Will the intrusion of government-sponsored retirement products unify a House currently divided by the Fiduciary Standard?
Compliance
While everyone’s talking about the potential impact the DOL’s proposed new Fiduciary Rule will have on IRAs and the brokerage industry, the greater impact may be on recordkeepers within the 401k industry.
The DOL is poised to endorse the continued use of the very fees it claims are costing retirement savers billions per year.
Ultimately, to survive, Social Security must evolve into a defined contribution system and away from its current Ponzi Scheme structure.
Perhaps, when planning for retirement, self-security is more important than Social Security.
When it comes to being a fiduciary, the customer is, most assuredly, not always right.
There are good examples of “best interests” and bad examples of “best interests,” but the ugly truth is we won’t know the practical definition of “best interests” until the courts decide.
Things in the news aren’t as they seem, but that doesn’t mean they’re not as they seem.
Just because something is measurable doesn’t mean it’s relevant.
