Did you happen to catch the Frontline documentary on PBS on April 23, 2013? “The Retirement Gamble” was an hour-long, no-holds barred look at the financial services industry and how, specifically, the behavior of traditional Wall Street brokerage firms and non-fiduciary “financial planners” has contributed to the erosion of retirement savings for millions of Americans.
If you missed the program, I highly encourage you to see it and, in fact, to share it with your friends, family and neighbors. It can be viewed in its entirety via the PBS website: The Retirement Gamble. The documentary is composed of five sections and you can click on any of the sections to watch each. The sections are as follows:
- The Retirement Crisis (9:15)
- “It Used to be Much Easier” (11:37)
- “The Tyranny” of Fees (13:21)
- Are Index Funds the Answer? (6:02)
- Advisers or Salesmen? (13:26)
For me, watching this program reinforced just how different our approach is in the 401k marketplace. One thing the Frontline documentary made very clear is that few company retirement plans work with conflict-free advisors who utilize low-cost, passive investments and serve as a fiduciary, putting the client’s interests ahead of their own.
After you have the chance to watch the program, recommend it to your friends, family and colleagues. We would also welcome the opportunity to explore how we can work together to help you and your company avoid “the retirement gamble.”
(Note: You should also review the following article, Do You Know the Health of Your 401(k)?)