It’s not a simple matter of flipping a switch and allowing cryptocurrencies in plans. Because these are alternative investments, the plan sponsor will need to learn enough about them to make an informed decision.
Posts From Christopher Carosa, CTFA
Justice delayed, justice demanded, and justice delimited.
Fad topics come and go be a certain set of 401k concerns remain the same. What are they and why do they motivate plan sponsors?
Compliance hodgepodge, faux fiduciary surprise, and the fee song remains the same.
“Perhaps the continued confusion can be expected given that the term ‘best interest’ is not defined in Reg BI and the word ‘fiduciary’ is not used in defining the new standard. It makes it harder to understand.”
Viewing this content requires a Preferred Membership or better. You are not currently logged in. If you have an account,
In a nutshell, what was initially considered a “pick me because you like me” decision on the part of the prospect has been reframed as a “pick me because I sold you investments” decision. It’s a subtle distinction, but it drives the difference between a fiduciary act and a non-fiduciary act.
The coming regulatory tsunami; tick tock, tick tock; and “What took you so long?”
While diligence is to be applauded, that’s not to say you can’t carry it to an extreme. If fact, some folks are so hung up on fees, they sometimes fail to see the bigger picture.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 10/8/21
Happy Columbus Day! Set sail for fiduciary lands far away as regulators threaten to rock the boat. But be careful or else you might fall off the edge!