Welcome to our News Round-Up! Here, we’ll share with you interesting news in interesting ways, giving you a snapshot of a few of this past week’s headlines and events to get you caught up on what’s going on both here and abroad.
August 15, 2015
Quote of the Week:
- “We will continue to urge the Cuban government to fulfill its obligations under U.N. and Inter-American human rights covenants – obligations shared by the United States and every other country in the Americas.” – Secretary of State John Kerry, speaking at an historic flag raising at the recently-reopened American embassy in Cuba. We have more on the event below in the round-up’s “On the World” section.
On Your Business:
- Keep the potential for Dementia in mind. It’s an unfortunate and tragic truth that as your clients get older, they will be diagnosed with various illnesses–Dementia among them. This article on FA-Mag.com discusses the steps you should take with your clients to make sure they’re prepared financially if this diagnosis is handed out further on down the road.
On the Industry:
- Social, yes–but secure? A new AARP study shows that 80% of Americans are planning on relying on Social Security to fund their retirement–not bad, necessarily, since that’s what the program is intended for. But the problem lies in another statistic: Only 42% of survey respondents are either “very” or “somewhat” confident in the program’s long term viability.
On the Economy:
- Fiduciary ruling update! Proposed updates to the DOL’s fiduciary rules are looking a little clearer after this update from InvestmentNews.com. While you should read the full article to get all the details, you can expect language that will “brighten the line between education and advice, and expand the list of permissible assets for retirement plans.”
On the World:
- Hello again, Cuba! Secretary of State John Kerry made the new relationship between Cuba and the United States official on Friday by raising an American flag over the new U.S. embassy in the Caribbean nation. It’s the first time since 1961 that the U.S. has had a formal relationship (and embassy) with Cuba.