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Late last summer, the U.S. District Court judge in the landmark 401(k) fee case, Tibble v. Edison, brought 10 years of legal wrangling to an end when he ruled in favor of the plaintiffs. The ruling in the Tibble case solidifies the requirement to monitor the investments offered in an ERISA plan, and in particular, the decision reaffirmed that plan participants should be offered the lowest cost share class available when prudent. Using the analytics in our 401KFiduciaryOptimizer, we have long known that the Edison plan was not unique in offering higher priced share classes when lower priced share classes are available. With so many lawsuits claiming fiduciary breaches, we...

Luke St. Angelo

26 Jan 2018

“Merger Helps 401k Advisors Pitch ‘Right’ Decision Makers” from 401kSpecialistMagazine

John Sullivan of the 401kSpecialist just published an article describing RiXtrema’s recent acquisition of Larkspur Data and what this means for retirement plan advisors across the country. Daniel Satchkov and Yon Perullo of the now, Larkspur-RiXtrema, are both quoted describing the recent merger: “Combining strengths of RiXtrema’s financial plan analytics and plan holdings data with the most extensive datasets from Larkspur Data will help advisors create an unbeatable value proposition to plan sponsors,” Daniel Satchkov, president and founder of RiXtrema, said in a statement. “Acquiring Larkspur was a no-brainer decision for us.” “Larkspur are true pioneers in the 401k space and we’ve been using their data for a while,” Yon Perullo said,...

Daniel Satchkov

27 Nov 2017

Larkspur-RiXtrema President Daniel Satchkov on How Quickly Is Disruption Happening In The 401k Space?

Don’t get overly distracted by the fiduciary rule. Daniel Satchkov has some sensible advice, says John Sullivan of 401kSpecialistMag at the Excel 401k(2017) Watch the full interview between 401kSpecialistMag’s John Sullivan and RiXtrema’s Daniel Satchkov at 401kSpecialistMag.com

Daniel Satchkov

10 Oct 2017

How You Can Solve The Most Difficult DOL Rule Documentation Requirement

Today we are going to tackle one of the most difficult data challenges you will encounter in creating a best interest report. You are obligated to act in clients’ best interest and document that whenever you onboard IRA assets after June 9, 2017. As part of acting in the client’s best interest when doing a 401k to IRA rollover, the new DOL fiduciary rule requires advisors to assess what are the fees and expenses. This included the fees and expenses of both the client’s existing 401k and the IRA which they are rolling into. The underlying investment expenses and the advisory fee for the IRA are relatively simple to find...

Daniel Satchkov

05 Oct 2017

Which FINRA regulations are part of the DOL Rule best interest report requirements?

Traditionally, courts and the DOL find some key elements to be most important, in regard to facts and circumstances presented by advisors in their attempts to make prudent decisions. In particular, a financial advisor should reasonably conclude that their report can create a documented record that is necessary for a best interest recommendation of a 401(k) to IRA rollover. This is a crucial aspect of a procedurally prudent process. The IRAFiduciaryOptimizer software created by RiXtrema can create a report to help financial advisors document that a rollover from an ERISA-covered 401(k) plan to an IRA is performed in the client’s best interest. The elements reviewed in the Report include fees,...