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Admin

Admin
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Everything posted by Admin

  1. I have to think this is a result of the NY Times 403(b) stories: Illinois Teachers to Get New Retirement Savings Plan Excerpt: “We required TRS to create a deferred compensation plan to offer to every school district,” Martwick said. “So now teachers will know they will get a high performing, low-cost deferred compensation plan to supplement their retirement.”
  2. Admin

    Pod now on Spotify

    The Teach and Retire Rich podcast is now available on Spotify.
  3. Admin

    Need Help with 403(b)/ 457 Options

    Welcome CMK, A couple of resources: 403(b) and or a Roth IRA 457(b) Information Dan
  4. Admin

    Our Pod now on Stitcher

    Hey Everyone, The Teach and Retire Rich pod is now available on Stitcher (in addition to iTunes and Libsyn). If you have an Android phone you can now listen to TRR on the Stitcher app. We will be available on Spotify shorty. - Dan
  5. 403bannuitysalesman, Can you share the name of the school district? Thanks. - Dan
  6. Hi All, I wanted to bring your attention to a new ally in the fight for transparency in the 403(b) market: Principal Review. Scott and I interview CEO and Managing Director, Daniel Alexander in our latest pod (#61). His firm is taking on the conflict of interest service and sales structures that exist within group sponsored retirement plans (ERISA and Non-ERISA including the 403(b) plan). Principal Review’s services include a Conflict of Interest Audit that identifies conflicted structures that serve to undermine the health of the plan and its participating employees. We are also proud to have Principal Review as our newest sponsor. You can see their link at the top of the Discussion Board. Feel free to reach out to Daniel with any questions: dalexander@principalreview.com Dan
  7. Admin

    Six Legit Index Funds That Build Wealth

    Great resource, Tony. Thanks for posting!
  8. Finally (!) a directory of fiduciary advisors for the 403(b) and 457(b) audience. 403(b)wise launches the 403(b)wise Fiduciary Advisory Directory Public 403(b) plans are notorious for expensive 403(b) products pushed by non-fiduciary sales agents. “Teachers, professors, nurses, and those who work at educational institutions, and non-profits don’t know who to trust when it comes to financial advice,” said Dan Otter, a teacher, and founder of 403(b)wise.com, a website that provides news and information, and advocates for better 403(b) plans. “It’s long been my goal to provide a resource of fiduciary advisors who understand the 403(b) and 457(b) plans.” The directory launched March 1, 2018 with eight CFPs®. In addition to being a CFP®, each has agreed to sign The 403(b)wise Fiduciary Pledge. Individuals who have been authorized to use the CFP® certification have met rigorous professional standards and have agreed to adhere to the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence when dealing with clients. The minimum designation for inclusion in the directory is a CFP®. Currently 403(b)wise is not accepting applications from Registered Representatives or those licensed to sell insurance. The directory will will only feature fee-only, fiduciary financial advisors. For more information on applying to The 403(b)wise Fiduciary Advisory Directory.
  9. Admin

    New teacher trying to find a 403b Provider

    Cool link, Tony.
  10. Thanks for pointing out attachment fail. I pasted info and removed your post. - Dan 

  11. Admin

    Thanks for pointing out attachment fail. I pasted info and removed your post. - Dan 

