CLS Partners - Employee Benefits Advisors

Recent News

Three ways 401(k) advisers can demonstrate their value to clients

If you're a financial adviser with a narrow focus on retirement plans, you're a rare breed — sort of like the spotted Jaguar shark from the movie “The Life Aquatic.”... Read on

How to gum up your 401(k) without even knowing it

If you've invested only some of your 401(k) savings in a target-date fund, you may be doing it wrong. A recent analysis of about 100 large retirement plans by Aon Hewitt, a human resources consultancy, showed that about half of the 1.5 million participants surveyed who use target-date funds spread their dollars across other investments available to them in their plans... Read on

Nonprofit Employees, Already Underpaid, Face Special Challenges in Retirement

There are untold numbers of crusading Roman Catholics in the annals of world history, but there probably has never been one quite like Mary Brunson. Her cause is the tens of thousands of diocese employees who are saving money in workplace retirement plans. That issue may not have attracted a lot of attention, but it is a serious problem nonetheless. That is because many of the plans not only cost too much, they also invest in companies that do not align with the church’s values... Read on

Using 'brokerage window' to expand 401(k) options

Do you trust your investment prowess enough to put your 401(k) plan on the line? Don Uphouse, chief finance officer of Active Minerals International in Sparks, Md., does. The 59-year-old uses his company's brokerage window as a way to save and invest for retirement. "I'm a seasoned investor, and I enjoy picking my own stocks," said Uphouse, who says his customized portfolio of about 80 blue-chip stocks is up by 10 percent year-to-date, exclusive of his contributions... Read on

Outsourced 401(k) fiduciary services emerge after DOL rule

With the Labor Department's fiduciary rule upping the ante for many 401(k) advisers and their broker-dealers, providers from around the retirement market are looking at ways to defray fiduciary responsibility, and in some cases, possibly replace the adviser altogether.... Read on

John Oliver and Tony Robbins Weigh in on Fiduciary Rule

The conversation about the fiduciary standard is spilling onto Main Street, with comedian John Oliver and self-help guru Tony Robbins joining the voices in support of having brokers hold clients’ interests first. Oliver, the British comedian and protégé of Jon Stewart who went on to start his own HBOshow, “Last Week Tonight with John Oliver,” takes issue in his most recent episode with the fact that financial advisors who sell commission-based products, such as annuities, can currently do so legally. Oliver also points out that even in 401(k) plans, various hidden fees can eat away significantly at available funds. In a segment on his show last Sunday night, Oliver used his own production company’s experience with a 401(k) plan provided by John Hancock (which has since been let go) to demonstrate the compounding effect of such fees. In the segment, Oliver also drew attention to the touted benefits of actively managed funds versus index funds... Read on

John Oliver lambasts U.S. retirement savings system, supports DOL fiduciary rule

Comedian John Oliver criticized the American retirement savings system and expressed bona fide support for the Labor Department's fiduciary rule on his HBO show Sunday night, calling out non-fiduciary brokers, high 401(k) fees and active management using his characteristic satirical brand of comedy.... Read on

Administrative 401(k) mistakes now cost more

The Labor Department has increased the civil monetary penalties assessed to retirement plans, due to an inflation adjustment the government is mandating for federal agencies.... Read on

401(k) plan advisers take more of an interest in record keepers' cyber-security practices

In an era when costly cyberattacks and data breaches are becoming more common, 401(k) plan advisers are beginning to scrutinize data-security practices at record-keeping firms... Read on