Those who have attended college, have high household incomes or children are most likely to save for retirement, the study showed. Nearly 85% of college graduates save for retirement compared to 62% of people with a Graduate Efficiency Diploma or GED.

Arizona CUs Tout Loose Change As Means to Save

PHOENIX– Residents here will be encouraged to save their loose change as a way to start a savings plan during Save Your Change Week Oct. 22-27.

As an incentive, Arizona Central Credit Union, Arizona Federal Credit Union, Desert Schools Federal Credit Union, National Bank of Arizona and Wells Fargo will waive the fee incurred to use a coin counting machine at some locations.

There is more than $10 billion dollars in loose change sitting in homes and cars across America not earning any interest, according to Arizona Saves, a financial education firm. That breaks down to approximately $99 of loose change per family.

SEC Approves Temporary Non-Discretionary Account Rule

WASHINGTON — In September, the Securities and Exchange Commission approved a temporary rule that allows firms that are dually registered as broker-dealers and investment advisers to sell clients in non-discretionary advisory accounts securities that are owned by their firms, as long as disclosure requirements are met.

The temporary rule coincides with a U.S. Court of Appeal for the District of Columbia Circuit Oct. 1 deadline for fee-based brokerage accounts to be transitioned. The SEC's deadline is Dec. 31, 2009. The additional two years should provide the commission with more time on regulations for both the investment advisory and broker-dealer industries, experts say.

Principal trades are those transactions where a broker sells stocks or bonds from his firm's own inventory, rather than buying or selling on the open market, according to the Financial Planning Association. The practice sometimes opens the door to significant conflicts of interest, as described by the SEC in the rule providing the new, temporary exemption.

"There's absolutely nothing inherently wrong with principal trading," said FPA president Nicholas A. Nicolette. "At times an investor may benefit from such trades. However, when the shares are owned by the firms, consumers also need to be aware of the potential for abuse where a firm might make an effort to dump shares that are declining, or poised to decline in value on unsuspecting customers. Consumers need to be aware of the impact principal trades can have on their financial well-being."

IRA Rollover Activity May Command 25% of Assets in 2008

WASHINGTON– According to the Financial Planning Association, at least 25% of individual retirement account rollover activity is expected in 2008.

Forty-seven percent of financial planners said they expect 10% to 30% of their business to come from serving retirement income and planning needs.

The study also found that a significant portion of financial planners' clients are already retired, and these advisers expect that to accelerate over the next five years. The shift to retirement income will significantly impact advisers' resources and this may accelerate the trend toward "fee for service," according to FPA.

Wealth Management Interest Gaining Ground

NEW YORK — Compared to 2003, there appears to be more interest in wealth management.

Nearly 33,000 articles with the topic "wealth management" will be published this year, a 5% increased over 2006 and double that of 2003, according to New York-based Walek & Associates, a public relations firm that tracks such articles.

More than 6,580 press releases containing the term will be released this year, up almost 10% from last year and nearly 65% more than the 2003 total, the firm noted.

"Media exposure provides a unique platform for wealth management firms to showcase the long-term, process- and relationship-driven advice that differentiates wealth managers from traditional, transaction-oriented financial advisers," said Thomas Walek, president of Walek & Associates.