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An article from The DigitalFA on the 43 Twitter Tips and Treats for Financial Advisors, provides excellent advice for financial advisors who are using Twitter to grow their business or are planning to integrate it into their marketing strategy. While every single point is important there are a few that will separate a successful twitter campaign from a simple presence on the popular social media platform. The Do’s: 1. Do have a social media strategy. Better to plan first rather than fly off in all directions at once. When you open a new twitter account for yourself or your business you have a clean slate to work with. It is...

Daniel Satchkov

03 Aug 2018

5 Articles for your weekend reading list: August 3, 2018

Here are five suggested articles to read this weekend: 1. Cryptocurrency Comes to Retirement Accounts – While debate continues to rage over the efficacy of investing Bitcoin and other so-called cryptocurrencies in retirement accounts, platforms are increasingly available to make it happen. The latest, Equity Trust Company, announced that it has launched its digital asset platform. (401kspecialistmag.com) 2. Are Your Vendors Fiduciaries? Why Does It Matter? Ask The Lawyer – Using non-fiduciary plan providers for services or investing may cause a plan committee to assume more retirement plan risk than the plan sponsor wants to accept. (401ktv.com) 3. Public Comment Letter on the SEC Advice Rule and Separating Advice from Sales...

Daniel Satchkov

03 Aug 2018

Fiduciary advisers should be weighing the risks and upsides of securities lending

Fidelity Investments is making 401(k) advisers’ lives a little more complicated. The Boston-based behemoth dropped some eye-popping news Wednesday: as of Friday, it will begin offering two index mutual funds with a price tag of 0.00%. Yes, funds free of cost to investors — the industry’s first. The funds, in the total-market and international equity categories, will be available to retail investors. They won’t be offered to participants in defined-contribution plans, at least initially. But let’s not kid ourselves — it’s only a matter of time before Fidelity or another index-fund giant, perhaps BlackRock Inc. or Vanguard Group, brings a no-cost fund to 401(k) investors. Read full article here: http://www.investmentnews.com/article/20180802/BLOG03/180809980/fidelitys-zero-cost-funds-raise-issues-for-401-k-advisers

Daniel Satchkov

03 Aug 2018

Advice for plan sponsors on becoming better fiduciaries

Investment Fiduciaries typically have a close, ongoing relationship with their 401(k) plan. They consult plan participants and employers how to make better investments out of their retirement plan contributions and afterwards they pledge to continue monitoring the investments and assess their prudence over time. Still that is a role of a point in time fiduciary, serving as a fiduciary at a particular moment with a one-time recommendation. With the evolution of the vacated DOL Fiduciary Rule and the expansion of what it means to be a fiduciary, there are more situations where advice at a single moment in time could be seen as a fiduciary act. But this doesn’t make you...

Daniel Satchkov

02 Aug 2018

How millennials are under-investing in their retirement accounts

Lots of outlets have been reporting on how Millennials are under-investing in their retirement accounts and instead sticking with cash or just a regular bank savings account with little to no interest. 401kSepcialistMag proposes that the “risk-averse” younger generation may be victims of “post-financial stress disorder,” after 2008 market crash. While this may be true, the survey referenced also gives a really great insight into other reasons millennials seem to be sticking with cash investments. For example, now there are lots of no-fee, low minimum investment savings accounts making them incredibly easy to get and available. When you couple this with what seems like a lack of knowledge about investing...