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BY NAPA Net Staff 10/29/2012
With more DC assets going into stable value funds, the question is whether anyone can really determine what the fees are and whether these types of investments can comply with the new DOL fee disclosure rules. For all but the larger plans, it can be hard to determine what the fees are; and without...
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BY NAPA Net Staff 10/26/2012
3Ethos’ Don Trone, founder of fi360, and Warren Cormier of Boston Research Group, in cooperation with Financial Advisor magazine, have completed the first edition of an annual study intended to benchmark best practices and ultimately measure the rate of adoption and the success of advisors who have...
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BY Sheri Fitts 10/26/2012
It’s evident that financial and retirement plan advisors are wary of the social media platform. Some of the leading reasons include the compliance issues involved, the time it takes to manage social media, and simply getting started. Yet, the way that we communicate, both personally and...
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BY NAPA Net Staff 10/26/2012
Think that 401(k) lawsuits are over? Think again. Emboldened by recent successes and armed with more information through the fee disclosure regulations and benchmarking data, plaintiff attorneys’ next target could be advisors, warns Fred Reish of Drinker Biddle. Reish views the relevant law as more...
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BY NAPA Net Staff 10/26/2012
The 2012 DCIO Provider List (see below) includes the 41 firms actively selling to plan advisors. To be on the list, providers must have dedicated sales people calling on advisors in the DC market and must available on a majority of the platforms of national record keepers. Twelve of these 41 firms...
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BY Fred Barstein 10/25/2012
Almost all advisors who have worked in the DC market for even a few years acknowledge that they are functional fiduciaries, even if their broker dealer or insurance policy does not allow them to be so named. It is nearly impossible for advisors to effectively help employers manage their DC plans...
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BY NAPA Net Staff 10/25/2012
Pop quiz time: What’s the percentage of U.S. workers in the moderate income range — that is, those who make $30,000 to $50,000 a year — without access to an employer-sponsored plan who are saving for retirement through an IRA? Is the answer:30%20%10%5%The answer is: Among moderate income workers...
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BY NAPA Net Staff 10/25/2012
According to a study by The American College, 40% of small business owners have no retirement savings or pension plan in place — even though many are over 50. Furthermore, the study found that three-fourths of those owners have no written plan for funding their retirement. Equally surprising, many...
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BY NAPA Net Staff 10/25/2012
Twenty-six years ago today, President Reagan signed a sweeping bipartisan tax reform that chopped the top individual income tax rate from 50% to 28%; curbed special deductions, exclusions and breaks; gave most families a tax cut; left the richest 1% paying a slightly higher share of taxes; and didn...
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BY Nevin E. Adams, JD 10/24/2012
I was asked recently about the so-called “4% rule.” That’s the rule of thumb that many financial advisors rely on as a formula for how much money can be withdrawn from retirement savings every year (generally adjusted for inflation) without running out of money. (Certified financial planner William...
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