DOL aims its sites, is the brokerage model going extinct? and the problems with bonds
Tag "broker"
The best interests of the 401k participants will always trump convenience and cost.
The DOL changed the original ERISA definition of Fiduciary to exempt marginal players. Those players are no longer marginal.
To the extent regulation improves efficiencies, there will always be winners and losers. Those who don’t benefit will always oppose the change.
With Congress in recess, the anti-fiduciary lobbyists have moved to major media outlets. Meanwhile, we’re continually discovering government regulation too often produces Rube Goldberg fiascos like target-date funds.
Under the DOL’s proposed Investment Advice Rule, if a plan enters into a prohibited relationship with a vendor – or if an existing relationship now becomes prohibited – fiduciary liability rises. Can the 401k fiduciary afford to ignore these critical issues?
Are you breathing a sigh of relief? Commentators seem to have coalesced around several key benefits of this proposed Rule. Can you see these helping your plan’s participants?
SEC’s Mary Shapiro: “When it comes to 12b-1 fees, there is a need for more fundamental change than mere disclosure reforms and a name change.” FiduciaryNews’ exploration of this hot potato reveals a surprising misconception.
FiduciaryNews Trending Topics for ERISA Plan Sponsors: Week Ending 1/23/15
Unexpected silence, a leaked memo, and crazy investing ideas.