Finding the Right Retirement Plan Recordkeeper for Your Client

Posted by Thomas Crutchfield, CFP, AIF, PSP

August 23, 2016 at 10:00 AM

You’ve probably heard that retirement plan recordkeeping is commoditized. But is it? In my view, each provider has strengths that should be considered. When you incorporate information about all interested parties (including your services as the plan’s advisor) that will interact with the provider during the lifetime of the relationship, the “right” recordkeeper can emerge. Conversely, failure to do so will eventually cause a point of failure. For example, a decision based solely on the plan sponsor’s needs might not integrate with your practice’s needs, meet the usability needs of plan participants, or fit the functional needs of the plan’s third-party administrator (TPA).

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Topics: Retirement Consulting

5 Common IRA Misconceptions

Posted by Sheryll Yee

July 13, 2016 at 1:30 PM

Although some IRA planning and investment strategies appear simple, they can become expensive and time consuming if implementation errors are made. Your clients could pay unexpected taxes or penalties, their IRAs could lose tax-exempt status, or their beneficiaries could experience difficulties when inheriting IRA funds. To help your clients avoid these issues, here are five common IRA misconceptions to keep in mind.

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Topics: Retirement Consulting

Quantitative Review of Retirement Plan Investments: The Criteria Set

Posted by Mathew Powers, CFA, AIF

May 11, 2016 at 1:30 PM

Under ERISA, retirement plan fiduciaries have a duty to ensure that the menu of investment options available to plan participants is prudently selected and monitored over time. To this end, the Department of Labor highly encourages plan fiduciaries to establish an Investment Policy Statement (IPS) to outline the plan’s investment strategy and guide investment decisions. An IPS will typically define the plan’s investment objectives, outline responsibilities for fiduciaries, and define the process for how investment options are to be selected and monitored. One critical component of the IPS process is establishing the criteria set—the set of metrics by which investments are to be quantitatively considered.

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Topics: Retirement Consulting

5 Steps for Stronger Retirement Plan Asset Retention

Posted by Dan Collins

May 10, 2016 at 10:00 AM

With more than $24 trillion in assets as of December 2015, the retirement marketplace can be a lucrative arena—and many of you have seized the opportunity to build your retirement plan business. Whether your client is a multinational for-profit corporation, midsized educational institution, or locally based not-for-profit organization, you’ve established yourself as an expert on its benefits packages, setting your practice apart as the local go-to resource. But what good is a new $2 million client if an existing $3 million client leaves you for greener pastures?

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Topics: Retirement Consulting

What You Need to Know About Retirement Plan Auto-Features

Posted by Derenig Kostikian

May 4, 2016 at 1:30 PM

Today’s workforce relies primarily on defined contribution plans to help them save for retirement. Although employee contribution rates and account balances are up, participants tend to defer only enough to receive the company match—and that might not be a high enough savings rate to meet their retirement income goals.

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Topics: Retirement Consulting

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