Our guest this week was Mark Yusko, founder, chief investment officer and managing director of Morgan Creek Capital Management. With deep experience in both digital assets and traditional finance, Mark took us on a rollercoaster as we dissected the recent turmoil affecting the ‘crypto-verse'. Topics included: A post-mortem of the FTX debacle – an evolving situation with many missing pieces The sequence of events that led to the debacle Why Mark passed on the opportunity to invest… three times Useful idiots? Conspiracy theories versus actual conspiracies You can't ban a decentralized system, but you ‘assassinate its character' The due diligence failure of high-profile capital allocators Fiduciary responsibility gone awry Parallels with other frauds and characters An analogy between digital assets and the Eurodollar system Bitcoin as the base layer of a future monetary system Displacing trust with truth Innovation – why timing is key Exciting ventures and projects for the coming years With every investment we get richer or wiser… never both And much more This is “ReSolve's Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc. *ReSolve Global Inc. refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global Inc. is a registered person with the Cayman Islands Monetary Authority.
With the end of the year approaching, the focus of HNW and Family Office Space has turned to intergenerational planning. One of the ideas on the minds of many families is providing for future generations. It would be natural to make gifts to future generations to avoid the estate tax. However, Congress figured that out and implemented the Generation Skipping Transfer Tax back in 1976. It's not easy to understand, implement or track especially across generations. MICHAEL GROSSMAN is here to help us understand the GST, Michael is Tax Manager/Fiduciary Specialist from the firm of Adelman Katz & Mond LLP (www.akmcpa.com) He has Extensive experience working as a tax manager, fiduciary accountant and trust and estate administrator for the past 27 years and manages all aspects of ‘High Net Worth' individuals and family tax issues. The Background on the US Tax Regime: What are ‘Lifetime Exemptions' Income Tax vs Capital Gains Tax vs the Estate/Gift Tax vs GST What is a ‘Taxable Gift' What is a (GST) – Generation Skipping Transfer Tax? Gift and GST – two separate lifetime exemptions · 2022 Estate/Gift Lifetime Exemption - $12,060,000 per person ($24,120,000/couple)· 2022 GST Lifetime exemption - $12,060,000 per person ($24,120,000/couple) GST – gifts to an individual vs. gifts to a trust· What is the difference between a ‘GST Trust' and a ‘Non-GST Trust'· What happens when gifts are allocated to GST – or not Annual Exclusions – One size does not fit all· Crummey Power· Annual exclusion for ‘Gift Tax'· Annual exclusion for ‘GST Tax' Mistakes: Not including or discussing gift to a Trust in overall estate plan· Conversations with family/trust and estate attorney Direct vs. Indirect (GST) Gifts· What is the difference· Reporting difference on Gift Tax Return Allocation of GST - Elections· Automatic Allocation· Opt in vs. Opt out Annual Exclusions· Follow up and connect to item #6 above Best Practices: Be clear in understanding how the trust works· Does the gift made align with overall estate plan· Does it accomplish your goals Make sure you discuss current and past gifts with attorney drafting trust· Review prior gift tax returns· Make sure preparer of gift tax return knows what they are doing WAYS TO FIND MICHAEL GROSSMAN Adelman Katz & Mond firstname.lastname@example.org **This podcast is not investment, legal, or tax advice, nor does it reflect the opinions of Next Capital Management. Any opinions represented in the show are Frazer's individually and not an endorsement of the guest. This podcast is for educational and entertainment purposes. It is neither investment, legal, nor tax advice and does not represent the opinions of any employers of the host or guest. https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/
There are four fiduciary loopholes people can use to call themselves Fiduciaries when they aren't. How do I know if the professional I'm working with is a true fiduciary? How do I find one if they are not?See more at RetireMentorship.com/89. Join our FREE membership community to receive exclusive content at RetireMembership.com. The content includes my book, 3D Retirement Income: Creating a Retirement Income that Outpaces Inflation, Outlives You, and Outperforms Others . (Available on Amazon.)Find my financial planning firm at LaxFP.com.Email us at Questions@RetireMentorship.com or call us at 1-855-6MENTOR.
