The DOL’s fiduciary rule will affect the advice industry in 2017 and how advice experts prepare for that change could make a difference in their business.
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Wealth Management Spotlight:
Intergenerational Wealth Transfer
A Roth IRA conversion has a special provision that allows investors to undo the action. The deadline to reverse the action for 2015 tax year is approaching.
It's not uncommon to see parents of retirement age with young children at home. In these families, children may be eligible for Social Security benefits.
Rollovers are a leading driver of IRA assets and the DOL fiduciary rule will introduce new requirements for transactions involving IRAs next year.
Grandparents seeking to help grandchildren with college costs may contribute in several ways, with different types of accounts and benefits.
Non-tuition college expenses make up a significant portion of the price of going to college, but you may need to research to calculate the true costs.
Parents may face challenges trying to help their child in an emergency at college if they do not have a health-care proxy or power of attorney.
Parents may want to discuss numerous topics with children going to college including paying bills, transportation, and seeking health care.
Multiple recommendations have been made to fix Social Security and some strategies may be more costly for investors.
While major legislation is unlikely to be passed during an election year, some smaller-scale bills to help savers could be advanced.