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Headlines you need to know this week   —   June 20, 2017

Rising health costs may mean lower retirement savings

More than 60% of participants in 401(k) plans in a survey cited concerns about rising health-care costs as the reason for contributing less to retirement plans. Higher health-care expenses also have more effect on men than women, with 72% of women noting they spend less on recreation or entertainment to cover health-care costs, compared with 59% of men.

Financial advisors fight against elder fraud

A financial advisor could be the first line of defense for seniors against elder fraud. Seniors lose about $36.5 billion each year to financial fraud. In 2015, broker-dealer firms reported nearly 2,300 cases of suspected senior fraud. More than half of those cases involved family members, or other third parties, trying to access seniors' accounts, the report stated.

Technology is disrupting the role of advice

The role of financial advisors is changing. New research from the Boston Consulting Group cites technology and better-informed clients as drivers of change. Relationship managers in the future will likely be required to have more financial education and the ability to adapt quickly to technology tools.

Women, millennials lead the way in socially responsible investing

A survey of high-net-worth investors found the number of women and millennials allocating assets to socially responsible investments surged in the past two years. The percentage of millennials who had begun investing in SRI jumped to 28% from 17% in 2015, and for women the number rose to 18% from 9%. More men said they were interested in this type of investing — increasing to 31% from 16% in the prior study.

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