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As reviewed by a recent article from InvestmentNews, there is even more regulation in the works for the retirement industry. New 401(k) disclosures may require many 401(k) investment providers to give a “monthly estimate” for what their current retirement savings amount to. While lots of big name investment providers in the industry are against this idea, it’s hard to argue that this information won’t be helpful to participants in 401(k) plans to know how they should be saving. InvestmentNews reports that these providers claim that the regulation will be giving an unfair advantage to annuity products which won’t be required to report this. While this does seem to be true,...

Daniel Satchkov

11 Dec 2018

15 Useful Weekly Stats for Financial Advisors: Week of December 10, 2018

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 weekly update with permission: Matt Meyer Co-Founder 424.387.4143 MMeyer@tblueprint.com Michael Robinson Co-Founder 619.404.3038 MRobinson@tblueprint.com Site: https://www.tblueprint.com

Luke St. Angelo

10 Dec 2018

When Wasteful Plan Fiduciaries Tell You That Savings You Propose Are Not “apples-to-apples”

When it comes to bringing a needed change to a retirement plan, there will usually be a fair amount of push-back from the third-party administrator or a plan’s record-keeper or current plan fiduciaries. Advisors using the 401kFiduciaryOptimizer quant analysis tool can analyze any 401(k) plan and visually see how much the plan can save by replacing expensive funds with highly similar less expensive vehicles. But the question of revenue sharing inevitably comes up and some plan fiduciaries think they can use opacity of rev sharing arrangements as defense against much needed plan optimization. When presented with an optimized plan proposal, a plan sponsor will likely push back saying that...

Daniel Satchkov

07 Dec 2018

5 Articles for the Financial Advisor Weekend Reading List: December 8-9, 2018

Here are five suggested articles for financial advisors to read this weekend: 1. The Latest In Financial Advisor #FinTech (December 2018) – Welcome to the December 2018 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management! 2. 401k Fiduciary Lawsuit Highlights Fee Benchmarking – 401k Fiduciary Lawsuit concerns are driving behavior and practices among Retirement Plan Committees. Fiduciary responsibility is something employers should be hyper-vigilant about since we are noticing more 401k Fiduciary Lawsuits. 3. How to Really Reach Younger Investors and Plan Participants – Younger savers aren’t...

Daniel Satchkov

07 Dec 2018

Here is How 401K Advisors will Benefit from Newly Proposed DOL Rules

Advisors could benefit from the proposed MEP regulations by being able to aggregate new and existing clients in the same geographic area into one common 401(k) plan. In October the DOL expanded the rules under which small businesses can aggregate participants into a common workplace retirement plan. This expansion reduces the restrictions around which business can claim to have a common bond. The new proposal will allow businesses to claim to have a common bond based on location and not just common business line. This geographic collectivization is a potential boon to advisors by offering MEPS to employers to help reduce the plan associated investment and administrative costs. This pathway...