According to a Genworth study, half of the 1,200 caregivers surveyed said providing care for loved ones took a significant toll on their careers, and 11 percent said they lost their job. Ten percent had to change careers completely. On average, caregivers reported losing one-third of their income. Genworth, a company that focuses on long-term care insurance, life insurance and annuities, said the biggest problem is that people are not planning for long term care early enough, with the biggest factors being “not wanting to admit care was needed” and “not wanting to talk about the issue.” “Although caregiving brings many rewards, it can also have very real negative consequences for families who haven’t planned ahead for the possibility of their loved ones needing long-term care,” said Suly Salazar-Layton, director of thought leadership at Genworth’s U.S. Life Insurance Division. Genworth published more of the key findings from the study in an infographic.
For financial advisors looking to launch a digital customer portal that’s more customized than some of the “white label” products, Advicent Solution’s Narrator tool lets firms build their own apps from a set of pre-made widgets. Advicent announced Friday that Narrator will integrate NaviPlan, its financial planning application, in early 2016 and will be followed by integrations with personal financial management tools and account aggregation tools. In a release, Advicent said the integrations will give advisors the ability to create gameified lead generation applications, social media data-gathering tools and interactive retirement planning capabilities that are branded and unique, giving clients a modern experience that they can’t find anywhere else.
A new study from software firm Amdocs has highlighted Europe as the global region that is set to be a hotbed for mobile finance. According to the report, almost 50 percent of European respondents have yet to use any form of mobile financial services (MFS), such as banking systems or medical payments. But the survey shows that there are signs for growth, as the research indicated that 15 percent of European respondents are likely to use MFS and products within the next year. In the United Kingdom, about half of consumers said they would likely use mobile payments if they are offered rewards for usage. A total of 45 percent of respondents cited greater data security as the most important factor to increase adoption of MFS.
A fight is brewing between late Simpson co-creator Sam Simon’s estate and a man named Tyson Kilmer over funds to care for Simon’s dog, according to The Daily Mail. Simon bequeathed his dog, Columbo, to dog-trainer and friend Kilmer. Simon also wrote language into his trust allocating “reasonable resources” for Columbo’s continuing care (apparently, Simon pampered the dog during life, including a $3,600 a month acupuncture regimen). Kilmer claims that he received the dog but no funds from the trust. Trustee Julie Miller counters that Kilmer has demanded “ludicrous sums” of up to $1.7 million, which the trust can’t legally distribute. Kilmer denies these allegations. Damningly, Simon’s will also named a back-up to take care of Columbo in case Kilmer couldn’t, who is willing to so free of cost, but Kilmer refuses to give up the dog, citing his responsibility to Simon.