Fiduciary News
As you know, Carpenter Claydon Advisors has recently started a newsletter focusing on Wealth Management issues and information. We are pleased to announce that, as of this month, we are starting a newsletter focused on Fiduciary issues and information.
The purpose of these newsletters is to highlight information and news that you may not have seen, and to stimulate some thoughts that may help you in your daily responsibilities.
As you are probably aware, there are different types of fiduciaries including ERISA fiduciaries as well as personal trust fiduciaries. We will continuously strive to deliver relevant information and news on all the different types of fiduciaries, enabling you to pick and choose that which is most important to you and your needs.
This Fiduciary newsletter will come to you every other month, and we hope that you will find the information helpful.
The first article is a fundamental explanation of who a fiduciary is, what their responsibilities are, and what their best practices should be. Whether they are ERISA fiduciaries or personal trust fiduciaries. Additionally, we bring you an article on how to avoid a key Fiduciary trap, and finally an article on taking the smart approach to portfolio construction.
Also, keep in mind that we are continuously uploading new and informative articles to our website www.CCAWealth.com, and encourage you to take a moment and check them out.
We are dedicated to the support of fiduciaries and are continuing to keep up with the fast changing fiduciary enviroment through our accreditation and education through the Center of Fiduciary Studies. As always, we will do our part to make sure we are passing along pertinent news and information.
If you’d like to discuss your current retirement program, or create a new plan, please don’t hesitate to give us a call.
See you next month.
Carpenter Claydon Advisors, Inc.
Latest News
Meeting Your Fiduciary Responsibilities - By the U.S. Department of Labor
Offering a retirement plan can be one of the most challenging, yet rewarding, decisions an employer can make. The employees participating in the plan, their beneficiaries, and the employer benefit when a retirement plan is in place. Administering a plan and managing its assets, however, require certain actions and involve specific responsibilities.
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Taking Charge, Avoiding a fiduciary trap.
The popular thinking about 401(k) investments seems to be that, if fiduciaries offer a well-selected lineup of mutual funds, their Employee Retirement Income Security Act (ERISA) obligations are satisfied. However, that is changing and, if fiduciaries aren't paying attention, they could fall into a trap for the unwary.
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The Cake Mix
Most cakes are made from flour, milk, eggs, sugar, butter, bicarbonate of soda and something to add flavor. To make a cake that tasted nice, you could try tasting the ingredients and then use them in proportion to how nice they tasted individually … but you’d likely finish up with a very strange cake. Yet, judging by industry discussion/debate about which is the best performing asset class, at least some take this approach to portfolio construction.
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Fiduciary Fast Facts
The following is an outline of Personal Trust Fiduciary Duties and Responsibilities, as recognized by the State of Florida.
Fiduciary Duties
Fiduciary Responsibilities
get outline =>Did You Know…
Traveling and Traffic Jams
The amount of time that people spend on travel has been consistent at 1,1 hours per person per day in all societies. The average distance traveled is 12 000 km (7,400 miles) per year. In total, the world population travels more than 23 trillion km (16.6 trillion miles) per year, 53% of which is by car, 26% by bus, 9% by rail, 9% by high-speed transport such as airplanes, and 3% by bicycle, boat and other means.
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