May Luncheon: 401k Investors: Connecting Math, Emotion and Choices
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401k Investors: Connecting Math, Emotion and Choices

5/17/2017
When: Wednesday, May 17, 2017
11:30 AM
Where: Metropolitan Ballroom and Clubroom
5418 Wayzata Blvd
Minneapolis, Minnesota  55418
United States


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401k Investors: Connecting Math, Emotion and Choices

 

Avoiding emotional decisions, especially when investing through 401k plans, is the key to successfully saving for retirement. Understanding the power of saving early and compound returns is much more likely to matter than any potential return. Cost is another element that can be impacted. In the current legal environment, monitoring the effectiveness of the retirement plan, especially its cost is essential.

The Learning Objectives for this presentation are:
1) Demonstrate the math showing that how much saved and how long one saves far outweighs annual returns: the power of compounding.
2) Explain a useful tool, based upon behavioral science, that helps people plan and commit, which may act as a foundation for good investment choices, against volatile securities markets.
3) Decode revenue sharing (or “rebate”) practices, sharing with managers and savers how to break retirement plan cost into three components: a) investment expense b) administrative cost and c) the cost of advice.
4) Summarize the Department of Labor’s fiduciary rules, which are set to take effect in April 2017, especially when coupled with the US Supreme Court’s decision in May 2015: Tibble v. Edison International.

 

Speaker:


Michael Smoots, JD

I joined Lawing Financial to provide business owners with legal expertise as part of the Qualified Plan Advisors team. My experience in the retirement industry allows me to share a unique perspective with clients, on questions ranging from investment options and their cost to competitive analysis and plan design. In this highly regulated field, I find success in presenting creative ways to help plan sponsors lower fees and in developing insights that educate 401(k) investors. I provided consulting for ERISA and retirement plans to several law firm clients, with another investment advisor, for the two years prior to joining Lawing.

From 2006 to 2013, I was a Vice President with a large record keeper, which served over 1 million participants and administered $100+ billion in retirement plan assets. I negotiated agreements with asset managers and helped review investments for total cost, as well as their rebate–used to offset administrative expenses. As a member of the finance team, I reviewed hundreds of retirement plans, ranging in size from $10 million to $20 billion, relative to market price, profitability and operational efficiency.

I currently hold the FINRA Series 7, 63 and 65 registrations and am licensed to practice law in Kansas and in Missouri. I graduated from Kansas State University in 1992 (B.S.) and from the University of Kansas, School of Law in 1997 (J.D.).

HR Practioners Pricing:
$30 - Members
$50 - Non-members


Affiliate Pricing:
$40 - Members
$60 - Non-members


Schedule:
11:30am - 11:45am - Networking
11:45am - 12:45pm - Lunch and Presentation


The first 40 people to register will receive a copy of
Thinking Smarter by Shlomo Benartzi