A Fiduciary's Guide to Data Analytics with Agility Innovation Partners. This episode is a follow-up to my video "The Consolidated Appropriations Act 101 - Comply or Die?" The Consolidated Appropriations Act, otherwise known as the CAA, established protections for consumers related to surprise billing and transparency in health care. Upcoming fines can and will be heavy, amounting to $100/day PER EMPLOYEE, which is substantially greater than the fines hospitals receiving for being non-compliant, which was only $300 total day. In this Episode - Part 2 - we focus on an employer's fiduciary responsibility now that they have access to claims and pricing data due to the CAA regulation, and the power of using an innovative Data Analytics platform to make sense of it. Agility Innovation Partners helps offer a data analytics platform with "at-scale pricing" to small-to-mid-market brokers who may not have the leverage on their own. They also offer consulting after the decision to purchase a data analytics platform called Innovu, so that consultants can make sure they maximize the ROI on their investment. Innovu also offers a CAA fiduciary tool stack with benchmarking against 4 million lives for plan design, claims cost, plan design etc, so that an employer can determine if they are paying reasonable cost for care and are compliant. If not, now they know and can take action! Here is a recent article covering the CAA in greater detail, and outlining the employer obligation to be compliant. Hat's off to Dave Chase, co-founder and CEO of Health Rosetta for bringing it to my attention! https://docket.acc.com/erisa-covered-companies-must-disclose-health-plan-costs --- Support this podcast: https://anchor.fm/spencer-harlan-smith/support
Cathy interviews Sara Ecklein, a private, professional fiduciary and the founder of Trust and Honor, a fiduciary agency. Trust and Honor serves as a partner and compassionate advocate in managing and protecting the personal affairs, property, and assets of clients in the San Francisco Bay area and beyond.[03:45] Sara Ecklein describes the role of a private, professional fiduciary.[09:28] Sara shares why and when someone may seek her services as a private fiduciary and what her intake process looks like.[25:26] How working with a private, professional fiduciary can benefit clients when it comes their healthcare.[39:20] Sara Ecklein and Cathy discuss special needs trusts and why it can be helpful to have a trustee who specializes in this area.For more information and resources related to this episode, please visit the show notes.
The importance of choosing a financial adviser wisely can not be emphasized enough, and Clark has even more proof. Learn what to avoid, and when & how to hire a real financial planner. Also, the ongoing labor shortage is leading to adaptive innovations by American companies. Clark discusses manufacturing and automation as businesses adjust to labor force conditions - and what these changes will look like for consumers. Financial Advisers: Segment 1 Ask Clark: Segment 2 Labor Shortage Adaptations: Segment 3 Ask Clark: Segment 4 Mentioned on the show: Choice of Financial Adviser Can Dramatically Affect Retirement Savings What Is a Fiduciary Financial Advisor and Do I Need One? Will the Real Financial Planners Please Stand Up? Clark.com - STREAMING TV Meet the Army of Robots Coming to Fill In for Scarce Workers - The Wall Street Journal. How to Deal With Medical Debt Turo: 5 Things To Know About the Cheap Car Rental Service Clark.com resources Episode transcripts Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices
Bruce and Jeff are joined by Chuck Failla of Sovereign Financial, who shares his own background as a breakaway RIA, his current success, and tips and tools to utilize when choosing a similar path. Guest Bio:Chuck Failla understands the importance of working as a Fiduciary and uses those standards to oversee the financial planning and investment management work done at Sovereign Financial.As a Board Certified Financial Planning practitioner, Chuck understands that shepherding a client's financial and retirement plan requires more than simply “picking investments.” Instead, he applies his experience as a CFP professional to coordinate all aspects of a client's financial picture: goals, investments, taxes, liabilities, and estate / legacy planning. By following this disciplined approach, he is able to ensure all aspects of a client's financial and estate planning needs are properly coordinated and continuously monitored.In addition to working with clients, Chuck is a regular speaker and commentator on financial topics and has been featured in Forbes, The New York Daily News, Reuters, CBS Market Watch and numerous other media outlets. Chuck is also committed to the financial planning community and advancing the cause of financial literacy. To that end, he currently serves on the Board of Directors for the Financial Planning Association of Connecticut as the Chairperson of their Pro Bono / Public Outreach Committee. Chuck is also active in the National Financial Planning Association, American Mensa and other nonprofits in the Connecticut and New York City Metro area.Chuck received his degree in finance from The University of Connecticut and completed his coursework for the CFP certification with The American College. He resides in North Stamford, Connecticut, with his wife, two children and their Black Lab and cats. In his spare time, Chuck enjoys all things outdoors -- on the weekends you will find him with his family hiking, camping, skiing, boating or just enjoying the trees while grilling in the backyard.
