellers who have been on the fence through the onset of the coronavirus pandemic might now want to list.
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  • Rise in Cases Inspires Turbulence
    Rise in Cases Inspires Turbulence

    Worries that rising infections could derail economic recovery sends stock prices down and dampens investor enthusiasm

    The Dow Jones Industrial Average slumped 3.31%, while the Standard & Poor's 500 retreated 2.86%. The Nasdaq Composite Index lost 1.90% for the week. The MSCI EAFE Index, which tracks developed stock markets overseas, declined 1.28%
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  • FSI Statement on DOL’s Proposed Exemption for Investment Advice Fiduciaries
    FSI Statement on DOL’s Proposed Exemption for Investment Advice Fiduciaries

    Encourages alignment with SEC’s Reg BI and preserving investor choice

    Today, the Department of Labor (DOL) released a proposed exemption for investment advice fiduciaries relating to retirement financial advice. This comes after the DOL’s fiduciary rule was struck down by the Fifth Circuit Court of Appeals in March 2018 following a challenge by a coalition of organizations, including the Financial Services Institute (FSI).
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  • Private Capital: Investor Transparency As A Differentiator
    Private Capital: Investor Transparency As A Differentiator

    For Alt-Investments, building investor confidence during a downturn while positioning for the upturn

    PEF Services, a leading fund administrator for Alternative Investment Managers, today announced the release of a new white paper entitled "Investor Transparency as a Differentiator." The report considers how General Partners (GPs) can win the trust of their Limited Partners (LPs) during the downturn and position themselves advantageously for the influx of allocations that are…
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  • Asset Stress From COVID-19 Drives Negative Ratings For Insurers
    Asset Stress From COVID-19 Drives Negative Ratings For Insurers

    Such outlooks generally have a one to two year window

    Following a review of North American insurers on the coronavirus impact, asset stress contributed to the most Negative Rating Outlook changes, according to Fitch Ratings. Fitch reviewed its entire portfolio of rated North American insurers between March 17 and June 5, 2020, in light of the risks and uncertainties related to the global coronavirus pandemic.
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  • Many Americans Will Be Unable to Make July 15th Tax-Deadline
    Many Americans Will Be Unable to Make July 15th Tax-Deadline

    Rising fears of tax debt from stimulus-debt, borrowing from retirement plans and selling stocks

    A new study by TaxAudit, a national consumer tax-consultancy, uncovers how the COVID-19 crisis is financially impacting American taxpayers. According to the survey, the majority of taxpayers (61%) are deeply concerned that the financial impacts of COVID-19 may force them into tax debt, adding to the $131 billion already owed to the IRS by 14…
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  • Consumers Concerned About Tax Changes Impacting Their Retirement Income
    Consumers Concerned About Tax Changes Impacting Their Retirement Income

    Tax changes are causing Americans concern, however very few are doing anything about it

    Tax changes are causing Americans concern, however very few are doing anything about it New research from Lincoln Financial reveals that it’s not all about filing taxes on time RADNOR, Pa., June 26, 2020 – With this year’s new tax deadline (July 15) quickly approaching, Americans are concerned about taxes but it’s not about filing…
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  • Enter The ‘Resilient Generation’
    Enter The ‘Resilient Generation’

    How Millennials and Gen Z look at COVID-19 as an opportunity to reset, take action

    n the face of unprecedented health and economic disruption caused by the COVID-19 pandemic, millennials and Gen Zs express resolve and a vision to build a better future, a new Deloitte survey finds. The 2020 Deloitte Global Millennial Survey, now in its ninth year, reveals that both generations remain resilient in the face of adversity…
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  • American Students Hold An Average Debt Of $24,155
    American Students Hold An Average Debt Of $24,155

    Almost half those students, if they had the choice to do over, said they would forgo the student loan

    The latest set of findings from Northwestern Mutual's 2020 Planning & Progress Study highlights the impact that student debt can have on a financial plan. Among U.S. adults aged 18+ who hold student debt, the average amount is $24,155. The study also finds that 42% of Americans with student debt say that if they had…
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  • How’s Your ‘Brand Intimacy’ Level?
    How’s Your ‘Brand Intimacy’ Level?

    Financial Services ranked 11th out of 15 industries

    The financial services industry maintained its 2019 spot, ranking 11th out of 15 industries studied in MBLM's Brand Intimacy 2020 Study, which is the largest study of brands based on emotions. MBLM (pronounced Emblem), the agency using emotional science to build more intimate brands during these unprecedented times, is also analyzing COVID-19's impact on the…
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  • Engaging Life
    Engaging Life

    Why are only 22% of Gen-Z prepared to be life insurance beneficiaries?

    America's Generation Z— which has grown up as digital natives and is more likely to be engaged in social activism—is less engaged when it comes to life insurance. According to a recent survey from the National Association of Insurance Commissioners (NAIC), only 22% of Generation Z say they are prepared to be a life insurance…
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