Beware of Outside Financial Advisors

Outside individuals and companies are very eager to provide financial advice to Indiana University employees and retirees. Some companies are so eager to generate business that they broadcast e-mail solicitations and hold meetings in public campus facilities. These solicitations sometimes make it sound like the outside entity is familiar with the University’s retirement plans and/or is sponsored by Indiana University. In fact, neither of these claims may be true. Employees who receive solicitations from outside entities regarding financial planning and retirement plan investments are advised of the following:

• Indiana University does not sponsor or endorse any outside financial advisor.
• Indiana University has no knowledge of the outside entities’ credentials or business status.
• Fidelity Investments and TIAA-CREF are investment companies authorized by Indiana University to hold individual retirement planning and investment counseling sessions with employees and retirees.
• Indiana University does not discuss the provisions of the University’s retirement plans with outside entities, except for Fidelity Investments and TIAA-CREF.
• Indiana University is aware of several misleading and inaccurate statements made by outside financial advisors.
• The University does not warrant, guarantee, or otherwise certify the accuracy or outcome of transactions by outside financial advisors.

Next article: New UHRS Web Site