How do advisors want to spend their time? Survey says… Advisors love their clients and want to focus on serving new and existing clients! A recent survey from fintech company Broadridge Financial Solutions revealed that most advisors really want to focus on serving clients and business development. 62% want to spend more time on client-facing…
Employers are Essential for Improving Retirement Savings The U.S. Census Bureau recently released it’s The Wealth of Households: 2019 report. Digging into the stats underlying the report makes for a fascinating read for a data geek like me but I wanted to focus on what the report revealed about retirement savings. Only 58.8% of households…
3 Assumptions ERISA Makes About Plan Sponsors Many plan sponsors do not understand the full weight of their fiduciary duty towards the employees participating in the company retirement plan. The Employee Retirement Income Security Act of 1974 (ERISA) lays out standards of conduct for plan fiduciaries. Built into the standards are several assumptions the Department…
What if my retirement plan doesn’t offer faith-based funds? The opportunities for Christians to align their investments with their faith values have never been better! Beacon Wealth Consultants has helped Believers with biblically responsible investing for over 25 years and many individuals and families have discovered the joy and freedom that comes with planning and…
Stop Checking Your 401(k) Balance! The ongoing volatility in the stock market and relentless onslaught of negative economic news is raising investor anxiety. If you are feeling worried about your 401(k) performance, let me offer you some advice: stop checking your account balance! Most 401(k) providers allow participants to easily check their account online. But…
Using GIPS® Standards to Compare Portfolio Managers Many advisors understand the benefits of outsourcing portfolio management – benefits such as tapping into the expertise of professional portfolio managers and increasing the time spent meeting with clients and prospects. One dilemma advisors face in choosing a portfolio manager is how to evaluate their past performance. Acting…
Can a Pastor Have a 401(k) and a 403(b)? Bi-vocational pastors make up a sizeable minority of pastors in America – 26% according to a 2019 Barna survey. This means that 26% of pastors have another paid or unpaid role in addition to pastoring a church. For those employed by a church and another employer…
Are you personally liable for your retirement plan? Does your company retirement plan have a named fiduciary investment manager in the plan documents? If it doesn’t or if you don’t know then chances are that it’s you. Under Employee Retirement Income Security Act of 1974, the plan sponsor is the principal administrator and investment manager…
3(16), 3(21), or 3(38) Fiduciary – What’s the Difference? When it comes to your company retirement plan, there are several different fiduciaries with which your company can partner. But knowing the differences can be confusing at best and at worse can mean thinking you have reduced your liability when you really haven’t. Each one is…
4 Reasons Your Business Needs a Retirement Plan For most Americans, their company 401(k) is their primary means of saving for retirement. Despite this fact, less than half of all small businesses offer a retirement plan as an employee benefit[i]. There are two sides to this problem – first, employers do not understand all the…