Re-balance Cycle Reminder All MyPlanIQ’s newsletters are archived here.

For regular SAA and TAA portfolios, the next re-balance will be on Monday, January 7, 2019. You can also find the re-balance calendar for 2019 on ‘Dashboard‘ page once you log in.

As a reminder to expert users: advanced portfolios are still re-balanced based on their original re-balance schedules and they are not the same as those used in Strategic and Tactical Asset Allocation (SAA and TAA) portfolios of a plan.

Please note that we now list the next re-balance date on every portfolio page.

Happy Holidays

In the upcoming holiday period, our newsletter publication will take a break and return in the week of January 7th, 2019. 

We thank everyone for your trust, support and continuous help to our service. We wish you happy holidays and a very successful 2019!

Robinhood’s ‘Revolution’ Or Gimmick

Online brokerage Robinhood made a headline last week by announcing that it now offers checking and savings accounts that pay 3% annual interest to its customers. However, amid criticism from regulators and peers, it quickly backtracked and now states that it’s planning to ‘rebrand’ & relaunch the program. 

Unfortunately (or fortunately for Robinhood), it was reported that this news alone has attracted over 600k new user signups.

At issue is that regulators are pointing out that this is not a conventional checking and savings offering from a real bank that has FDIC (Federal Deposit Insurance Corporation) insurance of up to $250,000 cash amount. This is simply a brokerage account that has insurance from SIPC (Securities Investor Protection Corporation). SIPC is an industry formed consortium while FDIC is from the federal government. The cash in a brokerage account, by definition, can be used for some purpose (such as lent out) by the broker. This means it’s less safer than a checking/savings account offered by a bank. 

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