The Derivative Project

ERISA Breaches

It’s Financial Literacy Month:  Ignore Wall Street Workplace Curriculum

It’s Financial Literacy Month: Ignore Wall Street Workplace Curriculum

Bloomberg, New York Times, CNBC and your workplace 401k/403b “financial education curriculum” are all designed to keep the the financial services industry booming, on your Nickel.  Control of the media message, Congress, billions of dollars of advertising and the workplace curriculum have prevented normal supply and demand forces to operate…

What to Make of Pinnacle Advisory Group’s Fee Pyramid:  Your Road Map to Retirement Financial Advice Fees

What to Make of Pinnacle Advisory Group’s Fee Pyramid: Your Road Map to Retirement Financial Advice Fees

Mr. Kitces tweeted this article today on a recent study done by Vanguard, that contends that an Advisor adds 3 % to an investor’s returns. Are retirement investors at Pinnacle Advisory Group, that pay 3.30% in “advice” fees, actually falling below industry benchmarks, after mutual fund or managed account fees,…

This Schwab Ad Epitomizes the Disingenuous Advice Industry: Buyer Beware

Charles Schwab was once a leader in doing what is right—a low cost leader – a pioneer in discount commissions.  They are still an excellent custodian and their online tools are top notch. However when Schwab moved into “packaging product” and became the purveyors of “advice” to the retirement industry, they…

New Retirement Service Eliminates Conflicted Financial Advice and Poorly Performing 401(k)/403(b) Investment Options

Announcing Not On My Nickel New Retirement Service Eliminates Conflicted Financial Advice and Poorly Performing 401(k)/403(B) Plan and IRA Investment Options Not On My Nickel, a research and education service for retirement savers refuses to wait for Washington to fix the retirement system and financial advice industry’s misconduct.  Not On My…

The Fiduciary Debate is But A Sideshow: The Underlying Question is Capitalism or Dependency?

The continuing debate in Congress, the SEC and the Department of Labor on who is and who is not a fiduciary to American’s retirement savers is but a sideshow.  The retirement crisis, can be traced in part to the conflicted role of the middleman advisor, which can be summarized by…

Why Financial Literacy Efforts Failed: Wall Street Wrote the Curriculum and Spread the Message with the help of Public Radio

Experts are baffled by why all the tax dollars and private money flowing into K-12 Curriculum and private foundation support has failed to make a dent in American’s financial literacy score. Here is brief synopsis at CNBC, June 4, 2013, Financial Literacy Efforts Get Failing Grade. With a focus on…

Why the Debate on Fiduciary Duty is Meaningless without End to Mandatory Arbitration

Congress, the Department of Labor and the SEC are all fiercely debating if a stockbroker should act in the best interest of a retirement saver.  Based on current contract agreements an individual retirement investor signs when he opens up an IRA, any claims for losses in their IRA are subject…

Investors, Who Should You Believe About Money Market Reform: Wall Street or Economists and Commercial Banks

Wall Street vs Commercial Banks There is a war going on out there and most investors have no idea, yet Wall Street is insisting they know what is best for every investor.  No surprise, what is in the “investor’s best interest” is in Wall Street’s best interest.  Has your financial…

Attention Retirement Savers: Time for Immediate Demand for Alternative to Money Market Funds and Your “Voluntary Recapture” from Wall Street

Today is Labor Day or a time to celebrate the economic and social contributions of our nation’s workers.  Take a look at this as we celebrate. Schwab’s Retirement Advantage Money Market Fund Fine Print or Why Retirement Savers will Never Get Ahead   Here is an excerpt from Schwab’s SWIXX…