Wealth management

The past two years have not been overly kind to the life settlement market.

CFP OFFERS NEW DESIGNATION

Affluent families are not feeling so affluent these days. The financial crisis has left its mark and eroded a tremendous amount of confidence, as well as wealth.

Under new regulations proposed by the Treasury Department, Americans who receive federal benefits like monthly Social Security and Supplemental Security income would no longer be able to receive these funds by check, and groups including Consumers Union are asking the Treasury to reconsider.

Congressman Richard Neal, D-Mass., has introduced legislation that would allow companies to set up automatic payroll deposit Individual Retirement Accounts, or Auto IRAs, for workers who do not have access to employer-provided qualified pension plans.

Sixty percent of the private equity executives surveyed by accounting firm Eisner LLP have seen an increase in debt financing availability in the first and second quarters of this year, compared to a year ago.

CBIZ has acquired South Winds Inc., a Baltimore-based retirement consulting firm, which does business under the name Benexx.

CPA and business advisory firm Argy, Wiltse & Robinson announced that Johnson Advisors LLC has changed its name to Argy Accounting Solutions LLC and Argy’s Family Wealth Management Group has changed its name to Family Tax Advisory Group.

Thirty-four percent of employed Americans plan to look for a new job when the economy gets better, according to a new survey by Deloitte.

Shareholder votes on executive compensation at U.S. firms have resulted in an average single-year pay drop for CEOs of about $7.3 million or about 38 percent in companies where pay was excessive, according to a new study to be presented by the American Accounting Association.

IMGCAP(1)]Capital market regulations often have unintended consequences.

One out of every five senior citizens has been the victim of a financial scam, according to a recent survey by Infogroup/ORC, and the Illinois CPA Society has published a set of tips to help them avoid scams and protect their money:

IRS PROBES 401(K) COMPLIANCE

Some of the more established financial planning firms have successfully transitioned existing tax and audit clients to their investment units, while others are deploying aggressive strategies to recruit new candidates for their financial services offerings.

By its nature, financial planning takes the long view - and so do financial planners. A good plan, and a good planner, should not be completely derailed by market swings or uncertainty in the regulatory environment; instead, they adapt, often using strategies and tools prepared in advance.

Senators Blanche Lincoln, D-Ark., and Jon Kyl, R-Ariz., have introduced a proposal to reform the federal estate tax, which temporarily expired this year but is slated to increase to up to 55 percent next year for estates over $1 million.

Emerging Information Systems Inc. has launched a new financial planning software product, NaviPlan Select.

Dramatically high percentages of Americans —even in the upper income categories—are likely to run short of money after 10 or 20 years of retirement, according to a new study.

Nearly two out of three Americans are more concerned about their finances today than they were at the beginning of the financial crisis two years ago, according to a new survey.

A new report from Aite Group LLC identifies five types of advisors based on their focus on and adoption of financial planning.