How to Minimize Your Liability for New SECURE 2.0 Investors and Sponsors As many retirement plan advisors know, the retirement landscape is changing. Recent Setting Every Community Up for Retirement Enhancement Act revisions (SECURE 2.0) are designed to spur more employers to create plans and more workers to participate in them. The likely result over [...]
Read MoreHow Advisors Meet Their Custodian Requirements With Lockton Affinity Advisor Sometime in the last year or so, you probably received notice that your custodian was instituting new insurance requirements. Today, more and more financial professionals are meeting their custodian requirements with coverage from Lockton Affinity Advisor. Here’s the story of how one advisor went from [...]
Read MoreHow Economic Downturns Can Lead to More Claims While experts continue to debate whether the economy has officially entered a recession, signs point to increasing financial uncertainty for many. Inflation is up, layoffs are mounting and markets are volatile. In short, it’s a recipe for claims. Official recession or not, economic downturns of any sort [...]
Read MoreCybercrime Terminology to Know As an advisor, not knowing or understanding the cybercrime risks your business faces puts you at a disadvantage against cyber criminals who know exactly what they're doing. But wrapping your head around the lingo used to talk about the topic can be tricky. Cybercrime terminology is complex and it's constantly changing [...]
Read More4 Ways to Minimize the Risk of SECURE 2.0 Changes After a long and windy road, the SECURE 2.0 Act has become law. The new legislation, which updates the original Setting Every Community Up for Retirement Enhancement Act of 2019, contains a number of changes impacting recordkeepers. SECURE 2.0 changes represent an opportunity for your [...]
Read MoreReport: Finance Is One of the Most Targeted Industries by Cyber Criminals Financial services businesses have been a target for criminals since the days of the Pony Express. Now, modern businesses face a serious threat from cyber criminals seeking to steal funds from bank accounts, real estate closings, court settlements and retirement funds. A new [...]
Read MoreOne Law Firm Filed 11 Copycat Lawsuits Against Advisors of 401(k) Plans Last Year Financial advisors have been plagued by 401(k) lawsuits in recent years. So frequent are new suits in the headlines, that it may seem like every law firm in the country has a case pending against an advisor. Yet in reality, many [...]
Read MoreFighting Cyber Fraud: 10 Questions Lawmakers Are Asking About Retirement System Cybersecurity Enough high-profile cyber incidents involving retirement plans have occurred that lawmakers have begun asking questions. The Comptroller General of the U.S. Government Accountability Office has been asked by members of Congress to examine the issue and answer 10 crucial questions to help guide [...]
Read MoreFinancial Execs May Be Overconfident About Cyber Security, Survey Shows Cyber security is crucial for today’s financial services professionals — at this point, almost everyone understands that. Yet some firms may still be underprepared for serious cyber attacks and the damage they can cause. A new survey of financial executives found that many overestimate the [...]
Read MoreFighting Cyber Fraud: Two Case Studies of Claims Against Recordkeepers “Did you hear? Another recordkeeper was sued for cyber fraud!” Recordkeepers have heard this line a lot lately. But around the watercooler, such stories often blur together. The details get lost, and that can make it harder for registered investment advisors to understand the risk [...]
Read More