Dan Cassidy FSA, EA, MAAA, CFA, Managing Director of P-Solve Cassidy, was recently quoted on FiduciaryNews.com in the article “Is the Fiduciary Liability of Self-Directed Brokerage Options Too Great for 401k Plan Sponsors?”
This article discussed self-directed retirement plans, and included Dan’s comment that self-directed brokerage accounts are “still not a very common option in plans,” and even when offered, participation in these options is “about 1%.”
Dan elaborated, “The most common reason we see plans add [self-directed brokerage accounts] is to appease a small vocal group – usually an executive or two – who have an outside financial advisor who does not like the options in the plan, and wants to do something else with the executive’s account.”
This same article was also featured in BenefitsLink Retirement Plans Newsletter.
Dan Cassidy leads P-Solve Cassidy – a consulting firm focused on enterprise risk management of retirement plans. Dan authored “A Manager’s Guide to Strategic Retirement Plan Management,” published by Wiley. He was also a contributing author of “Pension Actuary’s Guide to Financial Economics” published by the Society of Actuaries, where he serves on its Board of Directors.
P-Solve Cassidy provides retirement plan services for US-based and multinational plan sponsors in the midmarket. These services include actuarial consulting, investment consulting, plan design studies, and compliance assistance for qualified and nonqualified defined benefit and defined contribution plans.
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