In a nutshell, what was initially considered a “pick me because you like me” decision on the part of the prospect has been reframed as a “pick me because I sold you investments” decision. It’s a subtle distinction, but it drives the difference between a fiduciary act and a non-fiduciary act.
Tag "IRA"
When is a “problem” not really a problem? And what can be better than success, even if no one knows about it.
What’s the Goal? Last I heard it was preparation for retirement via tax preferred savings … but, looking around at what is typical industry practice, perhaps I have it all wrong.
Although the Rule appears to be directed primarily at service providers, plan sponsors still have a fiduciary duty to monitor plan compliance, and that includes complying with the demands of this new rule.
Because things happened so fast, everyday folks could see in real time how long-term financial systems unfold. In the end, this may have been the greatest lesson of all, and it came courtesy of living in the real-world economic laboratory that was 2020.
You might think you can ignore PEPs. And you might be in for a surprise.
Long industry veteran tells it like it is. How will his comments change your thoughts on these important subjects?
Astute fiduciaries understand this danger. They can proactively head off turbulence before the waters get particularly bad.
Before you start to panic, take a deep breath and relax. The retirement savings industry is an aircraft carrier. It can’t turn on a dime.
Exclusive Interview: Larry Starr Explains “Galactically Stupid,” 3% Math, and More!
Interested to know why small plans are different? What the dumbest retirement idea in the past 10 years was? What the most successful concept was? Read all about it in this article.