HR provides info on retirement investiment adviser services
University of Louisville employees have the option of using a registered investment adviser to manage their university retirement account investments.
Human Resources will be host to a Retirement Planning Investment Adviser Forum Sept. 22, at 10 a.m., noon and 2 p.m. This event will take place in the Human Resources Department, 1980 Arthur St.
Representatives from Fidelity, TIAA-CREF will be available to discuss their free one-on-one consulting services. HR also will have several registered investment advisers available to discuss their services. Neither UofL, TIAA-CREF, nor Fidelity endorse individual registered iInvestment advisers, however, we want to provide access for our employees to the services they offer.
What is a registered investment adviser (RIA)?
An RIA is an individual or firm registered with the Securities and Exchange Commission (SEC) and or state licensing authority as a provider of professional financial management services.
What are the benefits of an RIA?
Investment experts agree that employees often take more investment risk than necessary. An RIA can guide you through the confusion and offer a clear understanding of what employees need to do to attain their financial goals.
The key to choosing an RIA firm should be based on the type of relationship that is right for you. This important decision may be based on both simple objective criteria and your own personal preferences.
Take the right steps as you choose a registered investment adviser.
A simple process can make selecting an RIA firm easier. As you are deciding what is right for you, consider the following steps:
Step 1: Know your situation. Get started with information you already know, like your income, savings and amount you want to invest. Then focus on your short and long term goals and upcoming financial events such as retirement, job change, marriage, a new child or divorce.
Step 2: Understand and prioritize what's important. There are two ways to evaluate investment firms: simple objective criteria and your own personal preferences. Understand the facts and figures of costs, products and credentials and knowing what is important to you will lead you to the right fit.
Step 3: Research your options. Make a short list of firms by talking to friends, reading reviews in finance magazines and surfing the websites of your potential choices.
Step 4: Make a decision. A good way to narrow your choices and make a decision is to set up an appointment to talk or meet with representatives from a firm. If the process is difficult or confusing, consider re-evaluating your choice. While comparing facts and figures might make it easier for to weigh your options, choosing the right investment firm is ultimately a personal choice.
How much should I expect to pay for RIA services? And how do I pay for my adviser?
Costs will vary from firm to firm, so it is important to know about fee structure, commissions and how you will pay to receive advice and guidance. Fidelity and TIAA-CREF Investments allow registered investment advisers to be paid directly from your University of Louisville 403(b) plan account. You will need to contact Fidelity and or TIAA-CREF for the Registered Investment Adviser Authorization and Indemnification Form.
Will Fidelity or TIAA-CREF provide me with an RIA?
No. Fidelity and TIAA-CREF's role is to provide the opportunity for those of you who already have a relationship with an adviser or are looking to enter into a relationship with one for advice on your UofL retirement plan account.
Do I have to use an adviser for help with my UofL retirement plan?
No. Selecting an adviser is completely your decision. Associates from Fidelity and TIAA-CREF will still continue to provide free on-site one-on-one consultations and reviews on a monthly basis to assist you with your retirement planning needs. UofL is offering this additional resource to help you meet your overall financial goals and retirement needs.
If you would like more information about this service, please contact Fidelity at 1-800-343-0860 or TIAA-CREF at 1-800-842-2776.