Collaborative World of Financial Professionals
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Collaborative World of Financial Professionals
The Collaborative World of Financial Professionals requires a strategic foundation.
Curated by Grant Barger
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The Advice Financial Planners Only Share With Their Siblings

The Advice Financial Planners Only Share With Their Siblings | Collaborative World of Financial Professionals | Scoop.it
A little-known loophole about paying off debt, plus more insider guidance from money experts. By Lynn Andriani
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Can't figure out your 401(k)? You're not alone

Can't figure out your 401(k)? You're not alone | Collaborative World of Financial Professionals | Scoop.it
A majority of Americans are downright perplexed over how to manage their 401(k) retirement plans.
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It's in your hands... how will you make it work?

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Should 401k Plan Sponsors Ban Risk Tolerance Questionnaires?

Should 401k Plan Sponsors Ban Risk Tolerance Questionnaires? | Collaborative World of Financial Professionals | Scoop.it
Exposed as misleading as early as 1999, should 401k plan sponsors continue to risk increasing their fiduciary liability by condoning their use?
Grant Barger's insight:

The risk tolerance questionnaire is called out! I love it... You need more than the standard issue industry questions that get you into the style box... you need to know your 401(k) DNA! www.my401kdna.com  This is not a risk tolerance questionnaire. 

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Don't Do a 401(k)

Don't Do a 401(k) | Collaborative World of Financial Professionals | Scoop.it
Here is the latest from Bloomberg Businessweek EconoChat. It is on our post-crisis doom and gloom and what has done to the investing spirit of those younger. America's retirement policy is a failure.
Grant Barger's insight:

The Number of views at the time I read this "article" was  27,931 and we wonder why people make poor decisions on their investment options. The noise needs a filter and mass media is not a very good filter for investment decision making. 

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New Retirement Trend: Managed 401(k) Plans

New Retirement Trend: Managed 401(k) Plans | Collaborative World of Financial Professionals | Scoop.it
These 401(k) plans relieve individuals of the task of making investment decisions on their own.

Via Chuck Hammond, PPC, CMFC
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The need for the right questions to ask your "managed" 401k advisor has never been more prudent. 

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Fixing the Real Retirement Problem

Fixing the Real Retirement Problem | Collaborative World of Financial Professionals | Scoop.it
I truly believe that, despite press reports to the contrary, we don't have a Social Security problem in America: We have a retirement problem.And because I want to ensure that we produce the right
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"We need to make the retirement crisis our No. 1 national priority" 

 

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SunTrust Adds 401(k) Planning Tools to Help Prepare Participants for Retirement

SunTrust Adds 401(k) Planning Tools to Help Prepare Participants for Retirement | Collaborative World of Financial Professionals | Scoop.it
The tools were developed to help the woefully low number of people on track for a secure retirement and compel them to take action.
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Women Plan for Retirement Differently Than Men - The Consequences

Women Plan for Retirement Differently Than Men - The Consequences | Collaborative World of Financial Professionals | Scoop.it
Women and men approach retirement in different ways and the result is that they end up planning and saving for retirement in different ways. As a consequence, women are generally in poorer financia...
Grant Barger's insight:

“While the top financial priority for men is to maintain lifestyle in retirement, for women, the number one goal is to not become a financial burden to loved ones..." 

More reasons to discover @my401kDNA 

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Establishing 401k Plan Goals — 401k Advisors & Employee Benefit News

Establishing 401k Plan Goals — 401k Advisors & Employee Benefit News | Collaborative World of Financial Professionals | Scoop.it
401k plan goals build successful retirement plans. Three cornerstones- participation levels, average deferral rates, & asset allocation- for 401k plan goals.
Grant Barger's insight:

"The only aspect of the 401k plan has not shown substantive improvement over the years is the participant . . . the ultimate consumer for whom the 401k plan was developed!" 

This begs for understanding your participant 401k DNA!

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For Fiduciary Advisors, the Courts Are Watching

For fiduciary advisors, a decision by federal judges finding mismanagement of a company s 401(k) plan could have far-reaching consequences.
Grant Barger's insight:

"If you operate as an investment advisor under the 1940 Act, you have virtually the same responsibilities as an ERISA fiduciary to many of your clients. If you ignore these legal developments, you might face costly consequences"

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What is MY 401k DNA?

What is MY 401k DNA? | Collaborative World of Financial Professionals | Scoop.it
“If you don’t know who you are as an investor, the stock market is an expensive place to find out…”  Adam Smith

The quality of your lifestyle in t
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The new site is up and running...

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How a 401k retirement plan works - by Eileen Eva - Helium

With the baby boomers reaching retirement age, its eminent the government will face a lot of pressure in caring for them. This will push pensions ..., Eileen Eva (RT @Viral_HQ: Should you bet your #retirement on a #401k plan?
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overview... not comprehensive

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DOL credits itself for notable evolution in the 401(k) industry -- not without criticism | RIABiz

DOL credits itself for notable evolution in the 401(k) industry -- not without criticism | RIABiz | Collaborative World of Financial Professionals | Scoop.it
DOL credits itself for notable evolution in the 401(k) industry -- not without criticism - The sharks are circling after the Ayres letters caused a furor but one industry leaders says Labor's bureaucrats get a C-minus...
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Read it.

