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One of the first things to keep in mind (as they say in the legal profession) is that often the best kinds of questions to ask are ones that you already know the answer to. Nine times out of ten, if you ask a plan sponsor if they’ve recently done a diversification or cost analysis on their plan, the answer will be “no”. This gives you an opportunity to highlight the importance of these tasks and offer a solution. It’s also important to ask open-ended questions. You want to get them talking, because if you do (and you listen) you’ll discover what’s important to them AND you’ll probably uncover any...

Daniel Satchkov

15 May 2018

The Sooner You Know About SEC’s Newly Proposed Rule the Better

With the DOL’s Fiduciary Rule seemingly gone, what’s next on the block for fiduciary regulation? The Security and Exchange commission has been planning its own fiduciary rule and regulation rehaul as well. So now that the Federal Register has published the SEC’s proposed reform to investment advice policy, we have a better idea of what could be in store. Let’s break down what the SEC is proposing for its own “fiduciary rule and interpretation”: A main piece of what the SEC is released are some new rules when it comes to disclosing what an RIA or broker-dealer’s relationship really means to a client. The primary goal is to clarify to...

Daniel Satchkov

14 May 2018

How Much Do You Really Know About Avoiding Fiduciary Liability?

If you are a plan fiduciary, then under the Employee Retirement Income Security Act of 1974 (ERISA), fiduciaries can be held personally liable for losses to a benefit plan incurred as a result of their alleged errors or omissions or breach of their fiduciary duties. It is a tough law aimed to make plan fiduciaries responsible for the advice they give because the financial assets affected by their advice will effect a lot of people. The money is for the people who work hard and save money to enjoy the fruits of their labor when they retire. So, you must be diligent and prudent in the advice you provide for...

Daniel Satchkov

02 May 2018

3 Must Have Tools To Grow Your 401K Business

Growing your 401(k) business is about delivering value, plain and simple. If you demonstrate unique value in your proposal by optimizing costs and benefits of a retirement plan, then you can easily justify your fees. But what do you with that great analysis when CFO doesn’t respond? This is why we released Larkspur Executive, a joint effort by the newly merged RiXtrema & Larkspur. The database contains 1.2+ million plan executives with social network profiles, other contact information and a way to find your warm lead in the company. Here is the package: 401kFiduciaryOptimizer: Become a Trusted Plan Advisor By Creating Science-Based Savings For Audited Plans Larkspur Planisphere: Impress Plan...

Daniel Satchkov

01 May 2018

What you need to know about the Lower Fee Classes Report.

Like an MRI machine for a doctor, the Low Fee Alternative report allows an advisor to diagnose problems within a plan. For example, it can identify closet index funds in a plan that is paying for an expensive actively managed fund that is quantitively similar to index funds. One of the pillars of fiduciary rule is to provide a client with the best possible advice about the investment. When it comes down to picking the best share class of the fund, it is worth to take a look at all available share classes to pick the best one that will suit the needs of the client. In most cases, the...