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New York State Deferred Compensation Program:
There are some changes coming in the next few weeks you should be aware of:

 

1.  Mullooly Asset has been granted institutional access now at Schwab.
What does this mean?

Mullooly Asset has gathered substantial assets at Charles Schwab in and out of the NYSDCP. When we make changes in your New York State Deferred compensation plan account, we currently need to log in to (and then log out of) each individual account.  This can be a lengthy process and slows down getting you in to (or out of) particular investments.  Now Mullooly Asset will be able to make changes instantly.

2.  Investment management fees will be deducted directly from your account at Charles Schwab.
What does this mean?

Primarily, it means no more writing checks every quarter to Mullooly Asset Management.   No more Paypal.   No more “pink” letters in the mail.   No more “house-keeping” phone calls from Tom.   All good.

3.  Statements and confirmations will be delivered electronically.
What does this mean?

When we make changes in your account at Schwab, you get transaction confirmations by mail.  You also get statements every month in the mailbox.   Guess what? Whatever you get, we get.   We get a copy of every single piece of mail.   Our shredder has been running around the clock, every day.   But no more.   You will be adored by tree-huggers everywhere.   Next Christmas, WE will get a card from our letter carrier, thanking us.

4.  One negative: we need updated paperwork from you.
What does this mean?

Look for a letter from us in the mail (soon) outlining these changes.

 

Questions?
Call the office at 732-223-9000.

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