Financial Advisors Discussions
Benefits

Working with someone that is about to go off COBRA. Not an expert with health insurance but like to be more involved. Do most of you provide advice in this area or do you point them in the direction?

How do I get my clients to budge on 401k in-service distributions?

Been doing a lot more 401k biz and want to eventually do that alone. Want to complement the 401k with group DI/group life. Is it possible with smaller companies? What about group life? Any experience?

While researching software to start RIA, I'm coming across the term Portfolio Management Software. Wondering about the ones you've used, the cost, and benefits in terms of managing client assets?

Have a bud who was a FX trader and now unemployed. Saw him yesterday and he wants to roll over his 401k at abt 800k. Now he has some bad habits so I ignored him but now need to give him an answer.

Needed a new roof and hired a carpenter. He stops by my office to pick up paperwork and asks me about my retirement plans. I find out he has about a million in his 401k.

Anybody bought or sold a book of 401k plan business recently? I'm interested in hearing what kind of multiple it sold for, what other factors went into the price, and how the handoff process went.

What's your business' focus? (Investments / planning / insurance / employee benefits / etc). What has been the biggest draw for clients?

Client calls me today, told me that the broker that sells her health insurance said she should be putting her assets into annuities, something to do w/ being able to buy insurance from the pool. WTF?

My boss is encouraging me to sell supplemental Medicare insurance. Don't know much about health insurance but seems fairly easy. Thinking of doing this next year and wondering if anyone has done this

Can an ex spouse claim social security benefits of ex spouse (married 10+) at age 62 then switch to own at 70?

Question for my 401k focused advisors out there--what programs are you using that is instrumental to your 401k practice that you simply can't do without? I'm being pitched on Envestnet & im not sold.

a 32 yr1099 making 350k and maxing out HSA, 401k and wife's 401k and 529's what else are you guys putting money into? We have 2 rentals and all our income goes into an S Corp extra into in Muni bonds

What are your favorite abbreviations in the biz? IRA? SEP IRA? 401k? Go!

How many of you have to get participant fee disclosures before being able to roll over a 401k? Use to be easy to roll over a 401k and now you have to go through the circus before getting new money in.

Client has a VA w Principal in an IRA Rollover account w high expenses and no other benefits. My B/D has a selling agreement w them, can I get listed as the servicing agent until it can be moved?

Can anyone tell me about the firm Janney? Like employee benefits, 401k match, health insurance options... anything??? Their is not much on the web about these guys..

Anyone have good strategies on convincing clients to do in-service 401k rollovers? I have many clients still working after 60 years old and I've never really tapped into this goldmine within my book.

Been working in 401k service about 8 years, looking to go indie as a consultant. Any FAs here partner with consultants or thoughts on my market, particularly in light of DOL rule?

What would you consider a fair amount to charge client to mange their Employer sponsored investments for them i.e, 401K/403B etc. I was thinking somewhere in the 50 bps or $750 annual range.

My focus is on the 401k marketplace. Are there any advisors in here that are looking to sell their book of business that may or many not be 401k related? Feel free to connect w me.

Curious how much and how you guys are saving for retirement? I save $20-30k a year into a SEP. My wife maxes her 401k and has a pension. I'm considering doing some deferred comp starting next year.

I have a client receiving SS disability benefits whose spouse passed. The client wants to know if they can keep receiving social security disability benefits AND SS retirement survivor benefits.

Are any of you members of the FPA, either nationally and/or locally? What are the benefits of membership?

My daughter got a job offer this week, and accepted it. Good job, huge raise. Being her fathers daughter, she of course, asked about the company 401k. She will be eligible immediately. Its Vanguard.

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores.

At this time my qualifier for prospects is: Do they prospect have old 401k or existing account with advisor. How do I create a sense of urgency so that they'll meet with me?

Mass mutual guy came out other day and insisted 401k plans was where it was at. All other advisors say it's waste of time. What's what guys?

Curious about career opportunities with Fidelity. I am a banker/relationship manager at an investor center branch for a BB. My main responsibilities are handling banking/lending for a book of business, discovery convos with prospects, creating financial plans and referring business to financial advisors. I have a series 6/63, life accident health insurance license. My goal is to get to a position as an FA. What fidelity roles would be most logical to apply for? Right now I make about 75-80k.

Currently work with providing investment services and advice to defined contribution and define benefits plans. OCIO relationship with some clients. Would this count towards the CFP work experience?

I am a wealth advisor for a credit union. The company offers 90k base salary and we receive a 10% payout on revenue. We also have a company paid pension & 401k matching at 4%. I’ve been here a little over a year and I feel like they are getting over because it’ll take me 5 years to just clear around 125k/yr. What are you all thoughts on this compensation plan?

Switching firms. Currently have money sitting in a 401k account from previous employer. Thinking about what I should do with it. Move it over to the new employer 401k? Traditional or Roth IRA?

For independent’s with GDC 1-2 million… what % do you spend on staff?
As we have grown we have needed to add people… para planners…. Investment traders for the managed account… just added a junior guy good with computers just to keep the desk tops and laptops working with all our software programs and the required security.
We are spending about 35% for salary and benefits.

I went through two rounds of interviews for
a job that the posting stated $36.66 per
hour (FP&A Analyst)…the company
recruiter had told me in the initial call the
pay could be 32-36 because of the other
benefits. If I do get a job offer what range
should I try for? I was really hoping to get
around the 36-40 but now I feel like they
may try to offer lower than what was
posted. Also there was no range but the
average for this position is upper 70s-90k.
Thanks for any help!

Interested in what other roles may be out there for someone that doesn’t want to be a financial advisor but has all the qualifications. 10 YOE with series 7, 66 and 63 life and health insurance and about to have my ChFC. I always loved the client side of things and relationship management but was never into the investment management side- this far into the finance world just trying to find other roles that align with my experience but may be more personally satisfying.

I am about to get an offer for the TFA program at Merrill Lynch. Wondering if some people have gone through the program and what their experience was like? What was your comp structure/what would be a good number for me to ask for?

Series 65 license, 3 years of experience with 401k plans, the group I am joining specializes in K plans. Thank you!

Is there any benefits from hiring a financial advisor in a young age? I’m 26 and I’m not sure I’m picking the right investment for retirements accounts etc.

Does anyone know what the differences are from a level of support between the quasi w-2 employee independent advisor and the contract 1099 independent advisor at Raymond James? I understand that the former includes HR, benefits, etc. but from a practice management perspective is the back office support about the same? Marketing? Either channel, you are in control of the expenses from what I understand. Also the grid is about 10% more at a minimum going completely 1099 independent with them.