Nov 10, 2016
Beginning in April 2017, a new Department of Labor rule goes into effect, changing how a fiduciary is defined. The rule aims at ensuring advisors put their clients’ best interests first (instead of, for example, recommending products that generate higher commissions). For some brokerage and advisory firms, the changes mean little. But for others,... Read More
May 06, 2015
As your clients approach retirement age, they need your help more than ever! There are over 2,500 rules for the Social Security system and as many as 81 different potential strategies. The right Social Security strategy depends on a number of factors, such as age at retirement, financial needs and life expectancies.
Most people don’t fully... Read More
Mar 05, 2015
Recently, I enjoyed dinner at a fantastic local restaurant using a gift card I had received over the holidays. My gift card covered most of the bill and I paid for the remainder – and the tip – using my credit card. As a result, my tip appeared outrageously generous on my receipt and it didn’t go unnoticed. Shortly afterwards, I received an email... Read More
Feb 24, 2015
Last week the Employee Benefit Research Institute, announced results from their research on the retirement savings gap and the results are staggering. According to their analysis, the aggregate national savings deficit is about 4.13 trillion for U.S. households ages 25 – 64. Clearly, America Saves Week couldn’t come at a more appropriate time!... Read More
Feb 02, 2015
When it comes to the future of Americans and their retirement savings, the glass is either half empty or half full, depending upon whom you ask. A recent article from The Providence Journal suggests a less optimistic viewpoint, citing that more than half of all U.S. households have not saved adequately for retirement, and the problem is growing... Read More
Jan 21, 2015
According to a recent Fact Sheet released by the White House, President Obama is calling for tax reforms that would include provisions for retirement. At his 2015 State of the Union Address, he referenced his plan to expand access to retirement savings options for middle-class workers. Whether you support the President’s plan or agree with his... Read More
Dec 10, 2014
Mark Miller of Financial Advisor wrote a piece last week on how “People are Flunking Retirement Readiness, And What To Do About It.” He uses an airplane analogy illustrating that 30 years ago a professional financial pilot would manage your defined pension plan, but today most 401(k) plans are being controlled by the passengers or plan... Read More
Nov 25, 2014
The Law of Inertia: A body in motion will stay in motion and a body at rest will stay at rest unless an external force acts upon it.
The Law of Inertia, while originating in the world of physics, is amazingly applicable to the world of retirement planning. As plan sponsors and financial advisors know, getting people who are not saving to start... Read More
Nov 18, 2014
A new trend has entered the industry to help participants with their savings woes called participant-level advice. A study by Aon Hewitt shows that participants who received investment advice average 3.32% higher returns than those that do not get advice. On Thursday, November 13, PAi hosted a free Google Hangout that went into details on the... Read More
Nov 05, 2014
“What will you do for my retirement plan?” “What can I expect you to do for my business?” These are questions all financial advisors have heard from potential clients, as well as current clients. To help proactively answer these questions, and establish trust, create a Value Proposition Statement.
A Value Proposition Statement (VPS) is a... Read More