Watch BidMoni Demo FiduciaryShield at FinovateFall 2019

FinovateFall 2019 was held in New York City from September 23-25.  Finovate showcases the top tech innovations and provides a unique insight into the future of the fintech industry.

BidMoni was selected as a product demonstrator for FinovateFall 2019 to demonstrate the many ways FiduciaryShield is changing how advisors engage the 401(k) market.

CEO Stephen Daigle provided a live demonstration of FiduciaryShield within the 7-minute Finovate format.

Click here to view the entire 7 minute demo!

2 Cool Fintech Tools at FinovateFall

2 Cool Fintech Tools at FinovateFall

Startups presented a souped-up platform for retirement plan advisors and a family budgeting tool for financial services firms to use with clients.

Landmark Settlement in the Longest Running Erisa Lawsuit

ABB, Workers Get Early Approval for $55M 401(k) Settlement

Posted April 3, 2019, 1:08 PM
Landmark settlement in the longest running Erisa lawsuit, what were the conclusions:
  • Recordkeeping fees were excessive causing losses to participants (failure to bid and monitor service providers).
  • The plan replaced funds with proprietary, underperforming funds offered by the recordkeeper.
  • Indirect revenue received from funds must be paid back to plan participants.

 

This creates a foundation for breaches and penalties moving forward. Advisors and firms are going to be forced to change their way of doing business.

 

Click here to read the full story.