Practice

Soon after the tragic news of Steve Jobs' death broke, people began wondering what would become of the Apple co-founder and innovator extraordinaire's fortune. Forbes recently estimated Jobs’ wealth at $7 billion. According to legacy expert attorneys Andy and Danielle Mayoras, it appears Jobs had his estate planning act together.

Automatic enrollment greatly increases participation in 401(k) plans for all racial and ethnic groups, with particular success for Blacks and Hispanics, even among low earners, Vanguard research shows.

One of the hot topics in the field of behavioral finance is the use of heuristics -- simple rules of thumb or mental shortcuts often used to make decisions or draw inferences quickly and with minimal effort. While in everyday life these mental shortcuts help us to function quickly and efficiently, author and consultant Keith Weber says that when they’re applied to our personal finances they can often lead to poor investment decisions.

Steve Sanduski, the Prosperous Advisor, says advisors should use the English language in inspirational ways to motivate prospects and get them off the fence to become a client. He’s not talking about slick manipulation but about choosing your words carefully so you succinctly impart your message and create a positive feeling and mental picture in your prospect’s mind.

Among financial planners’ greatest concerns in this turbulent environment is retaining valued clients. In this high-tech era, marketing expert Marie Swift says planners should balance high-tech communications with truly “high-touch” communications.

New regulations requiring traders to post initial margin when clearing swap contracts through clearinghouses and outside of clearinghouses will cost financial firms $1.4 trillion in new capital charges, according to a research report released on Monday by Tabb Group.

Direct Edge said it is preparing to deliver a database of trade and quote history that is available anywhere, online.

Anova Technologies said it is rolling out a technology that will encrypt trading instructions in under one millionth of a second.

Bank of America Merrill Lynch has unveiled a new set of features for its 401(k) and employee financial benefit programs including new mobile access to retirement account information.

State Street on Friday confirmed that it has reimbursed a United Kingdom pension fund for costs related to transitioning from one fund manager to another.