In a nutshell, what was initially considered a “pick me because you like me” decision on the part of the prospect has been reframed as a “pick me because I sold you investments” decision. It’s a subtle distinction, but it drives the difference between a fiduciary act and a non-fiduciary act.
Tag "conflict of interest"
Here’s something you don’t always see, but maybe you should.
401k plan sponsors can’t afford to fall victim to the lure of heuristics. Index funds can generate just as much fiduciary headaches as actively managed funds.
These may not be the only rules, but they rank up there as among the most practical for fiduciaries and, in some cases, for any other professional.
Government AWOL, Fiduciary Name Game continues, and should fees be determined by the marketplace or the courts?
The DOL is poised to endorse the continued use of the very fees it claims are costing retirement savers billions per year.
Social Security Birthday, Fiduciary Hearings, and Turning the Investing Tide.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 10/19/18
More regulatory silliness, Son of Fiduciary? and Looking for Mr. Low-Fee Bar.