Our Writings

June 2015 Monthly Recap

We look back at May and are honored to celebrate Memorial Day. A day that we can properly acknowledge those who fought for our freedoms and paid the ultimate sacrifice.

Advisor Fact

Memorial Day is close to Bill’s heart as both he and his wife, Heidi Reid, retired from the United States Army.
We’re fortunate to work with Bill on a daily basis.

A Grand View of the Race

Clint and Jenny will once again be at the heart of Tour de Grandview with their house on First Avenue.
If you haven’t been, it’s one of the city’s coolest events. Stop by and say hi!

Supreme Court Watch

A landmark case was announced in mid-May which should give pause to 401(k) Plan Sponsors. The Supreme Court unanimously decided in favor of plan participants in the Tibble v. Edison case; who claimed that their employer was not prudently managing their investments. The company claimed, that while less expensive share classes were available at a later time, they had in fact chosen the best option when the menu was initially established. The County’s highest court did not agree.

Justice Stephen Breyer delivered the opinion for the court and wrote:
“ERISA’s fiduciary duty is derived from the common law of trusts, which provides that a trustee has a continuing duty–separate and apart from the duty to exercise prudence in selecting investments at the outset—to monitor, and remove imprudent, trust investments”.

If you haven’t already, make sure your plan has a rigorous and systematic process for monitoring funds within your 401(k) and other ERISA-based plans. Employees have clearly demonstrated their ability within the judicial system to hold trustees and plan fiduciaries accountable for their duties. Contact us if you would like a plan review to put in your fiduciary file.


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Self-Directed IRAs

Unlock a little bit of tax and investment magic. (More)

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