I spend an hour discussing all sorts of really fascinating topics with Pete Dominick; its satellite, so there is the occasionally NSFW word here and there. Fiduciary standards, retirement accounts, and why things are looking better Why a modern 2 party system requires 2 scientific literate rational parties (we don’t have that)
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The new rules are here, and if you believe the devil is in the details, well, here are the details: • Fact Sheet: Middle Class Economics: Strengthening Retirement Security by Cracking Down on Conflicts of Interest in Retirement Savings • FAQs: Conflicts of Interest Rulemaking • Table: Changes from DEPARTMENT OF LABOR’S 2015 Conflict of Ineterest…
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Here’s a question: Is the broker who advises you on your retirement account on your side? The answer is at the heart of the debate over the proposedDepartment of Labor fiduciary rules. Applying a fiduciary standard means the broker must put his customer’s interests ahead of his own. This is different from now, when nothing…
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The Department of Labor will soon be implementing a fiduciary standard for advisors conduct who mange money for retirement accounts such as 401k. There have been a number of people claiming that the fiduciary standard will be a disaster for investors, but I cannot find any solid anti-fiduciary arguments. So let me ask: What are the strong, logical arguments…
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Late last year, our firm announced a new Educator / 403(b) division. We had been interested in why the 401k side of the business was such a mess, but found that the 403b side — retirement plans for non-profit organizations — was an even worse. Tony Isola, a former trader who tossed Wall Street aside…
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Dan McConlogue is the Director of Corporate Retirement Plans at Ritholtz Wealth Management. Dan is the principal and founder of Eleven O’Clock Associates, a retirement plan consulting firm based in Florida. Dan joined RWM at the start of 2016, bringing over $70 million in assets, plus thousands of 401(k) participant clients whose assets are under advisement. Expect to see more…
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We made an exciting announcement this week regarding the latest addition at RWM. I wanted to expand on what Josh wrote, and what we are hoping to accomplish with this new offering. When it comes to saving for retirement, teachers at public and private schools (K-12) and colleges find themselves in a very unique situation. What…Read More
This week on our Masters in Business interview, we speak with Jeff Maggioncalda, co-founder and former CEO of Financial Engines. Co-founded with Nobel laureate William Sharpe, Financial Engines manages over $115 billion in corporate 401k plans using the capital asset pricing model insights Sharpe developed. Financial Engines was a free website Sharpe had developed, and at the urging of…Read More
In the Republican presidential debate Wednesday night, the issue of income inequality came up with surprising frequency. Why that happened is worthy of its own column; for now, let’s explore the issue with some recent data. Specifically, I want to consider inequality in the funding of our collective retirements. As a nation, we do a…Read More
Firms are boosting automatic retirement-savings rate, but there is some pushback from employees: Click for ginormous graphic Source: WSJ
We propose a core satellite portfolio solution to 401k accounts that have active constant new contributions.
Over the years, I have written and spoken positively about the fiduciary standard (see e.g., this or this or this). Simply stated, a fiduciary is obligated to put the client’s interest first. Period. It is higher duty of care owed to clients than the traditional broker “suitability standard.” I’ll say more another time about why the new Department of Labor…Read More
At the current market environment, it is pertinent to explore how to adding a risk management layer to a strategic buy and hold portfolio.
Over the years, I have been critical of the way 401(k)s are created, administered and managed. They can be expensive and filled with underperforming actively managed funds, some of which charge way too much. Some retirement plans offer too little diversification, especially in international and emerging-market sectors. I have also noted that you, the individual investor,…Read More
The latest newsletter collection that incorporates newsletters since last update in March.
This blog post is a call to action to all entrepreneurs interested in financial services and fintech in general, and the asset management space in particular. Let me, by way of a prolegomenon, paint the market picture.
The 401k market in the US is wor…
Michael Abbott’s 401(k) retirement plan is more transparent than most — which isn’t a high bar to clear. Abbott is a partner at Gardere Wynne Sewell LLP, a Houston law firm that charges employees a flat fee of about $100 annually to cover the…
We modified several brokerage specific commission free plans to make them less bloated and easier to maintain.
High yield bonds are not necessary in asset allocation. They can be substituted with highly liquid and pure stock and Treasury indexes.
I think we are in the midst of a profound change in the way real money institutions invest. It is becoming increasingly clear that many real money institutions (pensions, endowments, etc) don’t offer a heck of a lot of alpha or value add to t…
Diversified Asset Allocation Portfolios For Your Plans
| Vanguard ETF: | 10%* |  |
| Diversified Core: | 11%* | |
| Six Core Asset ETFs: | 10%* | |
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