It’s been a week of reversals as popular conceptions regarding index funds and ETFs are challenged by a flurry of writers. At the same time, SEC officials try to backtrack Chairman Shapiro’s backtrack on 12b-1 fees.
Tag "court ruling"
Trending topics this week explores whether a popular investment product is a ticking time bomb or the Holy Grail of investing and connects the dots to lament over the apparent loss of a true fiduciary standard.
Looks like reporters might be sensing they’ve written all they can about the fight for the fiduciary standard. And speaking of standards, guess what oldie but goodie pops up as trending this week?
In a week where the new Form ADV became official, we discovered it can increase fiduciary liability for 401k plan sponsors for the same reason it is supposed to help them. In the meantime, the fiduciary finger now points squarely at brokers alone, plus more news on pensions and Target Date Funds.
A day in the life of a fiduciary, from a foreboding dawn, to the doom of high noon, to the sun setting on an old friend, to the restless night. What a week it’s been.
Just as the problems with Target Date Funds go mainstream, the GAO asks the DOL to look into disclosure rules that could torpedo annuities in 401k plans. Oh, and the House calls the SEC’s bluff.
This week sees more on the part of the BD industry trying to pit the DOL against the SEC, the revelation of an interesting “opt-out” feature in the new DOL financial definition that may invalidate the entire effort and a surprise response from the SEC.
Whether you’re a plan sponsor of a defined contribution plan like a 401k or a defined benefit plan, this past week contained news you could use – or at least have on your radar.
This week was an important week for plan sponsors worried whether their 401k decision would come back to bite them. Yet, despite the media blather, one quote stands out as the ultimate truth. We’ve got it for you here.
Fiduciary News Trending Topics for ERISA Plan Sponsors: Week Ending 5/6/11
The SEC finally admits 12b-1 is a priority, The Wall Street Journal finally explains why ETFs might not be ready for prime-time and InvestmentNews finally reveals why many financial advisers won’t be impacted at all by a uniform and stronger fiduciary standard. Still, there’s one article that sets all we’ve learned the past forty years so far back you won’t believe it.