Staff Writer

Staff Writer

401(k) Providers Giving Misleading Advice

Senator Tom Harkin of Iowa

A recent Government Accountability Office report maintains that 401(k) providers are offering misleading advice to plan participants regarding IRA rollover options. This development offers advisors an attractive opportunity to grow their business by helping employees who are leaving their employers better manage retirement assets.


Prevent Clients from Retirement Disaster

Last year, one out of three 401(k) participants used a plan loan or hardship withdrawal, according to a recent Financial Finesse study. That was a substantial increase from 2011, when only one in four participants completed such transactions.

In many instances, hardship withdraws and loan can have adverse impacts, such tax implications and missed market opportunities, on long-term savings goals. For advisors, this development can be frustrating. Yet, this trend can present attractive opportunities for advisors.


Surging Real Estate Creates Opening for FAs

My Mortgage Docs to be Reviewed by an Expert

A recent Wall Street Journal article, which cites CoreLogic data, reported that 21.5% of American homeowners were underwater at the end of the fourth quarter, compared to 25.2% at year-end 2011. The term ‘underwater’ refers to mortgages that have debt values exceeding home values. It can be difficult to refinance a mortgage that is underwater, as many lenders finance less than 80% of the value of a home, although HARP, or the Home Affordable Refinance Program, has helped address that problem with certain homeowners. Read more...

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