October 11, 2016

Episode 21: Why The Word Fiduciary Matters For Business Owners Using A 401k

Mike Eklund

Chad Smith

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Why Being A Fiduciary Matters to a Business OwnerNew regulations for 401k regulations are putting even more responsibility on business owners. Understanding these new laws can be a complex, and time-consuming task. With the terminology dominated by acronyms and uncommon financial phrases, it’s easy to fall into analysis paralysis. Join Chad and Mike as they help walk you through the basics of what employers need to know to ensure they are ready for the changes.

Topics Covered

  • What does Fiduciary Really Mean?
  • How to Operate a 401k from a Business Owner’s Point of View.
  • Is your plan designed for auto-saving features?
  • Do you offer a Roth 401k option?
  • How much is your 401k actually costing you?
  • What is a Third Party Administrator or TPA?
  • Do you have imprudent investments within your 401k?
  • Ways to find better options if you think your plan is sub-par.
  • How do you know where to go next?

Facts and Links Mentioned In the Show

 

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October 11, 2016

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Mike Eklund is a CERTIFIED FINANCIAL PLANNER™ practitioner. In addition, he has an MBA in Finance and the Chartered Retirement Planning Counselor designation. He is an active member of NAPFA, is the co-host of Financial Symmetry’s podcast, and has been quoted in various industry publications.

Chad Smith is a Certified Financial Planner™. He is an active member of NAPFA, the Financial Planning Association, and FPA’s NexGen. He has been quoted and appeared on WSJ.com, Bloomberg.com, Businessweek.com, Msn.com, Financial Planning Magazine, Triangle Business Journal, and Investment News.

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