In a study done by Merrill Lynch’s Private Banking and Investment Group it was found that a great deal of generational wealth does not surpass three generations. Please see the below excerpt: Seven out of 10 (69 percent) high net worth Americans want their wealth to last at least through their children’s lifetimes, 43 percent through
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Legacy planning is more than the transfer of wealth, it is the transfer of wealth with a vision and purpose and the ability to maintain the wealth for generations to come. Successful legacy planning stems from success within the family unit. Below is an except from, Charles W. Collier’s, Wealth in Families: Successful families share
Here’s a great article from BenefitsPro.com. If employees who leave a job were better counseled about what to do with their 401(k) plans before they go, fewer of them would cash out of their plans. It’s a fairly intuitive notion but Boston Research Group found the hard evidence to say as much by following an
With the increasing number of people owning smartphones and tablets these days, many plan sponsors are considering using mobile technology to reach plan participants. Here’s an article from Limra.com that discusses this trend. Two-thirds of defined contribution (DC) plan providers have launched mobile initiatives focused on plan participants, with more companies planning them, according to
Recently, I read an interesting white paper from Indiana University regarding mutual funds. Employer-sponsored 401(k) accounts have gained significant importance around the world. In the United States, the value of 401(k) assets reached $3.5 trillion at the end of the third quarter of 2012. Their growth represents important business opportunities for mutual funds as they
Here’s a great read for those of you in need of updating your plan document, courtesy of 401kfiduciarynews.com. One of the benefits to establishing a qualified retirement plan is that they are subject to favorable tax treatment. Did you know that failing to timely amend your plan document for changes in Federal tax laws can
Last week, we partnered with the DOL to provide business owners with an in-depth look at their fiduciary responsibilities. This brief article from BostonERISAlaw.com further underscores the importance of understanding your responsibilities. I joked in a tweet the other day that I could be busy for the rest of my professional career if I could just
Here’s a thought-provoking article from Retirement Town Hall about Americans’ views on retirement and defined benefit plans. A recently published article by the National Institute of Retirement Security found that a whopping 85% of Americans surveyed are concerned about their retirement prospects. Also, 83% of Americans surveyed report favorable views of pensions (also known as
Here’s an interesting article I’d like to share from PLANADVISOR. As retirement draws nearer, baby boomers are asking vastly different questions than their younger generation cohorts. There are many issues that are not “one size fits all,” and can differ by generation, says Rich Rausser, senior vice president of Client Services at Pentegra Retirement Services.
I recently read a great article at InvestmentU by Jason Jenkins. At the end of this year, the “Bush-era tax cuts” – as they have been labeled for the last decade – are set to expire. Now Republicans want them to stay in place across the board. The President and Democrats are okay with that for