The one threat many retirees aren't financially prepared for

Lucy Nicholson/Reuters

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The one threat many retirees aren't financially ready for (WealthManagement.com)

Many clients are worried about the financial ramifications of getting Alzheimer's, but they have no idea what to do about it, according to David H. Lenok of WealthManagement.com.

This presents an opportunity for advisors to help their clients better prepare for the future. 

According to the Alzheimer's Association, about 11% of those over 65 have the disease. "The estimated lifetime cost of care for someone with Alzheimer’s is $174,000," writes Lenok. "Many are completely unequipped to handle this additional expense."

How folks close to retiring should keep their portfolios (Charles Schwab)

The markets have been all over the place since last summer. That's not exactly the type of environment investors close to retirement like to see.

"Money that you expect to need within the next four years should be in lower-risk, more-liquid investments," writes Rob Williams. "Retirees’ portfolios should include a mix of investments to support spending in the short, intermediate and longer term."

Volunteering locally is a great way to advertise your business (Financial Planning)

"One of the smartest ways that I have found to help ramp up my practice is to be involved in my community through volunteer activities," writes Lauren Gadkowski Lindsay, the director of financial planning at Personal Financial Advisors in Covington, La.

"Connecting with people who are like me, with similar interests and values, is an easy way to build the trust required for a potential financial planning relationship," she added.

Wells Fargo scooped up a former Merill Lynch squad (Think Advisor)

Wells Fargo advisors announced that it added a new advisor team from Bank of America Merrill Lynch: the Holyszko Group of Wells Fargo Advisors, reports Marlene Y. Satter. The team joined a branch in Saginaw, Michigan, and now reports to Anthony Thorpe. It manages around $165 million in client assets.

An unregistered Florida fund manager faked his 5-star rating and his criminal background (FA Magazine)

Steven Zoernack, an unregistered Florida investment advisor, was charged with hiding his criminal background from investors and taking $1 million from two funds he managed, reports Karen Demasters.

He also provided false information to the rating agency Morningstar to gain the title of a "Morningstar Five Star Rated Fund" for one of his funds. On top of that, he also hired another firm to manipulate search results and gave them false information, saying he was a successful investor and a philanthropist.

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