John Bunch shares a story about an elder financial scam that hit close to home and talks about how listeners can help protect their parents.
Radio Show Highlights
Beware of Fake IRS Notices
Avoiding 401(k) Mistakes
Protecting Your Parents from Scams
In this week’s show, John Bunch, president of Financial Engines Advisors L.L.C., shares a personal story about an elder financial scam that affected a close family friend and talks about how listeners can help protect their parents and other loved ones from making a similar misstep.
Also in this week’s show:
Phil Reiff, a Financial Engines 401(k) expert, discusses the consequences of making mistakes with your 401(k) such as taking a loan from the account or cashing it out entirely.
Bob and Andy talk about a new scam that leads people to believe they owe the IRS money – and how to spot a real IRS notice from a fake one.
Download or subscribe:
Listen now or download a podcast of the latest shows.
*Methodology: InvestmentNews qualified 1,719 firms headquartered in the United States based on data reported on Form ADV to the Securities and Exchange Commission as of May 1, 2016. To qualify, firms must have met the following criteria: (1) latest ADV filing date is either on or after January 1, 2016, (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.
*This is a partial listing of Financial Engines’ customers as of December 31, 2016. These companies have consented to disclosure of their relationships with Financial Engines. This does not constitute an endorsement or approval of the advisory service provided. Third-party marks appearing on this site are the property of their respective owners.