Deals & People September 6, 2012

ExpertPlan and RedHawk Form Partnership

Redhawk Wealth Advisors Inc. selected ExpertPlan to provide recordkeeping and administrative services for the advisory firm’s qualified retirement plan business.
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Under the strategic alliance, ExpertPlan will design and host a fully branded, private-label retirement suite of products and plan designs that use Redhawk Wealth Advisors’ custom investment-managed portfolios. The proprietary portfolios will consist of exchange-traded funds (ETFs), with clearing, settlement and custodial services from TD Ameritrade.

Redhawk chose ExpertPlan because of their willingness to work with clients of all sizes, according to Adrienne Rivett, manager of adviser services at Redhawk. “Their innovative private-label design will maximize our ability to market our product to the masses,” Rivett said.

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“We are extremely proud to have been selected by Redhawk Wealth Advisors to provide them with the retirement plan tools, resources and support to help them capitalize on increasing their retirement business,” said Ross Brown, senior vice president of sales and relationship Management at ExpertPlan.

ExpertPlan, in Princeton, New Jersey, is a provider of private-label recordkeeping plan solutions. Minneapolis-based Redhawk Wealth Advisors is a registered investment advisory firm

 

Data & Research September 6, 2012

Canadians Report Not Saving Enough for Retirement

Forty percent of Canadians surveyed said they now expect to retire later than they previously planned.
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According to the third annual survey of employees conducted by the Canadian Payroll Association (CPA), the primary reason (cited by 40%) was “I’m not saving enough money for retirement.”  

Nearly three-quarters of employees (74%) said they have saved less than one-quarter of their retirement savings goal. “This is particularly troubling when you realize that 71% of the respondents are over the age of 35, with the bulk in their main saving years between 35 and 54,” said Dianne Winsor, chairman of the CPA.  

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The survey also found half (50%) of employees across the country reported they are saving 5% or less of their net pay. This is well below the 10% of net pay that financial planning experts generally recommend as a retirement savings rate.  

While 60% said they are trying to be better savers, more than half of the individuals reported that they have been unable to do so. The remaining 40% of Canadians said they were not even trying to save more.  

Most Canadians do understand what they could be doing to improve their financial situation and meet their retirement goals. Ranked in order of importance, respondents thought they should be spending less (32%), paying off credit card debt (22%), reducing their mortgage (19%), and contributing more to their retirement savings (14%).  

Between July 6 and August 2, 2011, 2,070 employees responded to the online survey.

 

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