TOO MANY RAID NEST EGGSRoughly one quarter of adults who are actively planning for their retirement have prematurely withdrawn from their retirement investment products, according to a Wall Street Journal Online/Harris Interactive Personal Finance Poll that surveyed those in the 45-54 age bracket. According to the survey, the most common reasons for such premature withdrawals are a family member losing a job and the cost of a downpayment on a home. However, nearly one third of those who withdrew funds cannot pay them back, and 45 percent either cannot pay back the funds or have not begun to do so.
SEC’S FUND COMPARISON PORTAL
The Securities and Exchange Commission has launched an online portal that enables investors to more easily read, analyze and compare the information provided by mutual funds related to fund cost, risk and past performance. The Mutual Reader, available on www.sec.gov/xbrl, allows investors to review the interactive information provided by mutual funds, including a fund’s cost, risk, investment objectives and strategies, and historical performance.
NAPFA TO EMBARK ON ROAD TOUR
The National Association of Personal Financial Advisors will be hitting the road beginning September 1 with a year-long bus tour that aims to promote financial literacy throughout the United States. Funded by TD Ameritrade, the bus will visit some 200 cities, and NAPFA advisors will be on board to offer free financial advice to consumers, as well as conducting educational workshops.
MOSS ADAMS TAPS NEW WEALTH MANAGEMENT CHIEF
Super-regional CPA and business advisory firm Moss Adams has named Rebecca Pomering chief executive of its Moss Adams Wealth Advisors LLC unit.
Pomering most recently served as practice leader for the firm’s financial services industry consulting division. In her new role she will oversee the growth of the division in key geographic states such as Washington, Oregon, California, New Mexico and Arizona. She joined Moss Adams in 1997 providing practice management research and consulting services to financial advisory firms.
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