The definition of “conflict-of-interest” has become so broadly defined as to render it useless. It’s better to focus on the one conflict-of-interest that, with very limited exceptions, fiduciaries have had to outright ban for centuries. Ironically, in contrast to this precedent, it remains the one conflict-of-interest the DOL expressly permits.
Tag "Charles Field"
“We have reached a watershed moment for retirement planning and saving.”
“Hopefully,” says Reese, “this past year gave employers a better understanding of what they need to look out for to act as fiduciaries for their plan participants.”
The DOL’s new Rule both discourages and permits continued conflicts-of-interest.
