Be careful what you wish for because sometimes the cure can be worse than the disease.
Tag "Conflict of Interest Rule"
For that to work, however, it’s not enough to change the titles brokers use – to make them call their sales representatives “salespeople” and call their services “sales recommendations” – you’d also have to completely change the way they market themselves so that their marketing messages are consistent with their regulatory status.
“Hopefully,” says Reese, “this past year gave employers a better understanding of what they need to look out for to act as fiduciaries for their plan participants.”
This content is not available to your membership level. It is available to: Basic
You may register with FiduciaryNews.com for free to become a Basic Member. You may also upgrade to benefit from premium content available only to Professional and Preferred Members.
You may be seeing this because you did not Login. If you have logged in and are still seeing this, you will need to check your member level is able to access this content.
The DOL’s Assistant Secretary reveals how she and her staffed learned from initial attempts and why it led to a much stronger Conflict-of-Interest Rule.
He says it doesn’t pass the basic smell test, and that’s just warming up…
Schweiss says forcing brokers to abide by a fiduciary standard probably is “not a good strategy any more” and the government is no longer a viable part of the fiduciary solution.
FiduciaryNews Trending Topics for ERISA Plan Sponsors: Week Ending 4/17/15
DOL’s Fiduciary Flop, fee focus and investment oddities.