The financial news media and the investment industry constantly bombards employees with reminders to save for environment. It’s probably the most recognized financial goal people have. Could it be, then, that society has built up such an aura around retirement that the anticipation exceeds the actual event?
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Still, others remain cautious, especially given the novelty of the idea and the fact it remains untested.
As we approach clarity with regards to Congressional action and/or implementation of the Trump Executive Order, we may find need to expand these MEP guidelines. Until then, though, companies in business associations where commonality exists may wish to use these ground rules when determining if a 401k MEP is the right course to take.
“…the best efforts of those focused on product, not investors, are ultimately doomed to failure.”
“In 5 years, I think investors will be considerably worse off if SEC does go forward with its proposals without substantial change.”
Still, if one has confidence the marketplace will drive the industry towards focusing on the best interests of clients, then a de facto fiduciary standard can emerge organically, without overt reliance on regulators.
We asked financial professionals across the nation for their thoughts on the SEC’s effort. As you might imagine, it’s clear Regulation Best Interest has some good points and some not-so-good points.
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MEPs, Fees, and Leveling the ETF playing field.