Why is the need for financial advisors to manage American workers' 401(k) accounts greater than ever? David Goldman explains in this comprehensive look at outside asset management from Alex Ortolani in PLANADVISER: "It’s clear to our partners and to a lot of participants that these [retirement] assets, although they are a significant portion of retirement savers’ nest eggs, are not getting enough attention—and the advisory firms and the participants are both seeing the same thing.” The ability to advise on these accounts is proving valuable for both new and existing clients. We're thankful for our partners Nick Lamb, CFA of SageView Advisory Group and Karen R. McColl, CFA of Commonwealth Financial Network for sharing their positive experience with Pontera. As Nick describes: “Now, we can view and manage our clients’ held away accounts in real time. In addition, the client gets the benefit of having investible assets professionally managed.” Discover how advisors are taking an even more strategic approach to the totality of clients' wealth: https://lnkd.in/eEkdQXZj
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What is the difference between a #Pension and a #401k as a source of #RetirementIncome? Should you rollover your 401(k) into an #Annuity instead? Read our blog to learn more: https://loom.ly/XYTSzyk
What is a Pension? Do You Have One? - Messina's Wealth Managment
https://safemoneynick.com
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If you’re thinking about sponsoring a 401(k) plan at your company, you should know about ERISA bonds (a.k.a. fidelity bonds). ERISA bonds are required for almost all 401(k) plans. And while they are an added expense, the good news is that they are easy to get and manage, and they protect you from incurring possible larger expenses down the road. Kelly Wilde #401k #retirementplans #smb https://hubs.ly/Q02lhdGw0
Understanding ERISA Bonds for 401(k) Plans - 401GO
https://401go.com
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My Uncle Vinny used to say, "You may think its easy, but it ain't easy". Plan sponsors, make sure you work with a provider who is up to date on all of the modifications brought about by the most sweeping qualified plan legislation in decades, Secure Act 2.0. Associated Bank's retirement plan compliance team is up to date on all of the necessary steps that plan sponsors must take to remain compliant. #hr #humanresources #cfo #ceo #finance #retirement
IRS Updates Listings of Required DC Plan Modifications
napa-net.org
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Helping compassionate fiduciaries determine what it takes to offer a 401k that gets employees on track for retirement.
Could most of your employees afford a $1,000 financial emergency? Studies show most Americans can't. What if the retirement plan could solve that problem? When managed well, the retirement plan has always had the power to improve employee financial security. Now that power has been amplified with the introduction of the PLESA provision of Secure 2.0. You don't want to fall behind the curve on this opportunity to improve your employees wellbeing.
The key to successful saving lies within a simple concept: #PayYourselfFirst. The 401(k) is built upon payroll deduction, enabling participants to do just that. With Secure 2.0’s PLESA provision, fiduciary committees now have the option to establish an emergency savings sidecar directly linked to employee retirement accounts. Non-highly compensated employees can save up to $2,500 using after-tax dollars. Having an emergency savings account funded by payroll deductions can go a long way in reducing financial stress for the employee, and therefore the employer. PCI believes emergency savings accounts within 401(k) plans are one of the most significant developments in recent years to help close the savings gap and improve the financial security of the American workforce. Learn more in our latest blog. https://lnkd.in/gqA5cm2r #financialsecurity #retirementreadiness #retirement #401k #emergencysavings #saving #secureact2
Emergency Savings Accounts: The Most Important 401(k) Development Since Auto Features?
https://pension-consultants.com
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The key to successful saving lies within a simple concept: #PayYourselfFirst. The 401(k) is built upon payroll deduction, enabling participants to do just that. With Secure 2.0’s PLESA provision, fiduciary committees now have the option to establish an emergency savings sidecar directly linked to employee retirement accounts. Non-highly compensated employees can save up to $2,500 using after-tax dollars. Having an emergency savings account funded by payroll deductions can go a long way in reducing financial stress for the employee, and therefore the employer. PCI believes emergency savings accounts within 401(k) plans are one of the most significant developments in recent years to help close the savings gap and improve the financial security of the American workforce. Learn more in our latest blog. https://lnkd.in/gqA5cm2r #financialsecurity #retirementreadiness #retirement #401k #emergencysavings #saving #secureact2
Emergency Savings Accounts: The Most Important 401(k) Development Since Auto Features?
https://pension-consultants.com
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Do you know how much you, and your employees, are paying for your company 401(k) plan? Hidden fees, outlined in the attached article from PlanAdviser, can take away from performance and long-term savings, as well as leave you in jeopardy of a lawsuit as the plan sponsor. 1st Source Bank Retirement Plan Services: Doesn't engage in revenue sharing with our mutual funds Provides fully-transparent sponsor and participant fee disclosures annually Provides a year-end plan review that again shows all of your costs Helps YOU stay out of a legal jackpot should a lawsuit come calling And we do all of this while almost always costing less than the national average and providing exceptional service around the clock. Want to find out how much your 401(k) plan is REALLY costing you? Reach out to discuss how you can get a complimentary plan analysis from our department.
