When hiring your company’s 401(k) advisor, choosing a fiduciary mitigates your plan sponsor liability. But which type is best? Metaphorically, a 3(21) fiduciary acts as your co-pilot making plan asset recommendations, but the liability remains shared if the “plane crashes.” With a 3(38) fiduciary, you instead get out of the cockpit and become a first-class […]
Mitigating your fiduciary liability: pilot or co-pilot? Read More »
Recently, one of our financial planning/wealth management clients asked us to coordinate his assets under our management with his 401(k) plan assets. Unfortunately, we found the task impossible because his investments — while they had familiar names like Janus, TRowe Price, Fidelity, etc. — bore no resemblance to the actual investments of the same names.
Well-hidden fees are costing 401(k) plan participants Read More »
Fewer than 1% of financial advisory firms have been awarded the coveted Center For Fiduciary Excellence (CEFEX) Certification in the United States. Although the term “fiduciary” has become more commonly used in our industry, the definition and expectation of fiduciary responsibility has unfortunately been muddied and it is hard to trust you are getting the
The Certified 401(k) Difference Read More »
Millions of Americans register for a 401(k) through their job, but often discover too late that they are not on track to save enough for their retirement. According to a recent U.S. study, the average 401(k) plan participant only holds $42,000 in their retirement account and unfortunately are not receiving proper guidance from their plan
Is your 401(k) on track? Read More »