Resolution To Kill DOL Fiduciary Rule Is Approved By Senate – But Will It Stick?

Resolution To Kill DOL Fiduciary Rule Approved

Just as quickly as it was passed, the Senate approved a resolution to kill the DOL Fiduciary Rule on Tuesday (May 24). President Obama has made it clear that he will veto the resolution should it find its way onto his desk. The resolution passed with a vote of 56-41, a far cry from the 290 supermajority needed to override a presidential veto. Those who support the rule argue that it will protect the  middle class investors from advisors who may be recommending high-fee products that reap high profits for the advisor and high risk/low reward for the investor. While those who oppose the rule argue that the rule will end up hurting the middle class by resulting in significant increases in regulatory costs for advisers  making investment advice much more expensive. And those who oppose the regulation have been quite vocal about their disapproval. Senate Majority Leader Mitch McConnell has warned that fees for investing could more than …


3 Things The Financial Industry Needs To Know About Millennials

3 Things The Financial Industry Needs To Know About Millennials

No doubt you’re familiar with the Millennial generation.  With 80 million members the Millennials are the largest generation in American history. And they’re everywhere. You may even have one living in your basement. As a Millennial myself, I can agree that my generation has a completely different expectation than our Gen X and Baby Boomer predecessors when it comes to money and investing. This, combined with the mere size of this group, means financial institutions need to adopt an adapt or perish mentality if they want to benefit from the Millennials’ massive economic footprint ($200 billion to be exact). Here are 3 things financial firms need to know about Millennials.   1.Technology is such an integral part of their lives that they don’t just see it as a tool, they see it as a part of themselves. The Millennial generation is defined by technology. As the first generation to be born into a tech …


Webinar: Welcome To Insurance Sync For SmartOffice

Last week Ebix hosted a webinar featuring Tony Wang, SmartOffice’s Director of Brokerage Sales, where he hosted a live demo and Q&A for Insurance Sync. If you missed it, don’t panic! We have the recording just for you.     If you have any questions that aren’t answered in the webinar please feel free to email today! Our goal is to continually improve SmartOffice to exceed your needs, so if you’d like to offer your feedback we’d greatly appreciate it! There’s an optional survey that you can complete here, if you feel so inclined.

DOL’s Fiduciary Rule Release Date Leaked

DOL's Fiduciary Rule Release Date Leaked

According to a report by the Wall Street Journal, the Department of Labor’s (DOL) controversial Fiduciary Rule will be released at 11:30 am this Wednesday, April 6. The Office of Management and Budget (OMB) began reviewing the rule in January of this year and was expected to release the final rule early next week. The proposal was introduced last April with strong backing from President Obama and hasn’t lost momentum since. According to the DOL, the measure will “require retirement advisers to abide by a ‘fiduciary’ standard—putting their clients’ best interest before their own profits.” The rule has been hotly debated since it was introduced, with much of the push back coming from the financial industry. Once the final rule is published, Congress will have 60 legislative days to adopt a joint resolution of disapproval, if it wishes to oppose the resolution.

3 Letters That Will Transform Your Business Overnight

Benefits of a CRM for Your Business

What if someone said with just three letters they could help you increase your sales, streamline your process, boost efficiency, and land more referrals. What is this enigma you ask? CRM Now some of you may be rolling your eyes and others may be nodding in agreement. Over the years CRM (Customer Relationship Management) systems have adopted a bit of a bad reputation. With the dot-com bubble burst in the early 00’s, CRM systems stumbled a bit when it came to adapting and evolving. Because of this they struggled to meet the needs of businesses. Over the last 16 years, CRM systems have more than adapted. In fact a recent study published by Gartner predicts that by 2017 the CRM market will generate $36 billion and it’s already the fastest growing type of business software.  CRM systems aren’t just helping us do business, in some cases they’re changing the way …