Practice management

The majority of Americans say they want and need income replacement projections for financing their retirement, but most do not have access to the data nor an understanding of how to translate their 401(k) savings into a stream of retirement income, according to new research.

DTCC Insurance & Retirement Services announced the release of a new information service designed for insurance carriers and broker/dealers selling annuity products.

Hundreds of National Association of Health Underwriters members attended the organization’s 81st annual convention in San Antonio, which concludes Wednesday.

The New Jersey Assembly on June 23 approved a bill that will require 750,000 government employees and retirees to contribute substantially more for their health insurance and pensions.

The National Association of Health Underwriters is gathered in the most visited city in Texas for the organization’s 81st annual convention from June 26 – 29.

Benefit brokers have a growing opportunity to help clients incorporate comparative effectiveness research into value-based health plan design, a just-released survey suggests.

When financial advisers look to work with women, they should keep two things in mind: the wooing process tends to take longer, but they are usually more loyal, according to Sallie Krawcheck, president of Bank of America Merrill Lynch's global wealth and investment management unit.

A recent survey from Principal Financial Group confirms that employees who use a financial adviser do significantly better at meeting their retirement savings goals than those who do not.

The benefit broker segment continues to be the largest producer segment according to Eastbridge Consulting Group’s 2010 U.S. Worksite Sales Report.

Less than 20% of chief financial officers consider themselves very knowledgeable about the new GAAP statutory principle-based framework, while 24% say that key personnel within their company know very little about the plans, according to a recent survey.

The recent string of sensational hacker attacks is driving companies to seek "cyberinsurance" worth hundreds of millions of dollars, even though many policies can still leave them exposed to claims.

A new report from MetLife suggests that financial advisers need to do a better job of educating their clients about the importance of managing their emotions as well as their spending and investing behavior during and close to retirement just as they did — presumably — when they were younger and saving up for their golden years.

According to a recent survey by Eastbridge, "product competition" was named most frequently as an obstacle voluntary and worksite executives' businesses will face over the next few years. Forty percent of the executives deemed this a top issue.

TIAA-CREF is currently selecting advisers for its own network, which will launch over the next six months and go nationwide early next year. For participants in TIAA-CREF retirement plans, the network will be a pre-screened group of planners who can provide advice on specific plans that meet fiduciary standards.

Two out of three workers would purchase additional health insurance benefits to make sure they are protected, according to a report from Aflac. Fifty-nine percent of respondents said they would acquire voluntary insurance.

BenefitMall has revamped the company's website, adding resources and information to assist brokers. Changes include an improved home page that provides quicker access to tools that can help brokers more effectively manage their businesses.

Hundreds of facts and statistics have been compiled from numerous industry reports to produce the first Long-Term Care Insurance Almanac and Book of Facts. The guide, produced by the American Association for Long-Term Care Insurance, will help financial and insurance professionals address the increasing number of questions raised by prospective clients.

Last month we shared the first half of a case study involving Beverly Beattie of Selden Beattie Benefit Advisors. In that column we talked about how we jointly facilitated a benefits strategic planning session with a Selden Beattie client. We shared some background about the client and their relationship with Selden Beattie. We then discussed how Beattie's approach to client interaction has become much more strategic. In fact, that strategic approach is central to all of her firm's interaction with existing clients and has become a focal point of much of its marketing outreach and prospecting initiatives.

We all have inherent strengths and weaknesses. This is true in every aspect of life, and is often most obvious when it comes to our careers. The biggest problem with weaknesses at work is that we are hardwired to try and overcome them, and this isn't always the best thing to do. Some weaknesses can and should be addressed and worked on. For example, if you are rarely on time for appointments, success in any field will most likely be difficult. This isn't an inherent weakness. You don't need to 'go against the grain' of who you are as a person to overcome chronic lateness.

Stop working harder at sales. Instead, turn on your computer. When the dots are properly connected, data can open a whole new world of selling for you - a smarter way. Once you get over the paper tiger of scary data, you'll discover a new method of locating and working prospects that you never dreamed of before. You'll make more money with this technique.