"Fiduciary" is the new buzzword. But what is a Fiduciary? And why does it matter? Understanding this is critically important to your success.See more at https://RetireMentorship.com/88. Join our FREE membership community to receive exclusive content at RetireMembership.com. The content includes my book, 3D Retirement Income: Creating a Retirement Income that Outpaces Inflation, Outlives You, and Outperforms Others . (Available on Amazon.)Find my financial planning firm at LaxFP.com.Email us at Questions@RetireMentorship.com or call us at 1-855-6MENTOR.
Welcome to episode #42 of the Fiduciary U™ Podcast. Like last episode, I broke this one into 2 parts and I'm releasing both at the same time so make sure to check out both. You won't want to miss either one. My guest on this episode is Michael Doshier, who is a Senior Defined Contribution Advisor Strategist for T. Rowe Price where he is primarily responsible for driving the increased visibility of T Rowe Price's investment brand, furthering the firm's position as a thought leader in the retirement arena. He's been in the retirement industry for 30 years and previously held executive positions at Fidelity, MassMutual and Franklin Templeton Investments. This is Michael's second time on the podcast. During his first appearance, he shared his insights from T. Rowe Price's inaugural 2020 Defined Contribution Consultant Study. On today's episode, he'll be sharing his insights from T. Rowe Price's 2021 Defined Contribution Consultant Study which included survey responses from 32 consulting firms that work with over 33,000 plan sponsor clients and more than $7 trillion in assets under advisement. It also incorporated over 450 plan sponsors survey directly by T. Rowe Price and nearly 6,500 plan participants from T. Rowe Price recordkeeping clients. We discuss topics like price competition and margin compression faced by consultants and advisors, how the competitive lines are blurring between the two, how to improve firm profitability, which services and capabilities provide differentiation opportunities as well as plan sponsor and participant attitudes towards things like retirement decumulation, financial wellness, student debt, and HSAs, among other things. And make sure to listen to the end of Part 2 where Michael shares his best piece of practice management advice for consultants and advisors. And so, with that introduction, I hope you enjoy part 1 of this episode with Michael Dozier from T. Rowe Price.
In Part 2 of episode #42 of the Fiduciary U™ Podcast, Michael Doshier of T. Rowe Price and I continue our discussion on large market consulting and product trends.
For many retirees, donating and becoming involved with charities and those in need becomes an important part of their retirement. For some, this is where they find purpose beyond their working years. While there is likely an endless list of charities that would be worthy of highlighting, today we offer an overview of 5 charities that have been on my radar as of late. Perhaps you want to add these to your list, or maybe they will get you brainstorming in another direction altogether! Schedule an Intro Call with Loren Charities discussed on today's show: Freedom for Youth Ministries MOSAIC Trailhead International GlobeServe Ministries One Family One Purpose Charitable Giving Strategies- previous podcast episode What is a Fiduciary? About Me Podcast Page For questions, comments, or to receive your own RETIREMENT RISKS ANALYSIS, you can start with a 2 minute quiz here: Share More & Get in Touch You can also find Loren at email@example.com Additional Resources Discussed on the Show Healthy, Wealthy, & Wise YouTube
Come along this week with Jacob and Zak as they discuss the financial fiduciary of the Marvel Cinematic Universe and other unpredictable topics. New episodes every Wednesday! Find Jacob on Youtube and Twitter.Find Zak on Youtube, Twitter, and Twitch.For business inquiries, please contact firstname.lastname@example.org.
It's here! The midterm elections are here. Depending upon when you tune in to this podcast, as of the release date, we are eleven days away. Early voting is in full swing as we quickly approach November 8, 2022. If you are a registered voter, I would like to encourage you to vote in this election. Please take time out to listen to this podcast. We are looking at the Republicans, Democrats, and, Independent platforms and their commitments to America. Here are the links I mentioned during the podcast: CommitmentToAmerica.com (Republican Plan) When talking about the prescription cost check out this link: https://democrats.org/news/reminder-every-single-republican-voted-against-lowering-costs-for-americans-2/ Another article: https://www.aarp.org/politics-society/advocacy/info-2022/medicare-budget-proposal.html JoeBiden.com (accomplishments so far in his administration) Democrats.com (Democrats Plan) Notables.org (Independent Plan) READY to Vote digital Voter Resource Guide: https://www.magcloud.com/browse/issue/2337632?__r=558505 To purchase the magazine: https://www.magcloud.com/browse/issue/2337633?__r=558505 Become a patron: www.Patreon.com/GailDudley Subscribe for the FREE eNews letter that is released bi-monthly. Subscribe by visiting www.GailDudley.com. On the home page, scroll down to the bottom right and subscribe. Follow Gail on Twitter on @GailDudley and @NIMwithGail and Instagram @GailDudley NIM is an aggregated grassroots media outlet sharing relevant commentary and a call to action mixed with an inspirational message. We believe everyone deserves news with relevant commentary beyond the propaganda that comes with a call to action that is significant in building community engagement and to informed citizens with facts. This news comes with up-to-date information with integrity in mind, pertinent information, politics, education, Wednesdays from the White House where we share news directly from the press room, fair and balanced news from all political parties, voter education, advocacy, healthcare, finance, and so much more. November 1, 2022, we will launch The Advocacy Firm. Working with two attorneys, three social workers, and a list of resources, we will begin helping people especially in the marginalized communities find the necessary assistance to live their lives without interruptions. We need your help to make all of this happen successfully. We are asking our supporters to do three things. One, subscribe to Gail's YouTube at www.YouTube.com/GailDudley. Two, subscribe and download the News in Motion podcast wherever you listen to podcasts [Apple, Amazon Music, Tune In, Spotify, Stitcher, iHeart Radio, and more]. Three, become a partner and help us meet the goal of $50,000 to support our advocacy firm, reporting, and research over the next twelve months. We are grateful for every donation, big or small, in helping us reach our goal. Contribute as little as $1 and as great as you are led to give. Please give by sending a check to Making a Difference LLC for Gail Dudley/News In Motion. Making a Difference LLC is our 501c3 Fiduciary agent. Please indicate in the memo section of the check Gail Dudley/News In Motion. Mail to: Making a Difference LLC, 346 1/2 N. 20th Street, Columbus, Ohio 43203
What does do-it-yourself (DIY) investment management look like? Taking this route isn't for everyone. It depends on your situation and personal interest. Just because you can do it, doesn't mean you should do it. If you want to do investment management yourself, learn how to do it right. In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to Dr. Kris Roach, a financial planning client who talks about what it's like to take this on during his first year of practice. Kris has quickly and accurately implemented high-level investment advice. He's doing it for the right way for the right reasons. Topics Discussed: • Investing Knowledge and Experience: ◦ Before: Basic but vague understanding of the stock market ◦ After: Create and execute a financial plan to manage investments • Why follow the DIY vs. professional path? Interest, curiosity, and inherent satisfaction • Getting Started: Commit to learning portfolio process and motivated to achieve • Analysis Paralysis? Plenty of options makes picking perfect funds intimidating • Asset Allocation: Stick with active or passively managed funds, not both • Information Overload: So much, so sort and shortcut through invaluable sources • Time Investment: Takes a few months to set up accounts and select securities • Downturn Temptations: Buy and invest in different stocks? Stick to your plan • Ongoing Tasks: Fund accounts, rebalance, tax law harvesting, invest in the market • Suggestions: If not interested in DIY, find a fiduciary to dedicate time to finances • Fiduciary vs. Financial Advisor: Watch out for wine-and-dine opportunities LINKS: www.WrenneFinancial.com
Marc Steinberg, professor of law at SMU, joins the Business Scholarship Podcast to discuss his article To Call a Donkey a Racehorse — The Fiduciary Duty Misnomer in Corporate and Securities Law. In this article Steinberg considers the rhetoric and reality of corporate fiduciary duty and concludes that directors, officers, and controlling shareholders are not fiduciaries strictly speaking but rather should be understood as having corporate-law-specific duties. This episode is hosted by Andrew Jennings, assistant professor at Brooklyn Law School, with editing by Steven Rozenfeld, a third-year student at Brooklyn Law School.
With all the volatility this year, there are a lot of individuals re-examining the value their advisor brings in. Without knowing every option and without understanding how different financial services are structured, it can be difficult to truly evaluate your performance. That's why we want to provide a clear breakdown of what fees and costs advisors typically charge. We'll start today's discussion with Laura Stover, RFC® and Darlene Tucker, CFP® by unpacking the fees that you'll often find from Registered Investment Advisory firms. Understanding the ‘wrap' fee structure and everything it includes is a great start, but it's very important to know differences you'll find from institutional versus retail money management. Along with the fees we'll detail, you should also take into account the added value that comes from having a comprehensive planning team. Being able to lay out a clear plan that you understand and can follow adds significant value to the performance of the portfolio because it eliminates the decisions that typically get made with emotion. In this modern-day financial planning world, success really relies on the talents of a team to help. Trying to do things on your own or working with someone that doesn't provide a comprehensive plan like you'll find with our Redefining Wealth® process will make it more difficult to build a plan that covers every aspect of retirement. Today's episode should help lay that out for you and set expectations for what to expect from you financial professional. Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/ Rate, Review and Subscribe to the Podcast: https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188 How to Connect: redefiningwealth.info lswealthmanagement.com Schedule a Review: https://redefiningwealth.info/schedule/ Timestamps (show notes): 2:53 – Interesting data about female advisors 7:23 – Registered Invest Advisory firms charge a fee 8:04 – What is a wrap fee agreement? 11:16 – Institutional vs retail money management 14:21 – Added value from a comprehensive planning team 18:08 – When you should run for the door 22:25 – Commissioned based advisors 26:35 – So who should you work with?
Listen in as we bring this series to a close. We have spent three episodes helping outline how you can begin to ascribe value when working with a financial professional. You should absolutely demand the best! In this episode, we explain why a "good" planner can charge what they charge. If they are good and genuinely taking a holistic approach, then they have the answers to the questions you are asking (and paying for!) Areas we discuss: holistic planning, segmentation, teaming, fee-only planning, transparent agreements, and your planner's fiduciary responsibility to you.
Do real estate agents & Realtors owe a Fiduciary Duty to clients? Is this state-specific or general use?In this episode, licensed real estate brokers Derek and Demo discuss this week's topic!We would love to connect with you! Please email us if there are additional topics you would like to hear on this podcast.Real Estate Game Plan Podcastrealestategameplanpodcast@gmail.comWe are powered by Solid Source Real Estate Companies. For more information about becoming an agent with Solid Source, please visit SolidSourceCareers.com
Fiduciary is just a made-up title that means nothing How the Golden Reserve Tax Map can help with your IRA Protect and plan against the high cost of Long-Term Care Vanguard says the market will return 3-5% over next 10 years. Is that enough? Get out of the market; be safe, not greedy.
Jon and Crystal welcome back Marc to talk about how the rest of the school year went, what our plans are for the summer, and what Marc wants to see happen in music education next school year. Round of the Week: "I like to take my time" Fred Rogers Spiccato: Rubber Chickens Our Social Media: @CHClassroom Find Us on Instagram, Twitter or Youtube Crystal Pridmore: @FinneyVAPA Jonathan Seligman: @mrSeligman Marc Keehmer: @marcwithuh_c Email: email@example.com Bryan Pridmore is a financial advisor at Mission Trails Financial. Mission Trails Financial provides awareness, education, and implementation for individuals and businesses looking to navigate their financial pathways. As a Fiduciary, the financial advisor is required to act within the best interest of the client. Please set up an appointment by calling (619) 419-0238 or by visiting https://missiontrailsfinancial.com Crystal Pridmore is a co-host of Chaotic Harmony Classroom. To see more of what she is doing, visit Crystal Pridmore's home page at https://www.crystalpridmore.com Production & Equipment provided by Bryan Pridmore with Pridmoria.com "Capturing Memories Worth Treasuring" https://www.pridmoria.com https://www.facebook.com/pridmoria/
Having the Confidence to Fulfil the Numbers Part of a Board Member's Fiduciary Responsibilities Nonprofit board members know their organization must be financially healthy to do the most good, but some people find financial statements hard to decipher. However, board members of nonprofits need to know basic accounting in order to fulfill their fiduciary responsibilities. Holding management accountable is a crucial responsibility of the board. Knowing which KPIs and trends to track can help keep the nonprofit on track. Nonprofit board members need to invest the time to be able to ask probing questions of management and the auditor to fulfill their responsibilities. Melisa Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in accounting, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. Melisa is a Certified Speaking Professional in Talent Development (CPTD) and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other CPE providers. Within the industry, Melisa serves on the FASB's Not-for-Profit Advisory Committee (NAC), and AICPA Council, and is the Chair of Girls on the Run Greater Charlotte's Advisory Board. She previously served on the AICPA's Technical Issues Committee (TIC), and the VSCPA's Board of Directors, and is a past Chair of the NCACPA's A&A committee. Melisa is the author of Money Matters for Nonprofits: How Board Members Can Harness the Power of Financial Statements by Understanding Basic Accounting. For more information, go to https://galassolearningsolutions.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Today we take a different approach, looking at what NOT to do. Specifically, we will talk through 7 mistakes people make to accidentally invalidate their will. When it comes to your will, it's OK if you didn't "get it right" the first time, just as long as we have it right IN time, as there are no do-overs once you're gone. Schedule an Intro Call with Loren Resources mentioned on today's show: Legal Docs Review What is a Fiduciary? About Me Podcast Page For questions, comments, or to receive your own RETIREMENT RISKS ANALYSIS, you can start with a 2 minute quiz here: Share More & Get in Touch You can also find Loren at firstname.lastname@example.org Additional Resources Discussed on the Show Healthy, Wealthy, & Wise YouTube
Welcome to episode #41 of the Fiduciary U™ Podcast. I am going to try something a little different with this episode. I recently co-hosted Retireholics and a few people were giving me a hard time about how long the episodes are, even though they love the content. I conducted a poll on LinkedIn and 52% of people said they prefer breaking each episode into 2 parts. Not a huge majority but since this episode is a little longer than usual, I'm going to try it out and see what type of feedback I get. I am releasing Parts 1 and 2 at the same time so make sure to check out both episodes. You won't want to miss either one. I can't promise I stick with this format, but we'll see how it goes. My guest on this episode is Chad Johansen who is a Partner & Director of Retirement Plan Sales at Plan Design Consultants, a very successful TPA that focuses on the micro and small retirement plan market. He's also ¼ of the Retireholics and self-proclaimed 401(k) nerd. The moniker works because, along with being one of my best friends in the business, he's also one of the smartest guys I know in the industry. He's successfully serves advisors and plan sponsors by combining a technical mind, a savvy sales approach and an unparalleled work ethic. On the episode, we cover a lot of ground, discussing how advisors can win big by serving the small retirement plan market. We have a great conversation about which providers are doing a good job in that space. How small plan's need a different level of service than large plans and how advisors can develop a skill set and service model that meets those needs in a profitable way. Chad also shares insights about how advisors can differentiate by focusing on tax efficient strategies and advantages for small businesses as well as the benefit of paying fees as a deductible business expense. We also cover topics like why fiduciary liability is oversold in small plans and why advisors should focus on helping plan sponsors avoid operational failures, winning analogies to explain complicated topics, and why advisors need to understand the value of their time and start looking at technology as an investment instead of as an expense to scale their business and drive operational efficiency. I always love geeking out with Chad and had a great time on this episode. I hope you enjoy Part 1. Don't forget to check out Part 2!
In Part 2 of episode #41 of the Fiduciary U™ Podcast, Chad Johansen of Plan Design Consultants and I continue our discussion on how advisors can win big in the small retirement plan market.
Should you work with a fiduciary, and what does it mean to be a fiduciary? A financial advisor working under the fiduciary premise is bound by certifications and licenses to make transactions in the client's best interest. In this episode of the Secure Your Retirement podcast, we explain the importance of working with a fiduciary to manage your retirement investment. Listen in to learn the difference between a broker and a fiduciary, plus the factors that bind a fiduciary to act in the client's best interest. In this episode, find out: The difference between suitability and fiduciary standards. The certifications and licenses that bind an advisor to become a fiduciary. Understanding what it means to be a fiduciary – doing what is best for the client. The factors we consider when evaluating investments that best suit our clients. Why you should ask your financial advisor upfront if they're bound to the fiduciary standard. Tweetable Quotes: “There are certain licenses and certifications that bind an advisor to become a fiduciary.”- Radon Stancil “As a fiduciary, our responsibility is not just to look at one question; it's also to look at everything surrounding that question in a very holistic manner to help you make the best decision for yourself.” - Murs Tariq Resources: If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement! To access the course, simply visit https://pomwealth.net/3-keys-to-secure-your-retirementlp/ (POMWealth.net/podcast.)
The CE experience for this Podcast is powered by CMEfy - click here to reflect and earn credits: https://earnc.me/evJUtk After graduating from Auburn University's Harbert College of Business with a Bachelor's Degree in Finance, Chris relocated to Raleigh to begin his career in Wealth Management. In addition to being a former nominee for Fidelity's President's Circle Award representing the top one percent of advisors, Chris has also been recognized by the International Association of Registered Financial Consultants for fostering public confidence in the financial industry. Chris holds FINRA series 7, 63, and 66 registered Fortress Private Ledger. He's also been an active volunteer with the Junior Achievement program to help promote financial literacy to students in grades K-12. Group Coaching for Physicians MD Coaches is proud to offer Group Coaching for Physicians. This is a small, intimate virtual group that will help to inspire participants to experience personal and professional fulfillment. Sessions begin on Thursday, October 6th, 2022 and runs through November 10th, 2022. You will also earn CME credits by participating! For more information or to register please visit us at mdcoaches.store Join the Conversation! We want to hear from you! Do you have additional thoughts about today's topic? Do you have your own Prescription for Success? Record a message on Speakpipe All The Tools You Need To Build and Scale A Integrative Health Business Get a behind the scenes look at our playbook at Texas Center for Lifestyle Medicine to see the underpinnings of how they deliver health while keeping team members fulfilled. Find out more at https://rxforsuccesspodcast.com/IPB Unlock Bonus content and get the shows early on our Patreon Follow us or Subscribe: Apple Podcasts | Google Podcasts | Stitcher | Amazon | Spotify --- Show notes at https://rxforsuccesspodcast.com/124 Report-out with comments or feedback at https://rxforsuccesspodcast.com/report Music by Ryan Jones. Find Ryan on Instagram at _ryjones_, Contact Ryan at email@example.com
On this episode of the inSecurities podcast, Kurt sits down with Knut Rostad, co-founder and president of the Institute for the Fiduciary Standard, to talk about the fiduciary standard registered investment advisors owe their clients, how the SEC interprets that standard in 2022, the challenges and opportunities for advisors created by the SEC's interpretation and Regulation Best Interest, and what the future of the fiduciary standard might look like. Knut also shares details about panel discussions and content available through the Institute's Fiduciary September program. Learn more here: https://thefiduciaryinstitute.org/2022-2/.
Do you know that identity thieves don't need to steal your entire identity to use your information? Sometimes a single piece of information is all they need to build a whole new identity in a practice known as synthetic identity fraud. Links: Learn more about Triangle's Better Checking account with IDProtect* Have a Better Checking account? Register now at idprotectme247.com. Contact Triangle CU with any questions on getting set up. Learn more about the Big Three credit bureaus: Experian, Equifax, TransUnion Follow our Facebook, Instagram and Twitter pages! Learn more about Triangle Credit Union Transcript: Welcome to Money Tip Tuesday from the Making Money Personal podcast. Experian.com mentions that synthetic identity fraud is one of the fastest growing types of financial crimes out there. This type of identity fraud is when someone steals an identifying piece of information, typically, a social security number, and they use it with other information they've made up to create an entirely new identity. There are many ways a thief can get social security numbers, with one of the most popular places being the dark web. Once they get it, they create a new identity and use it to establish credit, apply for government programs, open bank accounts and for other criminal ways. Oftentimes they use the single number to create many different identities. If you want to keep your identity safeguarded, you need to protect as much of your information as possible. Here are a few things you can do to keep your information out of thieves' hands. The first is to monitor your credit by checking it regularly. Pay attention to statements, reports and notifications related to your identity. Another thing to do is request a credit freeze or lock. You can contact each credit bureau to freeze or lock your credit so no one can gain access to your report. It blocks authorized access as well as unauthorized access so make sure you unfreeze or unlock it first before you choose to apply for anything that requires a credit check. You can also freeze your kids' credit. Kids are often victims of identity fraud. Thieves can steal their social security numbers and personal information. You can freeze your kids' reports by making a request to each of the credit bureaus. They'll create a report and then freeze it to keep anyone from stealing their SSNs and other information. Make sure you are careful where you share information. Social media can be a gold mine for fraudsters who are looking for identifying information. Be careful when sharing personal information like birthdays or addresses on social sites. Also, if you're providing information to a new company or business and it asks you for your or your child's SSN, you can push back and ask them if it's necessary, and if you could use another form of identification instead. Keep an eye on your mail and other documentation. If you get notices or pre-approved credit offers in your child's name, that could be a sign of identity theft. Also, make sure you shred any mail, paper statements and pre-approved credit offers you don't need. Dumpster diving is still a thing and people can still get personal information from digging through trash. Get id protection in case something happens. Monitoring and notifications are the first line of defense when it comes to safeguarding your identity. But sometimes things can still happen. Get set up with an identity theft protection service so if you ever become the victim of identity fraud, you'll have an advocate who can help you manage it and recover. If you don't have identity protection, Triangle Credit Union offers a Better Checking account with ID Protect. This service provides credit monitoring, fraud resolution, and monthly credit reports to help you keep an eye on your identity. If you're looking for a first step, that's a good place to start. If there are any other tips or topics you would like us to cover, let us know at firstname.lastname@example.org. Like and follow our Making Money Personal FB, IG and Twitter pages and look for our sponsor, Triangle Credit Union on social media to share your thoughts. Thanks for listening to today's Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast. Have a great day! *ELIGIBILITY: IDProtect service is a personal identity theft protection service available to personal checking account owners, their natural person joint account owners and their eligible family members (as defined below). The service is available to non-publicly traded businesses and their business owner(s) listed on the account and their eligible family members (service not available to employees or authorized signers who are not owners). For revocable grantor trusts, the service is available only when a grantor is serving as a trustee and covers the grantor trustee(s) and their eligible family members. For all other fiduciary accounts, the service covers the beneficiary, who must be the primary member, and the beneficiary's eligible family members (Fiduciary is not covered). Service is not available to a ""signer"" on the account who is not an account owner. Service is not available to clubs, organizations and/or churches and their members, schools and their employees/students. Eligible Family Members include: Spouse, persons qualifying as domestic partner, and children under 25 years of age and parent(s) who are residents of the same household. Insurance product is not a deposit; not NCUA insured; not an obligation of credit union; and not guaranteed by credit union or any affiliated entity. Registration/activation required. Triangle Credit Union membership is available to anyone working or residing in the Hillsborough, Merrimack, Belknap, Rockingham, and Cheshire Counties of New Hampshire, as well as the Franklin, Worcester, Middlesex, and Essex Counties of Massachusetts.