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In 2019 with the DOL’s fiduciary rule in the ground, individual states are starting to pick up the mantle. Is this ongoing trend a positive or a negative one? Here are a few ideas for you to consider first: PRO Small scale testing Looking back at the old DOL rule, there was a lot of debate about its effects from many different stakeholders. This is to be expected because there is a high level of uncertainty about what the long term effects of such a policy will be. The advantage of having fiduciary rules on a state by state basis is that different states can experiment with different variations. This...

Daniel Satchkov

26 Mar 2019

15 Weekly Stats for Financial Advisors: Week of March 25, 2019

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 this 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

Gennady Prokofyev

25 Mar 2019

State and Local Government Employees Approve of Auto-Enrollment

“Auto-enrollment revolution” in retirement plans is considered one of the most important innovations in investing and savings. It’s already recognized by many behavioral economists and experts, such as Richard Thaler, Shlomo Benartze, as an option that will lead to better overall outcomes , and a recent study shows that it’s getting through to the general public as well. ICMA-RC and the Center for State and Local Government Excellence survey shows that almost a half of state and local government employees approve of automatic enrollment in defined contribution plans. Majority of the employees (77%) say that if they were auto-enrolled into a supplemental retirement plan, they would remain invested in their...

Daniel Satchkov

22 Mar 2019

New Technology is Bound to Change the Landscape of the Retirement System

I agree with Ted Godbout in his argument that new technology is bound to change the landscape of the retirement system. It is very clear that following the new tech trend is the game to be in. The early adopters of it create a solid foundation for future growth. Big data, cloud computing, AI, machine learning are new methods that platforms are incorporating in their processes to create new technologies for advisers. New technology is beneficial throughout various steps of the retirement process starting with automatic enrollment, asset allocation, risk adjustment. With initial help to educate a consumer, the system can learn the preferences which can be used further to...

Daniel Satchkov

21 Mar 2019

Mad Cats, Free Dollars & Monetary Policy Fat Cats

“To begin with,” said the Cat, “a dog’s not mad. You grant that?” “I suppose so,” said Alice “Well, then,” the Cat went on, “you see a dog growls when it’s angry, and wags its tail when it’s pleased. Now I growl when I’m pleased, and wag my tail when I’m angry. Therefore I’m mad.”-Lewis Carroll, Alice’s Adventures in Wonderland & Through the Looking-Glass You must have heard the term Modern Monetary Theory (MMT) quite a bit lately on pages of New York Times, Wall Street Journal, Bloomberg etc. Whether you spent some time trying to understand it or not, you are in for a real treat, as we will...