This broader definition of fiduciary may impose a potential hardship on a segment of the retirement industry that has been trying hard to gain a foothold in plan infrastructure.
Tag "Annuity"
So what if a few very high net savers end up with bigger retirement plans? Good for them. The point is to make it easier for more people to save more.
Just as these changes come bearing down, so, too, does a need for greater hand holding. Pressures within the provider industry, however, appear to be reducing the number of available hands.
If the numbers don’t add up for annuities (or anything else, for that matter), where is the demand for these products coming from?
It’s not just plan sponsors and plan participants that need convincing. The entire retirement plan infrastructure must also get on board. That doesn’t mean the hurdles can’t be overcome.
Why are there two kinds of Target Date Funds and why does that doom this particular group of people saving for retirement in their company’s 401k plan?
Here’s something you don’t always see, but maybe you should.
“That is one of the key weaknesses of the SEC’s Reg BI. It allows brokers to claim they are working in an investor’s best interest without being held to a legal duty of loyalty”
A good fiduciary needs to see through the hype and base decisions solely on matters of import. This isn’t as easy as it sounds. For one thing, hype, like humor, works because it’s based on truth. This mantle of credibility is just enough to lead the fiduciary astray.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 3/29/19
Compliance mixed bag, SEC BI DOA? and “Investments: The Sequel”