60% of Americans have only a moderate to low financial literacy – find out
here what steps we can take to change that.
Radio Show Highlights
Catching Up With Retirement Savings
Understanding Retirement Plans
Fixing Financial Illiteracy
Family and Finances
In this week’s show, Larry Raffone, president and chief executive officer of Financial Engines, provides insight into the recent Financial
Industry Regulatory Authority study that found that 60% of Americans have only a moderate to low financial literacy – and what steps we can take to change that.
Also in this week’s show:
Phil Reiff, director of relationship management at Financial Engines, explains the difference between a 401(k) and an
IRA and why 401(k)s tend to be more popular.
Bob’s youngest daughter is getting married this weekend, so he uses the occasion to talk about managing discussions and
setting expectations with family about money.
Bob talks with Andy about how to catch up on retirement savings if you have a late start.
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*Methodology: InvestmentNews qualified 2,172 firms headquartered in the United States based on data reported on Form ADV to the Securities and Exchange Commission as of May 1, 2018. To qualify, firms must have met the following criteria: (1) latest ADV filing date is either on or after January 1, 2017, (2) total AUM is at least $100M, (3) does not have employees who are registered representatives of a broker-dealer, (4) provided investment advisory services to clients during its most recently completed fiscal year, (5) no more than 50% of amount of regulatory assets under management is attributable to pooled investment vehicles (other than investment companies), (6) no more than 25% of amount of regulatory assets under management is attributable to pension and profit-sharing plans (but not the plan participants), (7) no more than 25% of amount of regulatory assets under management is attributable to corporations or other businesses, (8) does not receive commissions, (9) provides financial planning services, (10) is not actively engaged in business as a broker-dealer (registered or unregistered), (11) is not actively engaged in business as a registered representative of a broker-dealer, (12) has neither a related person who is a broker-dealer/municipal securities dealer/government securities broker or dealer (registered or unregistered) not one who is an insurance company or agency.
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