Editor's picks: What we're reading on the Web this week
By Paul Wilson
The editors at ProducersWEB spend hours each week scouring the Web for content relevant to our readers. Here are some of the top pieces that caught our eye this week. We'd love to hear your thoughts on any of these stories — feel free to chime in using the comment section below.
The Complete ELNY Saga: 21 years of mismanagement, corruption, broken promises and shattered lives (LifeHealthPro)
"For more than two decades, the Executive Life Insurance Company of New York (ELNY) has been bled for billions of dollars while languishing in a state-imposed purgatory. Soon, due to years of mismanagement by the very institution charged with saving it, ELNY will begin denying hundreds of innocent victims the compensatory payments they depend upon to survive."
Retirement planning for next four years under President Obama (AdvisorOne)
"Though President Obama spent little time discussing his views on tax-favored retirement accounts during his campaign, the plans he did set forth are indicative of the consequences for retirement savings. While this impact may not be immediately apparent to your clients, it is something that they need to consider as they plan for retirement this year and beyond."
Shadow banking grows, regulation coming (CNNMoney)
"The murky world of exotic financial instruments known as "shadow banking" has grown, rather than shrunk, since the crash of 2008, and regulators are seeking new ways to control it. "
Annuities get a bad rap (Wall Street Journal)
"Annuities have somehow gotten a bad name. Life annuities are an important product for retirement income and are truly more friend than foe."
5 top ways new advisors can land clients (San Francisco Chronicle)
"Cold calling ... can certainly work over time, but is a rather inefficient way to spend one's time. Below are five other, and potentially more rewarding, ways for a new advisor to land clients."
New long-term care insurance polices offer more options (USA Today)
"As Americans are living longer they are facing the staggering cost of nursing homes and assisted-living care, often without a financial safety net. Long-term-care insurance is one way to prepare for the growing expenses, but the industry is undergoing changes and the products are confusing and costly."
Bipartisan bill would widen exemption from health insurance mandate (The Hill)
"New legislation would allow people an exemption from the healthcare mandate by filing an affidavit with the IRS. "
What Obama needs from business leaders (US News)
"After excoriating "fat-cat bankers" and overpaid CEOs during his first term, the president needs to repair relations with business leaders who collectively have far more power to lower unemployment and boost growth than he does."