Yes, the DOL exposed the folly of treating tax-deferred vs. taxable accounts differently, but the real issue remains that “advisers” and “advisors” are not held to the same regulatory standard. With or without the current DOL Rule, this is the vital question that needs to be answered.
Posts From Christopher Carosa, CTFA
Millennial-Centric Retirement Policy, Fiduciary by any other name, and Why the latest Fiduciary Rule fee move shouldn’t surprise you.
Exempting government officials from the same fiduciary standards imposed on private providers places retirement savers at undo risk.
Retirement Policy Ideas, Grasping for Fiduciary Straws, and Redefining Fees.
It’s very possible, if not very likely, the vast bulk of retirees want to simple relax. Chances are they’re more ready than others think, and just as ready as they want to be. Maybe that’s the metric every fiduciary should be focusing on.
Wither regulators? Wither fiduciary? and Zeroing in on fees.
“Millennials seek instant gratification. Putting money away today to live off of forty years from now isn’t nearly as sexy as a trip to Thailand with your girlfriends or tickets to the World Series. I’m not saying there’s anything wrong with that, but you’ve got to strike a balance between today and tomorrow.”
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Ultimately, it will be the tort bar that offers the enforcement and the subsequent consequence for poor decision making on the part of plan sponsors and service providers. Rest assured all sides will be discover the regulatory fence in their once open fields.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 12/9/16
Retirement policy crossroads, the long good bye of fiduciary, and functional redundancy.