  12. Hey All, One of our favorite firms, Aspire Financial Services, has an Account Executive Director position open (see below). Please share with anyone you think might be a good fit. Interested persons should contact Tonya.Kachurak@Aspireonline.com - Dan DEPARTMENT: Client Management POSITION: Director | Account Executive FLSA: Exempt DATE: 08/2018 JOB SUMMARY: The Director | Account Executive is responsible for the overall health, retention and growth of key channel client relationships throughout the entire lifecycle from proposal to steady support state. Provides management oversight for the day-to-day support of all account service functional activities and targeted initiatives. Ensures Aspire is consistently meeting and or exceeding service quality, productivity and financial metrics. Serves as a key member of the Client Management Team and provides industry insight, input and support in defining, developing and executing Aspire’s service strategies, as well as operational and financial objectives. DUTIES & RESPONSIBILITIES: 1. Team Management • Coach and mentor Business Relationship Consultant (BRC) team to deliver high performance. • Develop and maintain an appropriate and cost effective team structure that supports the needs of the business. • Supervise recruitment, development and retention of the BRC team. 2. Service & Support: • Develop and cultivate relationships with all key channel clients. • Work with departmental management to continually identify, define, monitor and ensure all key performance metrics meet or exceed expectations. • Ensure continuous delivery of quality customer service through oversight of service level agreements. • Implement and maintain client feedback framework to provide insight and visibility to identify service delivery and support improvement opportunities. • Establish and facilitate strong communication with sales and marketing teams to identify opportunities to cross-sell solutions to existing clients. • Partner with key internal units to develop account management strategies, resolve issues, and streamline processes. 3. Client Retention & Growth: • Lead the sales development strategies and efforts including, but not limited to continuous introduction of the full suite of services and programs to significantly increase awareness and growth opportunities. • Partner with Sales and Project Management Office (PMO) to cultivate and facilitate the on-boarding of new channel and BPO relationships throughout all phases of the engagement cycle, including but not limited to: • Define and facilitate due diligence and discovery process. • Develop and execute a full-scale implementation and transition plan. • Establish operating parameters. • Track project milestones using appropriate tools. • Identify and coordinates implementation of internal and external resources to define project objectives. • Manage project scopes, goals and deliverables that support the business strategy in collaboration with senior management and stakeholders. • Act as a facilitator between the groups to resolve issues. • Ensure consistent and frequent communication of project status to stakeholders. 4. Support Platform Migration and Ongoing Evolution: • Work with IT team to support and facilitate the implementation of functionality enhancement. • Lead effort to develop and facilitate formal migration and deployment plan. • Lead and support Aspire’s communication strategy and plan. 5. Leadership & Strategy: • Translate business strategy and objectives into tangible goals for the service delivery teams. • Keep current with trends and issues in the IT industry, including current technologies and prices. Advise, counsel, and educate executives and management on the competitive or financial impact. • Demonstrate Aspire's core values and customer service standards. 6. Any other duties assigned by Management JOB REQUIREMENTS: • Ability to structure and solve complex problems using a fact driven analytical approach • Ability to structure work, manage strategy projects and provide thought leadership to the team members • Strong oral and written communication skills; ability to synthesize and effectively communicate key messages • Must have excellent active listening skills • Proven track record of thought leadership • Expertise in business strategy or operations strategy • Ability to create strategy tools, frameworks and processes • Strong executive presence; not through arrogance, rather collaboration and influencing; a strong, humble leader • High cross-cultural awareness • A team player able to work with and through others with the ability to influence others and move toward a common vision or goal • Ability to ask probing questions and drive to find the right answer • Commitment to excellence REQUIRED EDUCATION/KNOWLEDGE/EXPERIENCE: • BS in related field required; MBA in related field desired • A minimum of fifteen (15) years broad based operational experience within the financial services industry (preferably retirement) with demonstrated results in the execution of relationship strategies, including a proven track record of identifying, developing and nurturing strategic partnerships • History of collaborating closely and effectively with delivery, operations and practice teams in business development, relationship management and competency building scenarios • Possesses deep financial services and retirement industry expertise; heavily steeped in front, middle and back office processes • Travel up to 40% • Experience and track record of closing new business through strategic outsourcing engagements and partnerships with C-level buyers. • Sitting, typing and computer monitor viewing for extended periods. Occasional lifting up to 40 pounds. Must be able to type and perform repetitive key strokes.
  13. Axa Equitable is looking to grow its retirement adviser arm and focus on growth opportunities in the 403(b) space as it reported outflows from its investment management and individual retirement arms. Announcing its Q2 results, the recently floated US operations of the French insurance giant blamed net outflows of $7.7billion.
  14. Thanks for the report, Steve! I wish I could have gone. I have followed this movement closely for the past few years.
  15. Hey All, It took some time, but the latest — and 7th edition — of Teach and Retire Rich is now available for purchase. We have a fancy new website (and cover) as well (thanks, Amanda!): Teach and Retire Rich 7th edition.
  16. Admin

    403b loan question.

    Hey Michael, Great to hear from you. Thanks for superb contribution. I hope all is well. - Dan
  17. This is great news! Well done!
  18. Admin

    Disability Protection

    Important article on need for disability insurance from one of the members of our 403(b)wise Fiduciary Directory: Disability Protection
  19. Admin

    Why Teachers are Walking Out?

    This is the single best story I have seen on this topic. As Steve, points out, it really helps explain, without even mentioned the plan, why the K-12 403(b) largely stinks. As MoeMoney mentions, there is much original thinking in this story. - Dan
  20. Admin

    403(b) Choices

    Sorry for being a little late to this discussion. Kevin, thank you for sharing this, and thank you for trying to make sense of the insane world that is the K-12 403(b). Thank you too to all of the 403(b) advocates helping you out. I don't believe this was shared but if you want to use an advisor ask them these questions: https://403bwise.com/pdf/403bwise_Advisor_Questionnaire.pdf and make them sign this pledge: https://403bwise.com/pdf/403bwise_Fiduciary_Pledge.pdf We have created a special directory of fiduciary advisors who pledge to answer these questions and to sign the Fiduciary Pledge. These advisors will work across state lines. I know that Amy and Anthony are in the New York area: https://403bwise.com/directory
  21. Admin

    403b Questions/Options

    403bwise Discussion Board http://board.403bwise.com/topic/6120-security-benefit’s-neadirect-invest-vanguard-admiral-funds/ http://board.403bwise.com/topic/6400-security-benefits-nea-directinvest-vs-lincoln-investments-partic/ http://board.403bwise.com/topic/6803-choosing-a-403b-plan/?page=2&tab=comments#comment-37383 Bogleheads https://www.bogleheads.org/forum/viewtopic.php?t=180418
  22. I thank Steve Schullo for sharing this article. Brief in University of Pennsylvania 403(b) Lawsuit Points Out Differences From 401(k)s An amici curiae brief filed by the American Council on Education and other higher education associations details the history of higher education 403(b) plans. My Take: It’s an interesting argument being made by the American Council on Education: original design of University retirement plans permitted/acknowledged movement of faculty + 403(b) plan just different than 401(k). On one hand, I fear defendants in any K-12/non-ERISA lawsuits could use a similar argument: plan is different; high fees are part of the culture, but other argument would not fly: plan designed for employee movement. I suspect most K-12 teachers stay in place or move among one state. - Dan
  23. https://403bwise.com/k12/story/382
  24. Agreed. Let's hope he's successful!
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