The Putnam Health Reimbursement Account, which the Boston investment manager started offering Wednesday, is designed to provide supplemental medical funds for workers after they retire.
Employers make tax-deductible contributions that are invested in mutual fund. Gains on investments are not taxed, even when the funds are withdrawn in retirement to pay for medical expenses.
Unlike flexible spending and health savings accounts, health reimbursement accounts have no annual contribution limits.
Advisor360° names former MassMutual exec Mike Fanning as its new CEO
Caz Craffy admitted to taking nearly $10 million entrusted to him by Gold Star families and using it for excessive trades through outside brokerage firms.
The number of experienced financial advisor recruits fell in the first quarter, but Ameriprise's overall headcount and its profits are on the rise.
Opponents haven't stated publicly that they will file a lawsuit, but one will almost certainly challenge the Biden administration's expansion of the fiduciary duty.
Few U.S. adults have done any estate planning. Even fewer have done so for their pets. Advisors can help them get started.
Fidelity launched a new hub aimed at helping advisors who said they're struggling to grow organically. The move comes as LPL Financial and BlackRock launched similar hubs this year.
