Case Study: Working with Non-Audited Plans in 401kFiduciaryOptimizer
The Ask The 401kFiduciaryOptimizer is a great tool to analyze 401(k) plans, but it works mostly with audited plans with a Schedule H (Schedule of Assets) attached to their most recent form 5500. But does it really mean that there is no way we can analyze non-audited plans considered for less than 100 participants? The...Read More
DOL Rule Fiduciary 2.0: What’s happened and What’s coming?
The fiduciary rule was initially supposed to be implemented on April 10, 2017 with a phasing-in period until January 1, 2018. Meanwhile, after the President Trump took office, he requested the rule to be reviewed. Then the implementation was pushed back to July 2019.
Funding a 401(k) Vs. IRA: Which is More Preferable?
Choosing the right strategy for retirement savings is a challenge. Jamie Hopkins, the Director of Retirement Research at Carson Wealth, provides a clear cut comparison of the two most popular saving options: individual retirement account (IRA) and 401(k) profit sharing plan. Since 401(k) is employer-sponsored it provides many advantages, such as, the ability to purchase...Read More
Red Flag: Do 401k Plans Need a QDIA?
What is QDIA? Why is QDIA important? What are the characteristics of a QDIA? Does a plan have to have a QDIA? What are the requirements of the plan sponsor? How to identify plans with no QDIA Red Flag: Do 401k plans need a QDIA? What is the fiduciary risk of not having a QDIA?...Read More
15 Weekly Stats for Financial Advisors: Week of April 8, 2019
Matt Meyer and Michael Robinson are founders of The BluePrint Insurance Services. Their mission is to be the premier insurance partner for RIAs and comprehensive financial advisors. The BluePrint provides an operational insurance platform that allows our partners to provide the highest level of insurance access and support. We feature this weekly update with permission:...Read More
Maryland Fiduciary Bill Rejected by Lawmakers
Another great incentive initiated by the state of Maryland is rejected by the lawmakers of the state. The bill that was introduced in February of 2019 by the group of state senators had protectionism of consumers at its foundation. It was intended to protect financial consumers when conducting financial transactions and receiving financial services. It was...Read More
Case Study: Eliminate IRA Rollover Worries for Your Clients
The Ask When your client asks “What do I do with the money in my 401 (k) plan when I change jobs?” we can create a hypothetical scenario where a prospect/client is about to change their employment and this is actually very real for all of us during our employment years. Changing a job can be...Read More
Suggested New Client Questions for Financial Advisors
There are a lot of questions must be asked by advisors when they meet with a qualified prospect or a new client. Here are a few that are quite important, along with some reasoning behind them. Background Questions Have you ever used an advisor before? Why do you think you need professional help? Why did...Read More
15 Weekly Stats for Financial Advisors: Week of April 1, 2019
Matt Meyer and Michael Robinson are founders of The BluePrint Insurance Services. Their mission is to be the premier insurance partner for RIAs and comprehensive financial advisors. The BluePrint provides an operational insurance platform that allows our partners to provide the highest level of insurance access and support. We feature this weekly update with permission:
Here’s Why Financial Advisors Should Not Overlook Generation X
In the recent white paper titled, “Neglected Generation” from Cerulli Associates it is argued that the entire generation, Generation X, has been overlooked by financial advisors. It may well be the case with a lot of hype about being ready to accommodate Millennials. However, building a business strategy based on this approach can be a grave...Read More