Are CITs Right for Your 401(k)? Real-World Answers

Broadcast Retirement Network's Jeffrey Snyder discusses what to see erstwhile utilizing CITs successful your 401k program with Innovest Portfolio Solution's Rick Rodgers, AIF.

Jeffrey Snyder, Broadcast Retirement Network

Joining maine present is Rick Rodgers. He's a main and advisor with Innovest Portfolio Solutions. Rick, it's ever large to spot you.

Thanks for joining america this morning.

Rick Rodgers, AIF, Innovest Portfolio Solutions

Great to spot you, Jeff. Good to beryllium with you. Thanks for the invite.

Jeffrey Snyder, Broadcast Retirement Network

Absolutely, and arsenic a chap musician, I'm ever pleased erstwhile we person guests connected that are musicians. I emotion the guitars decently placed successful your background, and those are existent guitars, are they not?

Rick Rodgers, AIF, Innovest Portfolio Solutions

That's 1 of the astir communal questions I get erstwhile I'm connected a Zoom meeting, and so they are. And past the 2nd 1 is, yes, I bash play them.

Jeffrey Snyder, Broadcast Retirement Network

Okay, well, yeah, and I've seen you really play. So with that established, Rick, we're gonna speech astir corporate concern trust. These are a large taxable successful the status and fiscal services industry, getting a batch of traction.

You and Innovest are a precise well-known, I telephone it a consulting firm, but you're an concern consulting firm. You bash a batch of owed diligence connected these benignant of products, projects, products. Let maine inquire you, what's your relation successful reviewing and evaluating status program products for clients?

Rick Rodgers, AIF, Innovest Portfolio Solutions

Yeah, that's a bully spot to start. I'm a subordinate of Innovest's concern committee, and our committee reviews, debates, discusses each strategy that's presented to america anterior to approving it for proposal to a client, oregon successful the illustration of a 338 statement anterior to putting it into a client's portfolio. And I deliberation the easiest mode to reply that question is to say, my relation connected the committee is to guarantee that it makes consciousness to usage the structure.

I mean, astir of our clients are looking to spell into a CIT due to the fact that determination is simply a little operating cost, and truthful they're looking to get higher returns. So with that being the objective, we're seeking to guarantee that, successful fact, it does marque sense.

Jeffrey Snyder, Broadcast Retirement Network

Yeah, and you serve, I'm gonna paraphrase, but you service arsenic a fiduciary connected behalf of your clients. So either a 321 oregon a 338, those are the communal fiduciary responsibilities nether ERISA. So there's been a batch of speech successful the industry, Rick, and 1 of the reasons wherefore we're doing this amusement is there's been a batch of speech astir collecting concern trusts.