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Client’s best interests should always come first, financial advisors say

By BECKY GILLETTE A new U.S. Department of Labor (DOL) regulation requires advisers to 401(k) and IRAs to act in their clients best interests. Supporters argue that the measure is needed to protect people’s retirement savings from being eroded by high-fee products recommended by financial advisers. Opponents are concerned the rules are too complex making compliance difficult and expensive. The ...

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IKE TROTTER — Breaking bad money habits

Do bad money habits constrain your financial progress? Many people fall into the same financial behavior patterns year after year. If you sometimes succumb to these financial tendencies, it’s not too late for 2016 to start turning things around: #1 – Living without a budget. You may make enough money that you don’t feel you need to budget. In truth, ...

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US stocks make small gains, led by health care stocks

U.S. stocks are mostly higher Monday afternoon following two weeks of losses. Health care stocks are making the biggest gains. Energy, metals and machinery companies are falling. Weak economic reports from China are sending the prices of fuels and precious metals lower and raising more concerns about a slowdown in the world’s second-largest economy. KEEPING SCORE: The Dow Jones industrial ...

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Gunn wants another evaluation of MDOT spending

  By TED CARTER Lawmakers are set to take yet another look at the effectiveness of Mississippi Department of Transportation’s spending, House Transportation Chairman Charles Busby says. Busby does not think another evaluation is needed just two years after a report from the Joint Legislative Committee on Performance Evaluation and Expenditure Review, or PEER, gave MDOT passing grades on its spending ...

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State’s failure to refill prepaid college fund, tapping of abandoned property fund worry Treasurer

By TED CARTER Two approaches Mississippi legislators took to help make fiscal ends meet in the 2016 session are especially troublesome to Treasurer Lynn Fitch. One is a refusal to replenish the Mississippi Prepaid Affordable College Tuition Fund to cover a $127 million shortfall the fund incurred before Fitch suspended new sign-ups for 18 months. Fitch reopened the fund on Oct. ...

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Restocked historic tax credits give new life to restoration projects

By TED CARTER Restorations and conversions of historic buildings across Mississippi stalled when the state ran out of historic tax credits are back in motion with the Legislature’s $60 million replenishment of the credits. The $60 million allocation is for five years and limits the state credits to $12 million annually. Unlike the initial $60 million allocation in 2006, the new ...

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