State Farm and Edward Jones React to the Fiduciary Rule
By Mack Bekeza With April 10th, 2017 quickly approaching, a large number of investment firms and insurance agencies are scrambling to comply with the DOL fiduciary regulation. However, some firms believe they have found a solution to the upcoming rule. Knowing that their representatives cannot put their clients’ interest first, State Farm and Edward Jones […]
HSAs and what you need to know about them!
By Mack Bekeza Since 2003, Health Savings Accounts (“HSAs”) have been an excellent tool for families to help cover current healthcare costs, along with future healthcare costs. HSAs are also known to be an excellent tax-planning tool since participants are allowed to contribute on a pre-tax basis and the funds grow tax deferred. Additionally, participants […]
The DOL Rule and Why Brokers and Insurance Agents Should be Concerned
By Mack Bekeza Are you currently a Registered Representative or an Insurance agent? If so, you will want to keep reading! As you may know, the Department of Labor will have new regulations in effect on April 10, 2017, which will change how Brokers and Insurance agents conduct business with retirement investors. For starters, when […]
Fund Families sued by their own employees over their retirement plans??
By Mack Bekeza Over the past two years, a number of investment firms have been sued by their employees over their 401(k) plans. That’s right! Investment firms have been sued over their own in-house retirement plans! Why? In most cases, these firms would only provide proprietary funds to their employees at a full or slightly […]
The Importance of Saving
By Mack Bekeza Saving, sounds hard, right? Well actually not as much as you think, but it does require will power and a positive attitude. In most cases, people begin to start saving but end up quitting because of a few things: They save too much and end up having to spend most of it […]
White House Memo: A Moment of Opportunity for Fiduciaries to Retirement Plans
If you think we’re letting go of the “fumbling children” reference made by FSI chairman Adam Antoniades, you have another thing coming. He reminds me of the proud “Minnesota Fats” character in the classic film The Hustler— he doesn’t want to recognize the truth and talent of the situation he’s faced with by “Fast Eddie” […]
Declaration of Independence
“Can you be more specific?” Embarrassing, but true: the retirement industry is asking that of the US government. The definition of a Fiduciary needs to be more specific because of cases where Plan Sponsors are legally charged unreasonable fees for a long time, but the Department of Labor’s interpretation is undesirable to Wall Street. Of […]