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CCC Financial Advisor Information
ALERT!!
Effective 08/08/2008, no changes will be made to CCC’s legacy
website, now with Internet address www.ncompliancelegacy.com. Henceforth, www.ncompliance.com
goes directly to CCC's new, dynamic, database supported website.
For many months now, CCC has been developing and testing a new, dynamic, database-supported website,
which now resides at www.ncompliance.com, while at the same time maintaining this website, which is
now our legacy website (www.ncompliancelegacy.com). Development of the new website was essential to
allow CCC to provide dedicated sections of its website to more than 50 new clients accumulated since
publication of the Final 403(b) Regulations on July 23, 2007. We chose completion of the Plan Document
System on the new website as the appropriate time to migrate from the legacy website, even though
considerable work remains to be done. Specifically, we will be working with Vendors through the end
of calendar year 2008 to incorporate updated Vendor information into the new website. Moreover, 457(b)
Deferred Compensation Plan (DCP) information remains only on this legacy website, but those CCC clients
for which we are managing their 457(b) Plans may continue to refer to this legacy website until the full
migration has been accomplished.
We are very proud of our new website, especially the Plan Document System and the Content Management
System (CMS), which allows Client Employers and Vendors to manage the content of their own sections of
the website. We hope you share our enthusiasm and will create links form your own websites to your
dedicated sections of the CCC website. Doing so will provide everything your employees need to know
about their 403(b) Program.
Do I Need A Financial Advisor?
The financial situation and goals of you and your family are highly individualized,
as are your basic financial skills and experiences. You may be very comfortable
making all of your financial decisions on your own, but most people lack
many of the skills and much of the knowledge required to appropriately
manage their financial planning. It's up to you to decide whether or not
you should seek the services of a professional financial advisor. If you
should decide to do so, this web page provides information that should
be helpful to you in your search for appropriate and qualified professionals
for this purpose.
One large insurance and annuity company advertises that it "manages
money for people who have other things to do." Some investment companies
offer enhanced products that include investment and financial advice,
usually for an extra fee. Check out some of the products and services
offered by companies on the authorized vendors list for your District
to see if they offer such investment advice to clients. The more common
situation is for employees to secure the services of a financial advisor.
Titles Used By Financial Advisors
Individuals and associated organizations that provide financial advice
to consumers adopt various descriptive titles for the work that they do.
Among the general financial titles commonly used are the following:
- Financial Advisors
- Financial Analysts
- Financial Consultants
- Fincial Counselors
- Financial Planners
- Financial Specialists
Sometimes professional accountants, attorneys, and licensed professionals
provide advice in specialized areas of financial planning. Examples are:
- Certified Public Accountants
- Estate Planning Attorneys
- Tax Attorneys
Other times individuals and/or organizations specialize in very specific
areas of financial planning: Examples are:
- TSA/DCP Specialists
- Long-Term Care Insurance Specialists
Registered Investment Advisors
Quoting from the Ric Edleman Artical under the How Do I Choose
A Financial Advisor? heading below: "Any person who
provides financial planning services for compensation must be registered
with the Securities and Exchange Commission or their state regulatory
authority. Stockbrokers, insurance agents, attorneys and accountants are
exempt, provided that their investment advisory services are merely incidental
to their work. All other planners must register as investment advisors.
Therefore, do not work with any planner who is not registered."
Advisor Fees
Please review the Ric Edleman Artical under the How Do I Choose
A Financial Advisor? heading below for details about the
various ways financial advisors/planners are paid (commission-only, fee-only,
fees plus commissions, fee offset, assets under management, etc.).
Certifications/Credentials/Designations
As described in the Ric Edleman Artical under the How Do I
Choose A Financial Advisor? heading below, the following
are the most common designations you are likely to come across:
- CFA - Chartered Financial Analyst
- CFP® - Certified Financial Planner™
- CFS - Certified Fund Specialist
- ChFC - Chartered Financial Consultant
- CLU - Chartered Life Underwriter
- CMFC - Chartered Mutual Fund Counselor
- PFS - Personal Financial Specialist
- QFP - Qualified Financial Planner
- RFC - Registered Financial Consultant
How Do I Choose A Financial Advisor?
It's been said that some people spend more time on choosing an automobile
to purchase than they do on selecting a financial advisor. If that observation
has a ring of truth to it, it may be because people are familiar with
the daily driving experience and the ease of deciding what they want.
In contrast, financial management is a task that, for most people, involves
decisions and considerations that they know little about. They also find
it difficult to assess the qualifications of those who provide financial
services. The following web links provide helpful information about selecting
a financial advisor.
U.S.
Securities and Exchange Commission - Questions
Questions to ask about your investments and to ask the people who sell
investments or provide investment advice.
U.S.
Securities and Exchange Commission - Check Out Brokers and Investment
Advisers
Tips for checking out brokers and investment advisers.
CFP
Board of Standards Article
This article provides a convenient list of ten questions to ask when choosing
a financial planner.
Ric
Edelman Article
Clicking on the "How to Choose a Financial Advisor" link leads
to an article that provides useful information about how financial planners
are paid, industry professional designations, federal and state licenses
required, taboos between you and your planner, tips for interviewing prospective
financial planners, points to ponder, and what to look for in a financial
planner.
Garrett
Planning Network
The Garrett Planning Network Inc. is an international network of independent
financial advisors and planners offering hourly as-needed financial planning
and advice to anyone regardless of income.
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