Crazy Question of the Day: Will Bitcoin Ever Be a Fiduciary Asset?
The mysterious Satoshi Nakamoto created Bitcoin (BTC), the first digital currency as a result of the 2008 financial crisis. Bitcoin blockchain is the first example of monetary system operating in a totally decentralized manner bypassing the regular financial system. From the technological perspective BTC is a complicated endeavor that involves a lot of moving parts....Read More
DOL Fiduciary Rule Best Interest Requirements: Creditor Protection in ERISA Plans
Is it important to factor in safety from creditors during a 401(k) rollover? How safe was the money in the 401(k) and how safe will it be in an IRA? How important is it to consider this as a financial advisor? What is protected in a 401(k)? To put this into perspective, a 401(k) account...Read More
DOL Fiduciary Rule Groundhog Day: What Just Happened & What It Means For You
For those participating in the financial advice industry, it might seem like living out the movie Groundhog Day. Except instead of Bill Murray, the star of the movie is Alexander Acosta. Constant news of delays, new legislations that attempt to repeal the rule, repeated comment periods have become the norm in our Punxsutawney of financial...Read More
Do I have to document best interest when doing rollovers?
How does the DOL Rule Affect Me? Do I have to document best interest when doing rollovers? Effective June 9, 2017, financial advisors who provide investment advice to retirement plan participants have to adhere to the Impartial Conduct Standard. The standard essentially stipulates the following: Best interest standard of care, which essentially combines ERISA’s prudent...Read More
What June 9th DOL Rule Date Means For You: How to Not Be a Low Hanging Fruit for Litigation Attorneys
What June 9th DOL Rule Date Means For You: How to Not Be a Low Hanging Fruit for Litigation Attorneys On May 22, Secretary of Labor Acosta confirmed something that we argued since the DOL Fiduciary Rule got delayed in March. Specifically, he said that June 9th is the date when ANYONE advising on retirement...Read More
RiXtrema’s Record Study of Retirement Plan Investment Expense Finds Over $17 Billion of Annual Waste
RiXtrema’s Record Study of Retirement Plan Investment Expense Finds Over $17 Billion of Annual Waste Fiduciary best practices research took 17 days of non-stop calculation on powerful 32 CPU Core computers NEW YORK– April 11, 2017 – RiXtrema announced the findings of a big data quantitative research effort on defined contribution plans. The largest ever...Read More
Breaking News on Rollovers: What DOL Really Did on April 5
We want to bring something very important to your attention regarding DOL Fiduciary Rule delay that was announced yesterday. The rule is delayed until June 9th and further examination of various provisions will happen throughout 2017. So, what will really happen on June 9th? Something very important. Any rollover advice will now have to be...Read More
New Portfolio Crash Test Scenario: Trump Tax Cuts
One of the recurring themes through the presidential elections and the speech yesterday were the tax cuts that are coming to businesses and middle class individuals. We in RiXtrema decided to examine what are the possible impact on the US economy. In our opinion the tax cuts should boost growth and positively stock market while...Read More
Skip Schweiss on New Horizons Opening in front of RIAs
For those of you who missed, some tremendously insightful comments from Skip Schweiss at TD Ameritrade as to potential sources of revenue growth for advisors. Enjoy: http://www.financial-planning.com/news/td-ameritrade-why-rias-are-missing-a-5-trillion-market-and-what-they-can-do-about-it
“Arguably, the Most Comprehensive DOL Rule Solution”
Bob Veres researches DOL Fiduciary Rule software solutions and finds that “Arguably, the most comprehensive DOL Rule solution is IRAFiduciaryOptimizer, offered by RiXtrema”. Here is a link to his study: http://www.advisorperspectives.com/articles/2017/01/23/dol-fiduciary-compliance-part-ii-the-most-comprehensive-solutions-for-ria-firms