Our first entry into the 2010 article competition has been posted. AIFA designee Roger Levy of Cambridge Financial Services Group in Greenwich, CT, authored the article "401(k) Plans: the Lake Wobegon effect." The article argues that participant-direction has proven itself not to work. No matter how much more information and participant education is made available, the situation hasn't changed. The solution, argues Roger, is in professionally managed plans, citing evidence that they have proven more successful in the market turmoil of the last year. Roger also provides advice in converting to trustee-direction, such as the proper appointment of fiduciaries and changes to the investment policy statement.
If you have any feedback on the article, submit it to resources@fi360.com or in the comments section below.
The winner of the article competition receives a $1,000 prize at our 2010 National Conference. For more information on the fi360 article competition, visit the article competition home page.
Comments