Active management, exorbitant hidden costs, participant choice and investor behavior (treating the 401(k) like a casino) have created confusion in the market and frustration among workers who are now dependent on their 401(k)’s for their future.
(PRWEB) September 30, 2011
Bryan Binkholder, The Financial Coach, and Jim Winkelmann RF™co-founders of Blue Ocean Portfolios Llc, a financial investment advisory firm headquartered in Chesterfield, Missouri announce the release of their latest book, entitled, 401(k) Conspiracy: How Companies & Employees are Being Robbed by Wall Street While the Government Looks the Other Way.
Jim and Bryan work together as catalysts for change on the financial services scene with their revolutionary approach to investing and retirement planning. They spread their message through a weekly, nationally syndicated radio broadcast, The Financial Coach Show, along with numerous books, videos, and audio series on the topics of retirement, investing and financial planning. Most recently, Bryan Binkholder was a contributing author for the book, Mastering the Art of Success with Jack Canfield & Mark Victor Hansen, authors of Chicken Soup for the Soul.
"401(k) Conspiracy," says Bryan Binkholder, "is a call to change and a call for employers to wake up to the ways in which Wall Street is ripping off workers and their future retirement income. Active management, exorbitant hidden costs, participant choice and investor behavior (treating the 401(k) like a casino) have created confusion in the market and frustration among workers who are now dependent on their 401(k)’s for their future. Jim and I cover every area of 401(k) plans in this book, including, and often most importantly, we cover the traps, we clearly outline what typically goes wrong, and expose the abuses occurring.”
Jim Winkelmann added, "Today's plan sponsors have greater legal responsibility and yet less information than ever before. We created this book as a guide to help employers and plan sponsors navigate through confusing issues, such as biased reports and excessive fees that drag down returns, while providing a basic understanding of investments and financial markets. Equipped with the step-by-step, straightforward information provided in 401(k) Conspiracy, small businesses will be empowered to cut through the severely flawed 401(k) plans currently being pushed by the big brokerage houses while examining realistic solutions to help plan participants receive the best possible returns on their investment. Doesn’t every American worker deserve the best odds of achieving a comfortable retirement?”
"The real solution we propose," notes Bryan, "is a return to the Defined Benefit Plan Design while utilizing the 401(k) rules. This new design, called the Blue Ocean Trustee Directed 401(k) Plan™ allows everyone, from the bottle washer to the president of the company, to share the same portfolio design, utilizing low cost index funds and broad diversification. By focusing on one factor we can control, which is costs, plan participants can begin the race 1-2% ahead. Subtract conflicts of interest (which Wall Street routinely provides), and investor behavior, which DALBAR's Quantitative Analysis proves year after year is run largely on emotion instead of proven, long-term buy-and-hold strategies, and investors can add another 5% to expected returns."
401(k) Conspiracy: How Companies & Employees are Being Robbed by Wall Street While the Government Looks the Other Way is currently available on The Financial Coach website, and is scheduled to be released in print this October.