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Ted Godbout
By Ted Godbout | 1/17/2018
A new survey examining what consumers look for in a financial professional finds that personal communications and overall experience are key factors in building trust and solidifying the relationship.More than half of Americans say their trust would increase if a financial professional communicated...
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By Ted Godbout | 1/16/2018
Whether consumers feel experienced is somewhat correlated to their level of investible assets, but not as strongly as one might assume, according to new research.In “Experience Divide: How Beliefs and Truths About Investing Experience Affect Loyalty and Attitudes to Active-Passive, HSAs, and...
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By Ted Godbout | 1/16/2018
Every month, it seems, new research comes out suggesting that Millennials are doing better at saving than their older counterparts. But are they really?The latest results come from Discover, which found that Millennials apparently are outperforming older generations as a whole when it comes to...
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By Ted Godbout | 1/16/2018
Legislation has been reintroduced in the New Jersey state legislature to require certain disclosures by non-fiduciary investment advisors regarding their fiduciary status with clients.Reintroduced Jan. 9 by state Senator Patrick Diegnan, Jr., (D-Middlesex), along with Assemblywoman Nancy Pinkin (D-...
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By Ted Godbout | 1/12/2018
Individual retirement accounts generally show consistent growth, but differences do arise when comparing data samples, according to a new report from EBRI.For example, while the cross-sectional overall average balance increased 36.1% from 2010 to 2015, the increase for those IRA owners who...
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By Ted Godbout | 1/11/2018
While technology, legal and compliance matters dominated their spending in 2017, RIAs anticipate that their biggest investments in 2018 will be marketing and hiring, according to new survey results.RIAs also say that a top strategic priority in 2018 will be technology investments that focus on...
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By Ted Godbout | 1/10/2018
Similar to last year’s efforts, addressing fraudulent activities, high-risk firms and brokers, and operational and financial risks are among the leading matters that FINRA will continue to pursue in 2018.“The coming year will bring both continuity and change in FINRA’s programs,” FINRA CEO Robert...
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By Ted Godbout | 1/9/2018
What are firms in the retirement industry doing to help protect against cyberattacks and the threat of financial and participant account information being held hostage?A recent Bloomberg News article, “Wall Street Aims to Thwart a Hacking Nightmare for Your 401(k),” reports that there is a...
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By Ted Godbout | 1/4/2018
Sen. Orrin Hatch (R-UT), one of the longest-serving U.S. senators and current chairman of the powerful Finance Committee, announced Jan. 2 that he will be retiring at the end of the current Congress.“I’ve always been a fighter ... but every good fighter knows when to hang up the gloves, and for me...
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By Ted Godbout | 1/3/2018
When it comes to New Year’s resolutions, financial stability edged out health and wellness as the main focus area for Americans going into 2018, new survey results show.According to Allianz Life’s 9th annual New Year’s Resolution Survey, 71% of survey respondents said their top focus in 2018 will...
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By Ted Godbout | 1/3/2018
Demand for advice on asset allocations and income planning increased four-fold among study participants after online advice tools were introduced, according to a new research paper.Using participant-level data from 23 institutions served by TIAA between 2009 and 2014, the study – “New Evidence on...
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By Ted Godbout | 1/2/2018
Employees are failing to take advantage of health savings accounts and likely are missing out on medical and retirement savings opportunities, according to a recent survey.In fact, nearly half (43%) of all employees enrolled in HSAs in 2017 did not contribute any of their own money to these tax-...
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By Ted Godbout | 1/2/2018
New survey results find that Americans are confident that they are on track to achieve their long-term financial goals, but will that confidence continue in 2018?According to the latest Investor Pulse Poll by Morgan Stanley, 91% of investors believe they are on track to achieve their long-term...
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By Ted Godbout | 1/2/2018
While the new tax law avoided making major changes to the existing retirement tax provisions, the same cannot be said for the tax treatment of executive compensation and related provisions.In the event you’ve been avoiding the news for the past two weeks, President Trump signed the Tax Cuts and...
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By Ted Godbout | 12/29/2017
While stated fees have remained stable, RIAs appear to be increasingly discounting their fees and are formally unbundling their fee structures in response to a changing wealth management landscape amid declining revenue and client growth, according to new research.The 2017 Fidelity RIA Benchmarking...
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By Ted Godbout | 12/27/2017
As part of its year-end legislative push, the U.S. House of Representatives approved legislation on Dec. 21 extending to victims of the California wildfires access to their 401(k)s and similar plans without incurring IRS penalties or immediate tax liability.This new, proposed tax relief for the...
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By Ted Godbout | 12/26/2017
The Pension Benefit Guaranty Corporation has expanded its missing participants program to terminated 401(k) and other plans in an effort to make it easier for people to locate their retirement benefits after their plan terminates.The final rule, which will be published in the Dec. 22 Federal...
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By Ted Godbout | 12/26/2017
Before heading out for the holidays, President Trump on Dec. 22 signed into law (H.R. 1/P.L. 115-97) the most significant overhaul of the federal tax code since the Tax Reform Act of 1986.The $1.456 trillion net tax cut formerly known as the Tax Cuts and Jobs Act delivers major tax relief to...
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By Ted Godbout | 12/21/2017
After facing a number of trials and tribulations as it made its way through the legislative process, Congress did, in fact, approve landmark tax reform legislation on Dec. 20, clearing the measure for President Trump’s signature.A minor holdup occurred Dec. 19, when the Senate parliamentarian ruled...
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By Ted Godbout | 12/20/2017
Congressional Republicans and President Trump are on the verge of enacting broad-based tax reform legislation once the House of Representatives approves the legislation for the second time in two days.The House must again approve the Tax Cuts and Jobs Act (H.R. 1) after the Senate was forced to...
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