What is the Societal Problem that our eLearning Digital Retirement Solution addresses?
The population of the United States is not prepared to participate in the management of their retirement savings. Hence, Americans are investing in inappropriate and poorly performing investments and are receiving poor and unnecessarily expensive investment advice.
Cumulatively, this reduces the populations’ retirement savings – and subsequent spending by the retired population – increasing the burden on their children and on society as a whole. This problem has been the result; and is increasing for two reasons: 1) The shift from defined benefit pensions to defined contribution plans. 2) Regulatory oversight of financial intermediaries has not kept pace with the large and expanding volumes of qualified plan investments.
How Does Check the Ticker SBC address this societal issue?
Check the Ticker provides investor education that is designed to train recipients on how to evaluate financial instruments in a flexible, efficient and cost effective manner. Check the Ticker provides employers with a new and better option to fulfill their education requirements when they offer a 401(k) and 403(b) savings plan. With no funding conflicts, Check the Ticker SBC addresses this pressing societal benefit.
✓ theTicker research supports the fact that with the proper tools and transparency, every retirement plan participant and IRA investor is capable of making an informed choice, saving the selling and distribution costs that enrich financial services firms and detract from retirement investor returns.
Over the past three decades there has been a massive advertising assault, subliminal messaging and conflicted “financial education” provided by Wall Street, principally in the workplace, that has created a behavioral state of “learned helplessness” where individuals become less engaged and more and more dependent on others to control their financial future.
Inappropriate Department of Labor policies pushed by Wall Street, false advertising4 and a lax regulatory enforcement have created a de facto monopolistic 401k environment overwhelming retirement investors.
High fee, poorly performing asset management schemes have been allowed to thrive, in concert with a “captured” Department of Labor and Securities and Exchange Commission. Security law breaches and recidivism is rampant due to mandatory arbitration in every brokerage account agreement where Wall Street writes the rules and chooses to not enforce the rules Congress has written. Behind a cloak of secrecy overseen by FINRA, the financial services industry self-regulator, rampant breaches of security breaches against retirement investors thrive.
IRA accounts, that now hold over $7.5 billion, due to IRS and Department of Labor rules, do not permit a “private right of action”, meaning IRA investors who have been harmed, cannot go to the State and Federal courts for relief. FINRA is immune to the Freedom of Information Act, so the unconscionable “takings” of American’s retirement savings remains unknown to most Americans. Further, when securities laws are broken, IRA and SEP IRA investors have no legal avenue to recoup their losses.
The most expedient cost-effective solution is to provide another alternative to retirement investors.
- ✓ theTicker provides the first service to empower retirement savers to save without the conflicts and without mandatory arbitration.
- ✓ theTicker provides the e-Learning modules to empower every retirement investor to go direct. Eliminate the clog in the wheel. Eliminate the onerous taxpayer costs to regulate the Ponzi schemes, the rogue “advisors”.
- Go direct to the top US retirement professional money managers, SEC registered Investment Companies, who have earned the right to call themselves fiduciaries, under the Investment Company Act of 1940 and the Investment Advisers Act of 1940.
- Unlike today’s intermediaries, including the evolving “robo advisor”, who are not SEC registered investment companies, the top US retirement money managers provide measurable data, including audited performance, against an accepted benchmark, portfolio turnover data, including actual annual costs, dividend yields in a manner approved by the SEC, written objectives and a mandatory filing of holdings.
- Brokers, “advisors”, CFP’s, “robo advisors” do not file this data that is mandatory for any retirement investor to make an informed choice. This permits the rampant conflicts of interest, Ponzi schemes, and senior fraud that deliver associated excessive taxpayer costs to fund regulatory attempts to reign in this ongoing fraud, conflicts of interest and breach of securities laws.