Retirement - Registered Investment Advisors
UK employees now may utilize Registered Investment Advisers to manage their UK retirement account investments. With recent changes to federal guidelines governing employer-based retirement accounts, the University has worked with Fidelity Investments and TIAA-CREF to offer this additional option for our employees.
What is a Registered Investment Advisor?
A Registered Investment Advisor (RIA) is a person or firm registered with the Securities and Exchange Commission (SEC) and/or a state licensing authority as a provider of professional financial management services.
What are the benefits of a Registered Investment Advisor?
Many experts predict that you will need 70-100% of your annual pre-retirement income each year to meet your expenses in retirement. Registered Investment Advisor can provide the help you’ll need to ensure that you are appropriately managing your workplace savings account and achieving your retirement goals. An RIA can help you:
• Set achievable financial and personal goals
• Provide objective financial advice on your investments
• Assess your current financial situation by taking a comprehensive look at your assets, liabilities, income, insurance, taxes and investment and estate planning.
• Develop a realistic and comprehensive plan to help you reach your retirement and other financial goals
• Provide on-going monitoring of your savings, investment selections and asset allocation for all of your accounts
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 advisor or are looking to enter into a relationship with one for advice on their University of Kentucky retirement plan.
How do I use my 403(b) account to pay for my advisor?
You can pay for this service by signing the Fidelity and/or TIAA-CREF Investments Registered Investment Advisor Authorization and Indemnification Form. This form allows you to give Fidelity and TIAA-CREF permission to deduct advisor fees directly from your 403(b) account. To obtain a copy of the form, please contact Fidelity at 1-888-766-6815 and TIAA-CREF at 1-888-841-0318.
How do I get my advisor registered?
To get your advisor registered, fill out the Fidelity and/or TIAA-CREF Registered Investment Advisor Authorization and Indemnification Form. To obtain a copy of the form, please contact Fidelity at 1-888-766-6815 and TIAA-CREF at 1-888-841-0318.
Do I have to use an advisor for help with my University of Kentucky Retirement Plan?
No. Selecting an advisor 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. The University of Kentucky is offering this additional resource to help you meet your overall retirement needs. If you would like more information about this service please contact Fidelity at 1-888-766-6815 and TIAA-CREF at 1-888-841-0318.
