Financial Planning

Moving money concerns

DATE | 05/06/24
array(4) { [0]=> array(6) { ["file"]=> string(31) "hand_magnifyng_glass-150x92.jpg" ["width"]=> int(150) ["height"]=> int(92) ["mime-type"]=> string(10) "image/jpeg" ["filesize"]=> int(4304) ["url"]=> string(86) "" } [1]=> array(6) { ["file"]=> string(32) "hand_magnifyng_glass-300x183.jpg" ["width"]=> int(300) ["height"]=> int(183) ["mime-type"]=> string(10) "image/jpeg" ["filesize"]=> int(9079) ["url"]=> string(87) "" } [2]=> array(6) { ["file"]=> string(32) "hand_magnifyng_glass-480x293.jpg" ["width"]=> int(480) ["height"]=> int(293) ["mime-type"]=> string(10) "image/jpeg" ["filesize"]=> int(16704) ["url"]=> string(87) "" } [3]=> array(3) { ["width"]=> int(696) ["height"]=> int(425) ["url"]=> string(79) "" } } ===========array(4) { [0]=> array(10) { ["media_query"]=> int(0) ["url"]=> string(86) "" ["width"]=> int(150) ["next_break"]=> int(150) ["ratio"]=> bool(false) ["acceptable_h"]=> int(0) ["acceptable_w"]=> int(0) ["max_image_width"]=> int(1400) ["image_full_width"]=> int(696) ["percent_width"]=> int(1) } [1]=> array(10) { ["media_query"]=> int(150) ["url"]=> string(87) "" ["width"]=> int(300) ["next_break"]=> int(300) ["ratio"]=> bool(false) ["acceptable_h"]=> int(0) ["acceptable_w"]=> float(150) ["max_image_width"]=> int(1400) ["image_full_width"]=> int(696) ["percent_width"]=> int(1) } [2]=> array(10) { ["media_query"]=> int(300) ["url"]=> string(87) "" ["width"]=> int(480) ["next_break"]=> int(480) ["ratio"]=> bool(false) ["acceptable_h"]=> int(0) ["acceptable_w"]=> float(300) ["max_image_width"]=> int(1400) ["image_full_width"]=> int(696) ["percent_width"]=> int(1) } [3]=> array(10) { ["media_query"]=> int(480) ["url"]=> string(79) "" ["width"]=> int(696) ["next_break"]=> int(696) ["ratio"]=> bool(false) ["acceptable_h"]=> int(0) ["acceptable_w"]=> float(480) ["max_image_width"]=> int(1400) ["image_full_width"]=> int(696) ["percent_width"]=> int(1) } }
Member Benefits takes your concerns seriously and would like to address the most common ones we hear from you.

What are the ways Member Benefits interacts with account holders?

While we generally don’t call every member on a regular basis, we do have customer service representatives, investment consultants, and financial planning staff available. Contact us any time to discuss or review your account. If you utilize our advisor-managed model portfolio, we will regularly reach out to you to update your risk tolerance preferences. We also provide educational seminars, this magazine, an informational website, and monthly email options, just to name a few additional ways we keep in touch with you and share helpful financial information.

Why doesn’t Member Benefits offer more investment choices?

When it comes to investment lineups, quality is more important than quantity. Our investment committees regularly monitor the performance of the funds in our investment lineup and make changes when needed. We maintain a shorter list because the funds we offer are heavily vetted on the front end for cost, performance, volatility, and other factors. The investment choices span the major asset classes and enable participants to build a well-diversified portfolio. For example, as of March 31, 2023, the moderate Model Portfolio offered in our Personal Investment Accounts consisted of 10,640 individual stock holdings with 1,274 bond issues. The average net expense ratio is 0.21%.

Member Benefits won’t give investment advice, but my financial advisor would like to monitor everything I have.

Did you know that Member Benefits DOES give advice and offer financial planning? Our 403(b) program provides you with a private financial planning portal called eMoney—and you don’t pay extra for this service. You get a consolidated view of all of your accounts, and our financial planners can help you with income strategy during retirement, an analysis of your income vs expenses, tax planning, legacy planning, and more. We can also create “what if” scenarios for you to consider to enhance your financial wellness and that of your family.

When you have a 403(b) with WEA Member Benefits, you enjoy many benefits, including:

  • Access to education and seminars.
  • Complimentary comprehensive financial planning.
  • Investment choices stringently analyzed by an investment committee.
  • No commissions.
  • Low fees.
  • Managed accounts without a management charge.

None of this changes if you’ve retired or changed school districts. So why move to another company where you lose these benefits? Perhaps consider consolidating any outside accounts to your Member Benefits account as well.

This is the third and final article in our series. Read more: