Category: Ethics & Compliance
Protected: Income Streams for retirement… what are the risks?
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Predicting growth of your 401k
We are exposed to algorithms daily… Netflix uses them when recommending movies, and Google recommends choices on their search engines based on algorithms. Predicting outcomes when making financial decisions rely on algorithms as well, so why not use them to when predicting growth in your 401k plan? The Principal Group…
Plaid… is it Safe?
Millions of investors and other financially astute individuals have added “Plaid” to their cell phones… is it safe? I had never heard of Plaid until recently when I tried to link my personal checking account to a Citibank Savings accent I had recently opened. Citibank was offering a very attractive…
DOL baits 401k investors to buy ESG
Once again the Department of Labor(DOL) is fighting for the right of ESG fraudsters to rip off your 401k plan! Recently, the DOL announced they were prioritizing Environmental, Social, and Goverance (ESG) investing to enhance education on ESG factors. Not long ago, your employer was prohibited from adding ESG investments to your 401k portfolio due to predominent flaws in the investment protocol… virtually any investment property owner could declare their marketed investment as an ESG fund, overstating the market value for the investment,as well as the risk involved. Most ESG brokers make off like a bandit, ripping off investors of billions of hard earned dollars. Soon insurance companies bought into the scam, and all Hell broke loose in the investment world, forcing the DOL to prohibit the purchase of ESG for all the right reasons.
Assistant Secretary of Labor Lisa Gomez seems to think she can “educate” the public so 401k plans can once again “take advantage” of investment opportunities, supposedly for workers looking to add sustainability in their investments. Lisa M. Gomez was sworn in as Assistant Secretary for Employee Benefits Security on October 11, 2022. The ESG rule was finalized in November. Since it’s finalization, it has faced a series of pushbacks and political constraints in order to protect investors and to prevent the bastardization of your 401k. It appears Ms Gomez has other ideas, however, since it is her view that ESG is an “investment opportunity.”
Private Equity…Vetting Your 401k (1)
Today, more than ever in the past, private equity is gaining a strong foothold in pension and 401k plans. In 2019, roughly $3.9 trillion in assets were held by private equity firms, and that was up over 12% from the prior year. Private equity fell off a cliff in 2020,…
Why are you paying for Union pensions…
Ok, I get it… Biden got tight with the unions sick leave issues and is trying to make it better, but PERHAPS this is a bit of overkill? He signed into law a Grant (apparently perpetual) guaranteeing that union pension funds are now “guaranteed” for decades to come. No-one really…
Private Equity… Vetting Your 401k Plan (2)
We have all heard the phrase, “Too many Chiefs and not enough Indians.” And often you were told that you own your 401k plan. The regulators tell you so for the reason is that it is called a self-directed plan, meaning you can freely make your own investment choices. Unfortunately,…
Protected: Principal’s TV Commercials… appealing to your weaknesses
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Protected: Breach of the Duty of Loyalty and affiliated recordkeepers
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Protected: Fiduciary Safe Harbor… What it is and why you should be worried..
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