Weird, I am 55 and have 25 years with the company (mobility) and received an email from Rosenthal Investment Planning with the title - Downsizing & Retirement Planning for AT&at Managers - Management Voluntary Offers (MVO) discussion.
Anyone else receive the same recently?
Please no snarky remarks, this is a lay-off discussion site and intended for information pertaining to employment.
I have received a similar email few weeks before the January 29th, 2019 surplus. I was surplussed on January 29th.
Rosenthal has been around a very long time, they have a long time relationship with AT&T and many AT&T current employees and retirees. Their good folk. I've been doing business with them for over a dozen years. I meet with the regularly, even helped me get out of all AT&T funds right before this big drop. They handle a IRA rollover account for me, and the asset has grown quite large, and when it comes time to roll over the 401k/Roth and Pension/Lump its going to be handled by those guys. My wifes retirement assets will be handled by a different financial investment group, however they've also freely advised us both for smart moves for her to make. They handle these types of investment funds for all the greater areas large companies. They know very well your retirement plans.
I wouldn't pay too much attention to those outside firms, they are just fishing because they heard of the round of MVO's. I was surplus'd and off payroll last March (at age 55 w/ 32 yrs in Mobility). Fidelity reached out to me and I spoke to them and met at a local "wealth management" office. They are the plan holders so they are fluent in the pension and 401K plan. They will meet with you and discuss options for free as a rule of 75'er.
As other have said, these are just companies essentially doing cold calls looking for business that have somehow gotten info on AT&T employees. I had one company calling me on my work phone and the caller id showed up as an internal call originating from a St. Louis office, but their VM had their company number. Figure that one out.
I have noticed I have gotten some targeted ads on Facebook. Which is interesting as I don't discuss anything work related there.
Nothing new - just sales guys over at Rosenthal Investment Planning throwing in their bait to see which potential retirees could use their services. I'm very skeptical about all these Investment planners, poaching ATT retirees.. , every time I ask one of them what will you do to protect my retirement savings in the event of another major 2008 -like recession, I get a lot of deer in headlights looks and just more reading their script about they're track record and how they'll grow your savings.. I don't need an investment planner for that. I need someone who's going to protect my savings and grow it conservatively even if it means moving it into asset classes like precious metals, Real estate etc.. not just staying in the market while it trends downward.
Most of these places are general cookie cutter investment strategies and don't strike me as places that will cater to retirement preservation, I think you need to have 8 figures before those services become available. My point is if your half decent at finance and managing your money DO IT YOURSELF, if you feel overwhelmed then carefully choose a trustworthy firm.
This is nothing new. Similar Investments firms have reached out to AT&T employees in the past trying to educate them on their options to invest (Pension Lump Sum vs. Annuity Monthly Checks) hoping to acquire your business. They tend to understand your options and know what is happening within the company.
For the most part these have been call in conference calls and at no cost.
Nothing to lose and call in...... if that is the option.
It is good to listen to other employees Concerns and Q&A sessions are usually part of the agenda.