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What Your Employer May Not Tell You About Your 401(k) Plan

What Your Employer May Not Tell You About Your 401(k) Plan | Collaborative World of Financial Professionals | Scoop.it
To subscribe to Thinking and Thriving, email MPeQueen@hightoweradvisors.com with subscribe in the subject line.
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Good insight... anything we can do to help participants succeed...

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Fidelity Investments puts hard numbers on the disgruntlement of 401(k) plan sponsors -- and launches Z shares with ETF-like prices | RIABiz

Fidelity Investments research puts some hard numbers on the disgruntlement of 401(k) plan sponsors - Advisors are gaining some ground but the crunch of fees and service on plan purveyors gets worse and worse...
Grant Barger's insight:
Quotes for content “With the increased awareness, it’s going to be much harder to advisors who only have a few 401(k) plans to hold on to those plans,” “The messages we’ve sent to advisors is, you’ve got to make sure you’re an expert and that you’re the more knowledgeable advisor defined across a pretty broad topic and helping them manage their fiduciary duty,” He agrees that participant advice is “very labor intensive.” Though his firm still offers it to participants, less than 10% actually take advantage of it.
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403(b) Plans Are Ripe With Opportunity for Advisors

403(b) Plans Are Ripe With Opportunity for Advisors | Collaborative World of Financial Professionals | Scoop.it
The public-sector pension crisis could help boost the profile of the only other retirement savings vehicle that governments, schools and public hospitals can rely on to help employees save for retirement.
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Content

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401(k) industry flummoxed over Yale professor's 6,000 'threatening' letters to plan sponsors | RIABiz

401(k) industry flummoxed over Yale professor's 6,000 'threatening' letters to plan sponsors | RIABiz | Collaborative World of Financial Professionals | Scoop.it
401(k) industry flummoxed over Yale professor's 6,000 'threatening' letters to plan sponsors - The eclectic academic says he'll go public targeting alleged 'high-cost plans' as sponsors flood phone lines of advisors and recordkeepers and Brightscope...
Grant Barger's insight:

Anything that will shed light on plan participants becoming more engaged in their 401k is a good thing. Participants in 401k plans must become proactive in the process of their retirement or risk having very little savings with which to retire. "Welcome to Walmart..."

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New Approach to a 401(k) Tax Tactic

New Approach to a 401(k) Tax Tactic | Collaborative World of Financial Professionals | Scoop.it
Changes require advisors to adjust strategies for using net unrealized appreciation for lump-sum distributions.
Grant Barger's insight:

"The greater the appreciation on the employer's securities within a client's qualified plan, and the sooner the client may need the money, the more the strategy makes sense."

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Best Way to Increase Retirement Savings

Best Way to Increase Retirement Savings | Collaborative World of Financial Professionals | Scoop.it
In helping clients increase their retirement savings, which is more important: higher contributions or higher returns?
Grant Barger's insight:

I don't know about the "Best" but it is interesting info.

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Feel Better About Your Money by Improving Your Financial Literacy

Feel Better About Your Money by Improving Your Financial Literacy | Collaborative World of Financial Professionals | Scoop.it
If you like money but hate finance, you aren't alone. Financial Literacy is something many people struggle with and yet it's incredibly important if you want to save, buy, borrow or retire with a n...
Grant Barger's insight:

Good insight...

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Can I Lose My 401(k) plan if My Company Files Bankruptcy? - tararadam.com - free stuff and daily freebies

Can I Lose My 401(k) plan if My Company Files Bankruptcy? - tararadam.com - free stuff and daily freebies | Collaborative World of Financial Professionals | Scoop.it
In a Damaged Economy, Can I Lose My 401(k) plan if My Company Files Bankruptcy?
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5 ways to ruin your retirement

With increased longevity and a Social Security system doomed to fail, we must become more financially adept to guarantee an adequate standard of living in our golden years.
Grant Barger's insight:

"Despite how painfully obvious it is, people still continue to neglect their retirement savings. The most important rule in preparing for post-employment years is simple: The earlier you start saving, the more money you'll have in your pocket down the road."

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Employees Crave Guidance on Their 401(k)s

Advisors might find a role helping workers sock away more.
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" more than half (51%) of those polled in the March survey wanted their employer to give them access to a financial professional who’d work with them one-on-one"


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Why a $1-billion Fidelity RIA is placing LPL at the heart of its 401(k) business | RIABiz

Why a $1-billion Fidelity RIA is placing LPL at the heart of its 401(k) business | RIABiz | Collaborative World of Financial Professionals | Scoop.it
Why a $1-billion Fidelity RIA is placing LPL at the heart of its 401(k) business - Ingham Retirement dropped Sentinel Securities for LPL and is also becoming a retirement plan vendor to many LPL reps
Grant Barger's insight:

"The choice of a broker is somewhat ancillary to the custody decision but still plays a critical role in making the machinery of a 401(k) business work, according to Jennifer Ingham, vice president of sales and product development at Ingham Retirement Group. Still, she emphasizes that the use of these old-school methods is part of a very new-school effort to bring fiduciary care efficiently to 401(k) participants."




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