APTUS FINANCIAL BLOG
Aptus recently provided education, counseling and enrollment assistance for a new 401k plan with around 2,000 eligible employees across several states. Participation in the plan increased more than 30% and savings rates improved meaningfully as well. We were excited to see the positive impact on the plan, but we were most surprised by the lessons learned along the way. We discovered new ways to think about courage, skepticism, trust, shame, leadership, communication, culture, empathy and life.
Interesting article in TheStreet by Ellen Chang on the many reasons to part ways with traditional financial advisors. '"Some advisors are not fully disclosing their inherent conflicts which make it difficult for them to provide truly unbiased advice," said Tim Quillin, a CFA and partner at Aptus Financial, a Little Rock, Ark.-based financial planning firm. TheStreet article: Fire Your Financial Advisor If He Follows Any of These 12 Doctrines
Aptus Partner Tim Quillin wrote a guest column in Arkansas Business on 401(k)s. "If you’re a small-business owner or executive, please go through a formal review of your 401(k) plan. Chances are you can do better. A high-quality 401(k) plan shows employees you care about their long-term future and often provides peace of mind that makes your workforce healthier and more productive. It matters." Arkansas Business column: Your 401(k) Plan Matters
Lindsey Millar, editor of the Arkansas Times, published a thoughtful, well-written story on 401(k) retirement plans. We'd highly recommend it even if we weren't quoted in the piece. Arkansas Times article: You're doing your 401(k) wrong!
After doing plans for over 250 clients, with an average income of $300,000, we can say with confidence that of all the important things we do for clients—from tax planning to investment planning—absolutely nothing is as important or life changing as cash flow planning. One of our greatest challenges at Aptus has been finding a cash flow system that works universally for our clients. And we have it. Read More
Look, we get it. You trust your advisor. You have peace of mind. You don’t want to manage your own money. But $20,000?!? We can work with you on a plan to transition your assets to very low-fee mutual funds that can be extremely easy to self-manage. For a one-time charge of $4,000, we can help you break up with your financial advisor. It will be an educational process and ultimately liberating. You can do it yourself, but you don’t have to do it alone. Read More
Aptus Financial, a provider of fixed-fee financial planning services, applauds today’s initial implementation of the Department of Labor’s new rule requiring financial advisors to act in the best interests of their customers when handling their retirement money. Read More
Another good article on the fiduciary rule. 'Acting as a fiduciary means you're doing what's in the best interest of clients, said Tim Quillin, a partner with Aptus Financial in Little Rock. It's a higher level of accountability than the suitability standard used by brokers, planners and insurance agents who work with retirement accounts. "It's a little sad that we need regulations to define investment advisers as fiduciaries to retirement plans," Quillin said. "That should be fundamental to what our goal is as an investment adviser."' Arkansas Democratic-Gazette Article on Fiduciary Rule
Great article in TheStreet.com about conflicts of interest in front of the pending fiduciary rule. "To avoid this conflict, some firms like Aptus Financial have chosen a different strategy and charge investors by the hour for financial or tax planning and asset management and do not sell any products. 'We are fiduciaries not just in name, but in the truer sense of removing all conflicts of interest from our business and focusing solely on what's best for our clients," said Quillin. "Ultimately, we think this is where the world is headed.'" TheStreet.com Article on DOL Fiduciary Rule
Trust is a funny thing. Place trust too easily and your labeled gullible. Place trust too slowly—or not at all—and your deemed cynical. Given the financial stakes involved in selecting an advisor, we’d err on the side of cynicism. Do your homework and make the advisor earn your trust. Read More