Many of you have been hearing or reading in the news the discussion on what is referred to as the “Fiduciary Rule.” A version of the Fiduciary Rule was originally proposed in 2010 by the Department of Labor (DOL), then quickly withdrawn amid great protest in the financial industry. Essentially, the concept is and was to overhaul ERISA (Employee Retirement Income Security Act)—originally enacted in 1974 to regulate the quality of financial advice surrounding retirement. In 2015, President Obama ... [Continue Reading]
Articles and Publications
A library of topical publications and articles written by CCM team members specifically for our clients.
Throughout the years we’ve come to appreciate the different perspectives held by firms and service providers within the financial services industry that vary from ours at CCM. We believe that varying viewpoints lead to meaningful conversations that ultimately produce better advice, products and service for our clients. This point is timely this week, as a recent Wall Street Journal story, “DFA Funds Are Booming, but That Adviser Fee Matters,” rightly highlighted the benchmark beating performance ... [Continue Reading]
It is interesting to observe how perceptions vary from reality when it comes to 401(k) plan participant retirement account fees. In a survey conducted by Rebalance IRA, they found 46 percent of employed baby boomers believed that they do not pay any retirement account fees at all, 19 percent thought their fees were less than 0.5 percent and only 4 percent of those surveyed believed that they pay more than 2 percent in retirement account fees.1 According to the 401(k) Averages Book, the ... [Continue Reading]
The November elections resulted in a Republican sweep of the White House, the U.S. House of Representatives, as well as the U.S. Senate—results that could very well set the landscape and build momentum for major tax reform in 2017. President-elect Trump and House Speaker Paul Ryan have each put forth initial proposals that have the potential of serving as platforms for major tax reform legislation. For this quarter’s update, we thought you might appreciate a summary of what we believe are the ... [Continue Reading]
As the new year begins, one of the most common questions I’m asked in my role at the firm is, “What do you think about 2016? Was it a good year?” In this context, the question typically refers to the year from an investing perspective. However, assigning a letter grade or a broad ranking to the span of a year doesn’t necessarily align with the depth of our experience and how the world’s events impact our lives. Categorizing a year as exclusively good or bad can overlook the complexity of events ... [Continue Reading]