Quick Hits: Only Reason They Pick You | Fast Food Inflation | Blaming Biden

Here are your Quick Hits:

Fast food inflation compared to Listed inflation is WILD!

What Advisers Need to Know Now About Giving Rollover Advice After Sept 23, 2024 (Michael Kitces)

  • If you are wanting to get a good summary and deep dive on what is to come if the DOL goes into play in September – this is it.
  • “On April 25, 2024, the Department of Labor (DoL) issued the final version of its Retirement Security Rule (the “Final Rule”), which imposes an ERISA fiduciary standard “that applies uniformly to all investments that retirement investors may make with respect to their retirement accounts”.”
  • In sum, the Final Rule expands ERISA’s stringent fiduciary obligations to cover almost any situation where advice is provided for a fee to a retirement investor where there is an expectation that the advice being given is in the investor’s best interest.

Financial Advisors Reduce Clients’ Stress: Survey

  • Hey I found a positive article about how Financial Advisors help clients!
  • “About 55% of the participants who had advisors said their advisors help them feel less stressed.”
  • “About 51% of the survey participants with advisors said their advisors ease stress when market volatility is high.”

Majority of Americans wrongly believe US is in recession – and most blame Biden

  • The headline says it all, but the numbers from this poll are incredible.
  • “Nearly three in five Americans wrongly believe the US is in an economic recession, and the majority blame the Biden administration”
  • This is a crazy stat! : “49% believe the S&P 500 stock market index is down for the year, though the index went up about 24% in 2023 and is up more than 12% this year.”