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Weekend Reading For Financial Planners (July 6-7)

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a recent U.S. Supreme Court decision shifting authority to interpret laws passed by Congress from Federal agencies to the judicial system could have significant impacts on regulation of the financial advice industry, including the potential for additional legal challenges to regulations from the Securities and Exchange Commission (SEC), the Department of Labor (DoL), and other agencies, with new groups already joining a lawsuit against the DoL’s new Retirement Security Rule following the decision.    

Also in industry news this week:

  • A separate Supreme Court decision struck down the SEC’s use of in-house judges to adjudicate cases involving civil penalties (unless both parties in the matter agree to it), likely setting up more settlement offers from the regulator to avoid a drawn-out legal process in the Federal court system
  • At a time when it has seen an increased staff headcount and budget, FINRA, the self-regulatory agency for broker-dealers, has issued a smaller total dollar amount in fines as well as fewer press releases regarding enforcement actions during the past several years, raising questions about the extent of its enforcement of Regulation Best Interest and other regulatory measures

From there, we have several articles on retirement:

  • Why some clients have a hard time spending down their assets in retirement while others are more spendthrift
  • 5 ways that can help financial advisors give hesitant clients ‘permission’ to spend more in retirement
  • An updated study suggests that for retirees, investment assets generate about half of the amount of additional spending as wealth held in the form of ‘guaranteed’ income (e.g., Social Security benefits, a defined-benefit pension, or a private annuity), offering a potential opportunity for advisors to help nervous clients boost their spending

We also have a number of articles on practice management:

  • The 3 types of firms looking to acquire RIAs and why the attractiveness of a deal goes well beyond a firm’s valuation
  • How advisory firm owners can tell the difference between solicitations from M&A brokers solely focused on the financial bottom line of a potential sale and advisors who understand the full implications of a sale, including the importance of a solid cultural fit, for the selling firm owner
  • The considerations for firm owners considering selling a minority stake in their firm, including the importance of understanding what the investor brings to the table, in terms of the capital and industry knowledge they offer as well as their expectations for a financial return

We wrap up with 3 final articles, all about vacations:

  • How to set up proper boundaries at work before going on vacation to ensure needed work gets done without having to answer emails or phone calls while away
  • How to stop ‘overplanning’ vacations, from setting up loose guideposts for each day rather than strict itineraries to avoiding the rabbit hole of travel review websites
  • Why vacations that aren’t particularly relaxing can still offer value, including the opportunity to have a ‘fresh start’ on work practices after returning to the office

Enjoy the ‘light’ reading!

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