An attorney friend of mine often repeated the story of the lawyer who saw an auto accident. He said, “I saw the whole thing! I can represent either side!” In the past year or so upwards of $60 Million have been paid in settlements from retirement plans after the accusation of fiduciary breach. These cases rarely win in court, but settling is less costly.
So who benefits from the settlements? The Multnomah Group has compiled a list. These settlements are about more than money, often requiring changes in the administration of the plan. But if you want to understand what is going on, follow the money!
To read more about the study click here.
For more about the 401 (k) Shield click here.
Or contact:
David M. Wheat, ChFC. AIF
Axiom Advisors, LLC.
[email protected]
800.769.1287 ext. 103
www.axiom123.com
Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Financial Planning Services offered through Axiom Advisors, LLC, a Registered Investment Advisor. Axiom Advisors, LLC and Cambridge Investment Research, Inc. are not affiliated.