Sponsored By: Managers Investment Group

• Does Your Client Understand Credit Scores?

  A new survey commissioned by the Consumer Federation of America (CFA) and Washington Mutual Bank reveals that few people actually know what a credit score represents.

• Microsoft Won't Upgrade Money This Year

  Microsoft has decided not to upgrade its Microsoft Money personal finance software this year and will sell the software exclusively online now.

• Morningstar to Acquire Financial Computer Support

  Morningstar plans to acquire Financial Computer Support Inc., a provider of practice management software for investment advisors.

• Multi-Currency Platform Acquires SunGard

  FolioDynamix, a provider of unified managed accounts technology and services, has acquired SunGard Advisory Technologies.

• Tax Software Targets Latino Immigrant Market

  A tax practitioner has teamed up with a software engineer to create a new tax prep program aimed at preparers who service Spanish-speaking taxpayers.

• Congressman Proposes New Tax-Free Savings Accounts

  Representative John McHugh (R-NY) has introduced legislation designed to help workers save money during times of unexpected expenses or hardship, and later roll the money over into retirement income.

• IRS to Release Revised Instructions for Redesigned Form 990

  The Internal Revenue Service plans on Aug. 15 to release revised instructions to its redesigned Form 990 for nonprofit organizations and Schedule K on tax-exempt bonds.

• MassMutual Permits 401(k) Sponsors to Customize Plans

  MassMutual's retirement services division is offering a customized 401(k) tool for plan sponsors and retirement plan advisers.

• Getting Antsy: Advisers Cope with High-Strung Clients

  The fluctuations in the stock market have created quite the headache for advisers, not to mention the surfeit of investment information via the Internet and cable news.

• Tax Planning in a Troubled Economy

  When personal circumstances change and times get rough, there are usually some provisions in the Tax Code that come into play to provide a bit of tax relief.

• The Dichotomies of the 22 Million Mass Affluent

  Frugal and lavish at the same time, the new rich have $22 trillion to spend.

• RISE Launches Income Planning Tool for Middle Class

  RISE, or Retirement Income Solutions Enterprise, Inc., has introduced Mature Simplicity, an income education and planning tool for financial planners and their middle-market clients.

• Advisers Willing to Buy Income Solutions--Curian Survey

  A recent survey of independent financial advisors by Curian Capital LLC shows that only 10% of advisers believe that 80% or more of their clients will have enough money to meet their expected living standards after they retire.

• SEC Warns about 401(k) Debit Cards

  The SEC has issued a warning about the use of 401(k) debit cards that allow employees at some companies to borrow money from their retirement plans.

• Think Slow and Steady to Beat the Street

  The less exciting road can sometimes help you weather the storms.

• Investor Psychology Leads To Bad Decisions

  Two behavioral biases—overconfidence and loss aversion—are so powerful that they seem like a metaphor for recent market losses.

• Communication Is Critical in Challenging Markets

  You should be contacting 35 clients a week for a brief conversation in the name of relationship maintenance—and this time, it's personal.

• Invest in Yourself: Work on Your Business

  Business management and money management are different goals, so to successfully run your advisory business, you'll need to develop a new set of skills.

• What Do I Do Now?

  A bear market requires more than good asset management. Here's how top planners deal with clients' fears.

• Bringing People Aboard

  "Onboarding" new hires helps assimilate and empower them before they even begin work.

• For Art's Sake

  Art may be a passion purchase, but soaring valuations call for caution. Enter the art advisor.

• House Calls

  Before you pitch your services to physicians, be sure you can meet their unique planning needs.

• Hand-Holding in Tough Times

  You had better be calming your clients' fears in these roiling markets. Here's how.

• Give Yourself a Break

  Making vacation time a priority is good for your business.

• Robbing Peter to Pay Paul

  Disintermediation is a small price to pay for stronger client relationships.

• Choices in Bad Times

  While a recessionary market is a trying time for any advisor, it's also a great opportunity to preserve your current clients and grow your business.

• The Secret to Referrals

  You won't meet prospective new clients sitting in your office. Be active in your community and reap the rewards.

• Misguided Questions

  The media presents a stilted view of the financial world, making it harder for advisors to help their clients.

• Viewpoint: from Your iPod, a Message on Internet Access

  As the population that prefers the face-to-face model approaches retirement, and fewer and fewer walk into bank branches, the scramble gets worse.

• IRS Revises Business Tax Forms

  The IRS has released draft revisions of the Corporate 1120 and Partnership 1065 tax forms, along with related schedules, for public comment.

• Axa: Retirement Web Site Isn't Just About Sales

  Don't just retire. "Reengage, reinvigorate, redefine, rejuvenate." That's the inspirational message at MyRetirementShop.com, a Web site Axa Equitable Life Insurance Co. launched this month.

• Free Calculator Shows Impact of 401(k) Withdrawals

  To show workers the long-term impact of cashing out their 401(k) savings when they change jobs or retire, a firm that provides rollover services for plan sponsors now offers a free "Cash-Out Calculator."

• Social Security Debuts Retirement Benefits Estimator

  The Social Security Administration unveiled a new online calculator to help people plan for their retirement.

• State CPA Societies Offer Secure File Transfers

  Eight state CPA associations have signed deals with LeapFile, a company that provides secure file transfers, to offer some of its services to their members for free.

• What Wealthy Families Really Want

  Today, CPAs and chartered accountants are playing an increasingly important role among the circle of advisors to families of substantial wealth.

• Survey Finds Health Account-Plan Link

  A majority of individuals who have a high-deductible health plan have a health savings account.

