advice

Still Thankful the Day After Father’s Day

It's Monday, the day after Father's Day, two thousand and seventeen.  I hope all the Dads out there had a great one.  I sure did.  I am very grateful for my kids who qualify me to celebrate and to my dad, well, for everything.  Even in the 19th year of working together, my dad continues to teach me and serve as an example by how much he cares about our family, clients, and business.

My favorite Father's Day tweet that I saw yesterday came from Morgan Housel. 

 

Simple and to the point.  Great advice that resonates strongly in my middle-agedness!  This got me to thinking about fatherly advice in my family.  Here's what came to mind.

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Benchmark Your 401(k) Plan

Runnymede has increasingly been serving as a fiduciary advisor to companies' 401(k) plans so I will be writing a series of articles on how to tune up your retirement plan.  The intended audience is the company and its trustees that sponsor the plan but participants are also advocating for better plans.  It is our hope to help employers optimize and better manage their retirement plan. In doing so, we seek to help employees achieve their goal of successfully preparing themselves for retirement.

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How the fiduciary standard protects you

You may have heard media reports about a new fiduciary rule for retirement accounts that the Trump administration is trying to rescind. Understandably, you have questions about how this might impact to your accounts. The rule was designed to ensure recommendations made by financial advisors to their clients regarding their retirement accounts are always made in the best interests of the client without any conflicts of interest. This rule was set to go into effect in April, but that is being delayed by 180 days and may be killed entirely.

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The Madoff Effect: Do you trust family businesses?

Madoff Effect

Ever since Bernie Madoff’s $50 billion ponzi scheme hit the news in 2008, as a family investment firm we inevitably face the question, in no uncertain terms, “How do we know that you aren’t another Madoff?” First of all, I don’t think one bad apple should spoil the bunch. America has been built on the backs of great entrepreneurial families whose businesses are still thriving today. Walmart, Mars, Aflac and Fidelity Investments are family owned shops that have grown into multi-billion dollar corporations. I don’t think anyone questions them just because they are family businesses. But I understand people’s concerns especially when their hard earned savings are on the line.

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