Fiduciary News

Are 401k advisors prepared for how the new DOL Fiduciary Rule will impact… recordkeepers? No one’s been talking about this. Is it time we should?
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Will New DOL Rule Contain Fiduciary Surprise for 401k Recordkeepers? |…[Read more]

A fiduciary standard for colleges? What do you think? Will that begin to solve the college debt issue? Will it help parents? Will it lower tuition? Will it stop encouraging colleges to accept students who they shouldn’t?
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Paying off college debt and saving for retirement at the same time – what’s the most unusual tactic you’ve seen? Many believe it can’t be done, but many more are doing it every day. We aren’t looking for the tried and true methods here, we’re looking for the really outlandish (but entertaining, and, yes, successful) stories, like the ones…[Read more]

What advice would you give young employees about saving for retirement? Here’s the wisdom of four successful retirees. They aren’t financial service professionals, they’re just regular folk. Although we see them living comfortably in retirement, they admit they made mistakes, mistakes they wouldn’t have made if they knew these seven tips when they…[Read more]

After reading this article, has your stance on the DOL’s proposed Fiduciary Rule changed? The more and more I talk to people, traditional fiduciary advocates are having seconds thoughts on the DOL proposals and the brokers are,… well, let’s just say they continue to ask for more.
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Are Target Date Funds a violation of one’s fiduciary duty? If you think about the origins of fiduciary duty (namely, how it evolved via trust law), we see a mandate requiring fiduciaries to only takes actions that are in the best interests of the individual beneficiaries. This year’s Tamar Frankel Prize Winner David Swensen has penned two books…[Read more]

How do we stop the BHB myth that claims asset allocation accounts for 93% of investment performance? – It’s been a while since major financial service providers have misquoted the infamous Brinson-Hood-Beebower research papers from the late 1980s/early 1990s. We still, however, see individual practitioners and even the some journalists repeating t…[Read more]

After decades of relying on “risk tolerance” questionnaires, how do you convince 401k plan sponsors and investors that they’re more dangerous than useful? What horror stories can you share? – As the attached link explains, since as early as 1999, it’s been widely known “risk tolerance” questionnaires are, at best, irrelevant and, at worst, misl…[Read more]

Are investors who fail to learn from history doomed to repeat it? – We hear millennials prefer to buy annuities than to save in a 401k or IRA and invest directly (and at a lesser cost) in the stock market. Well, this is bad news and good news. The bad news is that those that don’t learn from history are condemned to repeat it. How many baby b…[Read more]

Why a Fee Disclosure? – It’s just not working. In fact, does it have any meaning at all, other than to confuse plan participants? It’s one thing to place the burden of discerning the value of fees on the plan sponsor for, after all, that is their fiduciary duty. But why bring the plan participant in it? It’s not like they can do anything about…[Read more]

When it comes to retirement plans, what is more important than fees? – As David Huntley, co-editor of the 401k Averages Book explains in the attached article, fees are the be-all and end-all when it comes to value. The DOL apparently shares this opinion. In your mind, what’s more important than fees?
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What’s the best way to improve 401k participant fee disclosure? – While it may be correct that it does more harm than good, it’s not going away. Our only hope is to make it better.How do you see that happening? Is there something more important than fees to disclose to 401k plan participants?
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What’s the biggest impediment to saving for retirement? – You may be surprised to see what AARP’s David Certner has to say in the attached article. Before you read it, though, tell us what you think it is.
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Has the DOL sufficiently defined “best interests” under its new proposal? – Or are we going to have to wait for the courts to decide? The DOL is saying let the courts decide. Is that really in the best interests of, well, anyone?
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Universal “Fiduciary” Standard – For almost two years now, I have been expressing my frustration about the “Fiduciary” standard because I knew that the lobbying effort during the rules making process leading up to the proposed regulation would be intense and would be ruled by those with the most to lose. I could not believe that people on our sid…[Read more]

From a tax standpoint, Are people better or worse off investing in a 401k plan? – Lately, there’s been much discussion surrounding the tax benefits of 401k plans. Many say, with tax rates so low, there’s no reason to invest in a 401k or any other tax deferred savings plan. Tell us what you think below. In either case, you might be surprised by the…[Read more]

Winners help plan sponsors solve problems, but which ones? If you want someone to do you a favor, you must first do them a favor. That’s one of the big lessons taught by Professor Don Corleone. (And when that doesn’t work, there’s always “that” offer.) Trouble is, sometimes people ask for one thing and want another. Other times they ask for somet…[Read more]

How Often Should Plan Sponsors Meet with Service Providers? – Monthly, quarterly, semi-annually, or annually? A plan and its investment option menu is like an aircraft carrier – it takes a long time to turn it. Unless something dramatic happens, meeting more than once a year may lead to short-term reactive decision making, which may not be in t…[Read more]

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