FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
Americans increasingly think they’re going to work into their 70s (Bloomberg)
Willis Towers Watson, a human resource consulting firm, found that about 23% of Americans with jobs are planning to work into their 70’s — up from 16% in 2009, reports Suzanne Woolley.
Notably, the survey found that employees who expected to work longer were “less healthy, more stressed and more likely to feel stuck in their jobs than those who expect to retire earlier.”
9 groups just filed a lawsuit to kill the DOL rule (InvestmentNews)
Nine organisations, including the Chamber of Commerce of the United States of America and the Financial Services Institute Inc., filed a lawsuit on Wednesday to take down the DOL fiduciary rule, reports Greg Iacurci.
“The rule and [prohibited transaction exemptions] overstep the Department’s authority, create unwarranted burdens and liabilities, undermine the interests of retirement savers, and are contrary to law,” plaintiffs argued.
A Brexit wouldn’t be that big of deal, probably (Advisor Perspectives)
“Overall, we believe the negatives outweigh the positives, but not to the point where a Brexit would cause us concern,” wrote Clas Olsson of Invesco Blog.
“UK exporters would face some additional costs associated with border control, increased import duties and other activities, but it would not face any meaningful barriers to trade,” he explained. “In addition, these costs would likely be offset by any stimulative growth impact for those exporters who would enjoy relative pricing benefits from a potentially weaker sterling.”
Here’s how investors can play the slow growth environment (Charles Schwab)
The global economy has been growing unusually slowly over the past few years. But that doesn’t mean that there no opportunities for investors.
“Slower productivity growth may lead to the return of inflation, a shortage of tax revenue, pressure on profit margins, and less ‘creative destruction,'” wrote Jeffrey Kleintop. “This potential long-term theme may lead investors to find bright spots among mega-caps and emerging market stocks and to avoid those investments that are interest-rate sensitive.”
New York’s highest court ruled on Thursday that Maurice “Hank” Greenberg, the former AIG chief executive, must face a fraud trial over transactions at the insurer, reports Karen Freifeld.
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