Practice

Although average Gen Xers say they want life insurance policies worth more than $700,000, they purchase only $260,000 in coverage.

With the transfer of wealth from baby boomers to the younger generations already underway, financial advisors need to adjust or risk getting left behind.

Oppenheimer Funds and Putnam Investments have won top honors in the 11th annual NOVA Awards for innovation in the investment management industry.

The RIA channel is set to be a source of headcount growth, while the wirehouses and broker-dealer channels are expected to be the biggest losers, according to Cerulli Associates’ most recent study -- but there’s a silver lining for RIAs.

Members of Generations X and Y - people between 23 and 48 years old - who have $1 million or more in investable asset are more active in the markets, engaged in planning and philanthropy, informed, optimistic and collaborative than their baby boomer counterparts, according to a new survey by Fidelity Investments.

The IRS is providing guidance on the application of the market reform provisions of the Affordable Care Act to health care arrangements such as health reimbursement arrangements, employer payment plans and flexible spending accounts.

Reversal of Fortune

Living Off a 201(k)

Anti-money laundering policies were identified by both FINRA and the SEC as a top priority for examinations of broker-dealers in 2013. In its exam guidance, FINRA noted "an increase in foreign currency conversion transactions." It also stressed that there are no exemptions from the AML requirement for member firms, even if the company holds no customer funds.

Attracting Younger Clients