Best of the Week: Retirement Savings Landmarks in Oregon


Oregon became the first state to introduce a state-administered retirement plan for private sector employees. This week, OregonSaves announced that he reached an important milestone by saving $200 million through the plan. The news comes amid a critical deadline for program expansion. Any business owner who has at least one employee who does not offer an eligible retirement plan must enroll him in OregonSaves by July 31.

New name for Advisor Group. Advisor Group, once part of insurance giant AIG, has grown in recent years with the acquisition of Ladenburg Thalmann in 2020. Backed by private equity, the network of brokerage firms is embarking on a business overhaul that will consolidate broker-dealers into one of his entities. It also adopted a new name, Osaic. The word is not in the dictionary, but it is clearly a word close to “mosaic”. The company said the new name satisfies its desire to have a “unique” nickname.

Protect your seniors. America’s oldest is sadly the target of financial exploitation, with AARP estimating an annual loss of $28.3 billion. Financial advisers have a key role to play in protecting older people, as the Safety for the Elderly Act, which came into force five years ago, guarantees civil liability if they report suspected financial abuse to authorities. can be fulfilled. Experts encourage companies to set up training programs to educate advisers on procedures for intervening on behalf of clients.

Deleting emails can result in hefty fines. The SEC fined JP Morgan $4 million for deleting millions of messages it was supposed to have. The company has erased 47 million electronic communications after an unnamed outside vendor falsely said emails were encrypted in a way that prevented permanent deletion, according to regulators. According to the regulatory order, the bank agreed to pay the fine without admitting or denying the SEC’s findings.

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Beach reads for advisors. Summer is here. We have some great books recommended by our advisors. Suggested reading includes books on parenting, self-development, and, believe it or not, gambling. Citi Senior Wealth Advisor Michelle Griffiths said: QBQ!The question behind the question: Practicing personal responsibility in work and lifeA book by John Miller gave her a new perspective. “Instead of looking everyone out, I started looking inward,” she says. “And I developed a much more positive attitude.”

Too many rule suggestions. The Investment Advisers Association has warned the Securities and Exchange Commission that the potential for overlapping rules could overwhelm advisors’ compliance departments. It asks regulators to pause the rule-making process, assess how different proposals may overlap, and weigh the cumulative impact on the industry. The group also asked the commission to solicit public comment on how the regulatory agenda could be streamlined.

This week’s Q&A features the women we interviewed as part of the package of articles we published in conjunction with the release of the Top 100 Female Advisor Rankings. Crystal Her Julius, who leads her eight-person team at Merrill Lynch, uses her experience of the ups and downs of her life, including births, weddings, graduations, cancer, divorces and deaths, to help guide her team. He said that he is leading the team with empathy. After 15 years in her career, Julius says helping her clients focus on the things they can control is still her biggest daily challenge. And she explains why customers’ fears of another 2008-style market crash are probably unfounded.

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Have a nice weekend!

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