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It is common knowledge that to make money one needs to spend money. It is equally important to properly allocate budget funds and maximize the ROI as a financial advisor. A recent article in Advisor Perspectives focuses on just that while breaking down what goes into the budget and estimating the cost for each portion of it. Every advisor has to consider what has to go into the budget. This includes creating a personal brand, targeting the right audience and finally turning the prospects into clients and closing the sale. This process sounds simpler than it actually is. This is because each factor requires careful planning which will cut into...

Daniel Satchkov

03 Oct 2018

How to Create Tremendous Savings For Plan Participants Without Reducing Your Fees

ERISA based litigation is exploding. Targets of litigation include both large and medium sized plans. Legal challenges against Anthem, Boeing, Lockheed Martin, International Paper, MassMutual & Ameriprise are only some of the examples. Incentives to litigate are extremely high due to significant attorneys’ fees awards. Investment management fees on plan assets represent up to 80% of a 401k plan expense. To help plan sponsors and financial advisors reduce participant costs RiXtrema released ‘401kFiduciaryOptimizer’, a software that analyzes investment fees of funds offered in the plan. ‘401kFiduciaryOptimizer’ uses sophisticated quantitative techniques to identify alternative investments that could save the plan participants significant amount of money. The alternatives offered are very close...

Daniel Satchkov

02 Oct 2018

3(16) Fiduciary Services become more popular among Plan Sponsors

Recently, 3(16) Fiduciary Services became more popular among Plan Sponsors, who want to offload some of the work from their pension plan. In a recent conversation between Fred Barstein, founder and CEO of 401kTV and Darren Holsey, owner of Premier Retirement Plan Services, the following topics were raised: Too many plan sponsors are looking for ways to outsource their responsibility, and one of such ways is payroll integration. It is an important factor in automatic enrollment, because typically the process takes a lot of time and effort, while automatic enrollment makes it faster and easier. The first person a plan sponsor should be contacting with is his TPA, as TPA’s...

Daniel Satchkov

02 Oct 2018

Your 1 minute case study on 401K Retirement Plans: Crash Testing a 401(k) Plan

In today’s 1-minute case study, we’re going to take a look at how we can “crash test” a retirement plan menu using the Portfolio Crash Test tool. Users of our 401kFiduciaryOptimizer will already have access to over 85k retirement plans across the country and can optimize their assets for lower cost alternatives, but using the Portfolio Crash Test we can take it one step further. Using the Portfolio Crash Test, we are going to stress-test the funds and current allocations of a plan. For our example we are looking at NSDS GROUP, INC 401(K) PLAN. In this plan, we can see it’s been rated as a 69 Crash Rating (What...

Daniel Satchkov

01 Oct 2018

15 Weekly Stats: Week of October 1, 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