Definiti LLC’s Post

Did you know spousal RRSPs offer an additional layer of financial empowerment by allowing the lower-income spouse control over some of the couple’s investment assets? I had the pleasure of meeting with Alison MacAlpine and sharing some insights around spousal RRSP strategies, for her article in The Globe and Mail Stay informed and empower your financial decisions 🚀 #PersonalFinance #SpousalRRSPStrategies

Christopher DeAndrea, C(k)P®, CPFA®, AIF®, one of three plan adviser of the year finalists, was asked about the role of the convergence on our practice now and in coming years. Read his thoughts from this PLANADVISER article! https://bit.ly/3Q2ypOw

Over the past two days I have shared the first two routes of defence we took when dealing with Mr A’s complaint. In case you missed them, here’s a recap: 1️⃣ Insistent client 2️⃣ Time barred And the final one… 𝟑. 𝐑𝐞𝐝𝐢𝐫𝐞𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐜𝐨𝐦𝐩𝐥𝐚𝐢𝐧𝐭 𝐭𝐨 𝐭𝐡𝐞 𝐩𝐞𝐧𝐬𝐢𝐨𝐧 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐫 Taking a belt and braces approach, our final defence was that the complaint should be directed to the pension provider operating Mr A’s SIPP. SIPP operators have a duty to conduct appropriate due diligence on investments before they can be held in a SIPP. If you’re curious about the outcome of the investigation, come back tomorrow.

A fiduciary has an obligation to choose a lower cost solution when that is available. This pecuniary obligation is an extension of the duty of loyalty and results in lower costs to 401(K) participants. EF explains in detail:

Should you invest in a Pension? There are many myths surrounding pensions giving conflicting reasons why you might or might not invest in one. Our insight post aims to provide some clarity over why you might wish to consider it. https://lnkd.in/dSrFfDhq

In this week's blog Goldsborough Adviser Will Chapman reflects on our experience in sponsoring a Profession Year candidate - who is now Goldsborough's newest Adviser Momir V.! Momir is a much welcome addition to our Advising team, but he is also part of ensuring the future of financial planning in Australia. #ProfessionalYear #NextGeneration #Futureofadvice #FinancialPlanning

Maximising the Wealth You Created We recognise and respect the time and effort people put into accumulating their wealth, and that money isn’t just about money. We talk to our clients emotionally and sensitively, taking great care to help maximise our clients’ wealth to support their needs. We utilise all our history, resources and industry insight to offer our knowledge for you: https://lnkd.in/eSwqzVgD

Dave Amendola is correct in how PLESA plan infrastructures will be adopted as the regulators didn't do plan sponsors any big favors in the structure of this solution, and the additional option to amend 401k plans to allow up to $1,000 in emergency withdrawals will help some, but emergencies are often much larger than $1,000. And capping PLESA balances to $2,500 withdrawals without penalty is also helpful, but again, does that really meet the needs of employees struggling with financial wellbeing? There are other creative in-plan design solutions and financial guidance solutions available that can help! #PLESA, #financialwellbeing, #emergencysavings

With 2024 in full swing, now is an excellent time to start planning for the year ahead. We’re sharing this handy reference guide highlighting common financial planning facts and figures to help you prepare for 2024. #TheZukiwskyGroup #Wealthplanning #Taxefficiency #Planningfacts

Plan Sponsors - if you are seeing an uptick in Hardship Withdrawals, a couple of considerations: 1. Be sure your current financial wellness program includes a focus on budgeting and education as to how to best save for emergency situations; and 2. Talk to your advisor about the new emergency savings provisions of the SECURE Act 2.0 (pension-linked emergency savings accounts - "PLESAs") to determine whether it would be a good fit for your company. Reach out to me if you want to talk more! #financeeducation #financialwellness #emergencyfund https://lnkd.in/gS2Mkymr