Do You Know Who Your Adviser Is?

You probably wouldn’t take investment advice from someone whose business card said Retirement Wizard, but it is not always so simple to spot a fake credential. You may find it harder to tell the difference between a Certified Advisor for Senior Investing and a Retirement Income Planning Specialist. The problem with these so-called “senior designations” is that it is hard for consumers to separate real titles from those that are merely marketing tools. Reports by AARP and the Consumer Financial …

Worried Someone You Know May Have Diminished Financial Capacity?

What are the early warning signs of dementia? That’s a question professionals who work in the financial services industry have increasingly asked me since AARP released a report, entitled Protecting Older Investors: The Challenge of Diminished Capacity, on protecting investors who have diminished capacity. The report raised awareness among many financial professionals concerned about the decision-making capacity of their clients. Just to give some sense of how much of a potential problem this is, there are about 41.5 million Americans age …

Beefed-Up Protections May Be Coming for Target Date Funds

Target-date funds – among the most common investment selections offered by employers to employees in 401(k) plans – used to be the darlings of the retirement investment world. They were popular with novice investors because they take the guesswork out of investing. Since the funds hold a mix of assets that becomes more conservative as the target date for retirement approaches, investors don’t have to worry about taking on too much or too little risk  as they age. The portfolio …