Posted in Ethics & Compliance

Fiduciary Rules… The Good, Bad and the Ugly

The Good…. Recently, the U.S. Senate held hearings on new rules to make retirement investing safer for all Americans. Managing Director of Rebalance IRA, Scott Puritz, is a nationally recognized authority on retirement investing and was asked to provide the Senate with expert testimony on the subject. This Link will…

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Posted in Ethics & Compliance

Trustee versus Fiduciary in your 401k

Quoting the Principal Trust Company web page… “Principal Trust is the trust services provider of choice for The Principal.® As such, Principal Trust collaborates with financial professionals of The Principal® to assist with fiduciary responsibilities and safeguard retirement plan assets for their clients…The Employee Retirement Income Security Act of 1974…

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Posted in Ethics & Compliance

Securities Fraud in the CMBS Market

In 2002, a Florida developer, Butters Construction, obtained a mortgage loan for $2,750,000 from Principal Life Insurance Company.  The borrower was Lyons Tech I, LLC., of Coconut Creek, Florida.  In 2003, Principal Life, as the Original Lender, transferred it’s interest in the note to LaSalle bank, as Trustee for BEAR…

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Posted in Ethics & Compliance

Executive’s Positions…in Fact or Fiction

Recently I posted the following business cards of past and present Principal Financial Group executives, including previous Iowa Insurance Commissioner Therese Vaughan, all identified as Provident State Bank employees. The following list describes their current or past positions: Mr. Larry Donald Zimpleman has been the Chief Executive Officer of Principal…

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