• Workers Draw From 401(k)s During Hard Times

  Hard times, unemployment and medical emergencies are leading more and more workers to take loans from their 401(k) retirement plans.

• Podcast

  Meeting Your Clients' Healthcare Needs

  Is it possible to be a good planner today without addressing your clients' healthcare issues?

• 6 Strategies for Developing a Referral-Only Practice

  For many advisors, this dream of a referral-only business has become a reality. Here, seasoned veterans share their insights on developing a client acquisition model where referrals are a common byproduct of trusted, long-term relationships.

• Prudential Offers Long-Term Care Insurance to LGBT Community

  Prudential Financial recently announced an insurance program targeted at the Lesbian, Gay, Bi-Sexual and Transgender (LGBT) community.

• Consumer Taxes Trending Higher

  The taxes paid by U.S. consumers are rising higher overall at gas pumps, retail stores and cigarette counters.

• Boomers Need Comforting, Reassurance Amid Market Turmoil

  A bear market is particularly bad for Baby Boomers approaching or in retirement, especially if this turns out to be an extended economic downturn.

• It Pays to be Client-Focused!

  Profitability and being client-focused go hand in hand. Intellectually, all accountants believe this, but they have a hard time identifying specific actions they can take to maximize both profitability and client service.

• 60% of Americans Don't Have a Will

  Only one quarter of Americans aged 25 to 34 have a will, according to a FindLaw.com survey.

• Boomers Changing Retirement Plans

  One in four affluent 60-year-olds are altering retirement plans while 40 percent are downsizing their lifestyles.

• A Baby Boomer Stampede May Prove Just a Trot

  As Baby Boomers move into their 60s, banks' wealth-management divisions have reason to be excited.

• Valuing Your Services

  As clients enter the decumulation stage, many advisors will face a profit pinch. Changing your pricing model is one way out.

• Deficiency Letter 411

  The basic components of the new SEC deficiency letters explained.

• Idea Person

  To create a strategic plan for your firm, first understand your competition.

• Can We Talk?

  In times of market turbulence, advisors who communicate with their clients will prosper.

• Open Up!

  These communication techniques will help build stronger relationships with clients and prospects.

• Market Stress: 5 Ways to Prepare Your Support Staff

  The best way to take care of your clients is to support your own staff. On a turbulent day in the market, like last Thursday, your clients and staff will interact. How can you prepare your team to deal with client stress?

• Consumers Went Shopping in May

  The U.S. Commerce Department said personal consumption increased by 0.8% in May, the largest gain posted since November 2007.

• Retirees Need $85K for Healthcare: Fidelity

  Retirees may need more money than previously expected in order to cover all their health care costs.

• World Wealth Report: Investors Retrench, Grow More Conservative

  Cash became the investment of choice, with fixed income securities not far behind, as high-net-worth individuals reacted to turmoil in the financial markets.

• Number of Millionaires Hits 10 Million But Asset Growth Slows

  North America remains home to the highest number of wealthy people, with 3.3 million high-net-worth individuals.

• IRS Ups Deductible Mileage Rates as Gas Prices Rise

  The IRS looks to increase the optional standard mileage rates that taxpayers can use to calculate the deductible costs of operating an automobile.

• Hedge Funds Balance Secrecy, Transparency

  Hedge funds are notorious for being secretive, private investment pools, but the time has finally come for them to become more transparent.

• Schwab Launches New Performance Reporting Program

  PortfolioService will be available to all independent investment advisors regardless of whether or not they custody assets with Schwab Institutional.

• Putnam Finds Diminishing 401(k) Contributions

  A survey by Putnam Investments has found a troubling trend among 401(k) participants. The tough economic environment is causing them to decrease contribution levels.

• AIG Advisor Nabs Mark Schlafly from LPL

  Mark J. Schlafly has been named the president and CEO of two broker-dealer subsidiaries of AIG Advisor Group.

• Death Knell for Dominance in 401(k)s, Edelman Says

  The Supreme Court's recent decision in LaRue v DeWolff to permit workers in 401(k) plans to sue administrators for high fees will inevitably lead to lower fees—and the end of the retail mutual fund industry's dominance of the market.

• IRS Revises Tax Preparer Penalties

  The Internal Revenue Service has issued proposed regulations implementing amendments to the tax return preparer penalties.

• Bloomberg Professional Runs on Windows Mobile

  Bloomberg Professional subscribers can now use the service on their Windows Mobile handheld devices, which may help it make gains in the BlackBerry-dominated financial services industry.

• Benefits Start-Up Targets Teachers, Acquisitions

  Two former CitiStreet executives plan to build a national benefits distribution platform providing tax-advantaged savings plans for teachers.

• Four Things You Are Doing Wrong in Your First Client Meeting

  The initial meeting with a prospect can make or break the financial advisory relationship. With so much hanging on that first meeting, don't make these common advisor mistakes.

• Albright to Speak at Schwab Impact Conference

  Former U.S. Secretary of State Madeleine Albright will deliver the closing keynote address at the 2008 Schwab Impact conference, it was announced this week.

• SunGard Unveils WealthStation 3.0

  SunGard's latest client management software was unveiled today, in the form of WealthStation 3.0.

• 403(b)s Brace for Big Changes

  Big changes are brewing in the 403(b) world. For the first time in 40 years, the Internal Revenue Service is mandating new requirements that aim to make the plans more like 401(k)s.

• True Value

  What really attracts clients? Not the services you offer, but the benefits those services will bring.

• Family Matters

  Rhona Vogel's style of spreading the wealth among families means adopting a multidisciplinary approach and a 100-year plan.