Why Small 401(k) Plans Should Remain Wary of Hidden Fees | PLANADVISER
planadviser.com
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" The US financial advice industry is crooked, and no amount of government regulations can fix it! " Another attempt by our government to fix an industry that is unfixable. The new regulations to tighten financial advice industry throws around the word "Fiduciary" a lot. In simple English, it means that your financial advisor is supposed to put your interests ahead of his and guess what, it never happens, they all look after their own interests/ greedy about their commissions. For example, annuities sold by insurance companies are universally known as the worst investment products but yet you can't find one investment adviser who tells you that and there is a good reason for it, they get paid sky-high commissions by insurance companies (around 7%) for selling them! Now, investing, managing your 401K and IRAs is no brain surgery, all you have to do is learn investing basics by reading books written by the likes of John Bogle, Peter Lynch and a bunch of other financial luminaries. It is an ideal diy project if are willing to spend time on it. I, a simple pill maker, learnt it by being an avid reader of financial magazines, books and listening to investment experts like Warren Buffett, John Bogle and Bob Brinker. When I was knee high to a grasshopper, my dad, a senior police officer asked me to make up my own raggedy looking bed I had woken up from. I told him in an arrogant fashion I would ask one of the two orderlies in our home to do that. Looking at me, he asked, "Do you know who always does the best job for you?". I answered arrogantly either of our two orderlies could, asked him if he had ever heard the word delegation! He immediately dragged me in front of a full-length mirror and said, "No, it is who you see in the mirror idiot, it is YOU"! After that, I sheepishly walked to my bed and made it, and it looked perfect. Of course, not everything is diy; for example, you can't do surgery on your own body, you need a skilled surgeon to do it but managing personal finance is perfectly doable if you put your mind to it. The pension system we had in US prior to 80s did not require one to be financially savvy, an employer would put a bunch of money along with yours in a box, invest in conservative investments and when you retired, he would send monthly checks until you died. Not so with active retirement plans like 401K and IRAs, they are all self-directed. It forces one to learn basic investing so one can grow savings in an effective manner. With your personal financial matters, learn to trust only person with it and that is the one you see when you stand in front of a mirror!
Advice about 401(k) rollovers is poised for a big change. Here's why
cnbc.com
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Opportunity for Advisors to help educate participants on Target Dates and Managed Accounts https://lnkd.in/g_xq8g67 #401kadvisors #retirementadvisors #napa401k #retirementplanners #401kplanners
401(k) participants don’t understand target-date funds, managed accounts — Cerulli report
pionline.com
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✴️ Do you know how much you have in these accounts? ✳️ Do you know how it's invested? If you don't, you may want to review what you have. 🥁 ▶️ Checking, Savings, High-Yield Savings Accounts (HYSA) ▶️ Current Employer 401(k)s, 403(b)s, 457 plans ▶️ Prior Employer 401(k)s, 403(b)s, 457 plans ▶️ Thrift Savings Plan Accounts (TSP) ▶️ SEP IRAs, Solo 401(k)s, SIMPLE IRAs ▶️ Employer Stock Accounts ⏩ Employee Stock Purchase Plans (ESPPs) ⏩ Restricted Stock Units (RSUs) ⏩ Voluntary Equity Investment Plans (VEIPs) ⏩ Stock Appreciation Rights (SARs) ⏩ Performance Share Units (PSUs) ⏩ Private Shares ▶️ Deferred Compensation Plans ▶️ Cash Balance Defined Benefit Plans ▶️ Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs) ▶️ 529 accounts, Coverdells ▶️ Traditional IRAs, Roth IRAs ▶️ Spousal IRAs ▶️ Inherited IRAs ▶️ Brokerage Accounts, Non-retirement accounts ▶️ Trust Accounts ▶️ Cash Value Life Insurance (Whole, Universal) ▶️ Annuities (Fixed, Fixed-Indexed, Variable) ▶️ Pensions _ __ ___ ____ _____ ____ ___ __ _ 📸 Put some new photos of our office on my website recently 💻 Check them out here: https://bit.ly/3X6sVpK
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Founder of Ledesma Capital | Personal CFO | Helping Business Owners, First & Second Gen Americans and Executives Protect, Grow, & Pass On Their Wealth
January has been a busy! We’ve welcomed a total of 7 NEW CLIENTS to The Ledesma Capital Partners practice this month. Here are some HIGHLIGHTS of client successes that unfolded at the beginning of the year: * Assisted a couple near retirement in crafting an income plan, including guiding them through Social Security claiming. Additionally, we established an Estate Plan for their heirs. * Collaborated with a business owner to set up retirement accounts that will not only reduce their current income tax but also involved a comprehensive long-term tax planning analysis. We also assessed personal risk management with Term and Disability insurance. * Developed a financial plan for a First Generation Travel Nurse, covering various financial planning aspects such as Risk Management, Retirement Planning, and Cashflow Analysis. Within the plan, we mapped out a strategy for her to acquire her first rental property by the end of 2024. * Built a plan for a business owner to execute a Backdoor ROTH IRA. Alongside this, we spoke about the opportunity to pay their children so they can open a ROTH. This strategy allows us for some tax deductions since the kids will be on payroll. * Facilitated connections between clients and our preferred Estate and Tax Attorney to proactively plan for the current year and the years ahead. These are just a few of the many planning discussions we’ve had with both new and existing clients. Effective financial planning goes beyond discussing Rate of Return; it involves understanding clients’ desires and implementing strategies for both short and long-term aspects of their financial journey.
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