Fiduciary Links: The Importance of Knowing Yourself and Your Clients
Posted by fi360 Team on May 05, 2014
>>>>>This Investment News article explores the importance of knowing both yourself and your clients. Does a risk appetite assessment really tell you all you need to know? This article says it doesn't, and taking additional steps to learn your clients and then educate them, if necessary, will be worth it in the long run. The writer also stresses the importance of keeping clients informed of the decisions you are making on their behalf.
Another interesting article this week was about a survey done by AARP. The survey indicated that a whopping 89% of 401(k) sponsors preferred a fiduciary duty for their plan advisors. The consensus seems to be that there is a large gap between what these 401(k) sponsors want and what they are actually getting when it comes to fiduciary duty.
Finally, a Target Date Fund handbook has been released. Written by three industry authorities, John Lohr, AIFA® Mark Mensack, and Ron Surz, the Fiduciary Handbook for Understanding and Selecting Target Date Funds is a concise reference for understanding TDF fiduciary responsibilities. Some of the topics included in the book are: history, duty of care, demographics, current practices and a look at the future.
Now on to the rest of the week’s best links:
News and columns from the leading trade, consumer, and mainstream media:
- How to hold onto assets after an inheritance [InvestmentNews]
- AIF designee Jason Gordo demos new planning tool for advisers [InvestmentNews]
- Providing specialized advice to single parents [InvestmentNews]
- LinkedIn endorsements still a ‘legal quagmire,’ despite SEC guidance [InvestmentNews]
- Employers want fiduciary duty for 401(k) plans, AARP survey finds [InvestmentNews]
- Guardian survey finds that small business 401(k) s are ripe opportunity for advisors [ThinkAdvisor]
- Target Date Funds online book released [Target Date Solutions]
From the organizations/associations/government/academia:
- Small business retirement plan contributions up 18% since 2008 [NAPANet]
- Benefit brokers to look to 401(k) market [NAPANet]
- FINRA rule change to limit self-trading approved [FINRA]
From the blogs:
- 10 kinds of stories to tell with data [Harvard Business Review]
- Mechanics of 401(k) plans – saving/contributing [Getting Your Financial Ducks in a Row]
- Trending Topics for ERISA plan sponsors [FiduciaryNews]
- Are you confusing strategy with planning? [Harvard Business Review]
Articles your clients are reading, (or should be):
- Is your mutual fund bloated and should you care? [The Chicago Financial Planner]
- Helping Gen Y declare their financial independence [US News]
- Talk yourself out of these risky investments [US News]
- Is the 4 percent rule still relevant for retirees? [US News]
