Fiduciary Advice & Education Blog

BeManaged Expands to Minneapolis/St. Paul Market

We are proud and excited to announce that we have expanded into the Minneapolis/St. Paul market, serving the great state of Minnesota. We look forward to serving the area with our unique, 1-on-1 401k participant advice solutions. The expansion was made final by the Vikings securing a stadium for the next 2+ decades. (joking) If…

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Video – The Difference Between Fiduciaries and Brokers

Over the past few years, I have become a big fan of whiteboard illustrations that simplify concepts which can be challenging to understand. The video below by HighTower Whiteboard Animation does a great job of simplifying the confusion over the difference between brokers and a fiduciary in a nice little analogy. Can’t view? Click here…

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The Surprising Paradox of Choice in 401k Plans

You may have heard about experimental studies that aim to capture the human experience when provided a large variety of options. Consumers today are often bombarded with a very high number of choices when they enter shopping malls, department stores, restaurants, mobile phone stores, etc. It is likely we have all experienced a certain level…

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A Mountain Climber’s Perspective on Risk

Imagine you’re a mountaineer about to scale the face of El Capitan in Yosemite National Park. As you hike to the bottom of the face your level of risk to injury is relatively low. You might trip and fall on your hike but any injury is nonetheless negligible. In this situation, your exposure to downside…

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Survey Reveals 89% of 401k Investors Want Asset Allocation Help

A survey conducted by the Boston Consulting Group found that investors find retirement planning is confusing and 89% want help creating their ‘investment recipe’ (aka asset allocation). Here are the other findings of the 2,600 investors surveyed:

84% want help calculating and/or creating retirement income
79% would like an annual review “to set and measure their progress”
48% feel they are “in consult of their retirement plan investments”

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Coming Soon to 401k Statements: Participants’ Account Balance as Monthly Income?

Fred Reish (he’s getting a lot of attention from us this month) and Bruce Ashton of Drinker Biddle posted an article that discussed having 401k statements illustrate a participant’s account balance in the form of a monthly income. The article is illustrated below and we find this to be an excellent idea, but the following points would need to be considered in order create a consistent message across providers:

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fi360 Webinar Recording: The Combined Effects of the DOL’s Proposed Advice Regulation and 408(b)(2)

CEFEX and fi360 sponsored attorney Fred Reish to provide a thorough overview of the proposed advice and 408(b)(2) regulations. If you are a plan fiduciary who has hired a person or firm to provide your employees advice on their 401k, or an advisor/broker that works with 401k participants, this is essentially a must-listen event. The following were a number of interesting points which affect plan sponsors and advisors:

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