Herein lies the potential for a direct conflict of interest. This applies generally to all proxy voting in commingled portfolios.
Tag "DOL"
Plan sponsors need to think about it in these terms: Does it make sense to have a pork-belly ETF on a 401k investment menu? How about orange futures?
Between the IRA Rollover matter and the redefinition of âregular services,â there is no shortage of ways to chip away at the new Rule. What might be one way we can expect to see the industry attack the Rule in front of a judge?
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.
The DOL seems to use the same metric that it earlier employed in its statement on the Fiduciary Rule. Still, the Advisory Opinion is very precise in what it allows. Citi will have to tread carefully to not cross the line into the realm of fiduciary.
The DOLâs guidance on missing plan participants appears just as effective as its week 2012 Mutual Fund Fee Disclosure Rule. Yes, itâs there, but it has no viability. Still, that doesnât mean 401k plan sponsors can ignore the issue, even if they have not lost participants.
The antiseptic compliance regime spelled out by the DOL and ERISA has to date defined fiduciary services. Perhaps, if weâre going to consider what is âbeyondâ that sterile definition, we might want to go back to the future. In a sense, rediscovering where âfiduciaryâ initially came from might suggest where it is headed.
Back then, at least, we knew who wore the white hats and who whore the black hats. Today, thanks to muddled and often conflicting regulations for multiple agencies, everyone is wearing fifty shades of gray.
This week weâll be focusing on those favorite features as judged by the retirement plan professionals we interviewed. Donât be surprised if over the next few weeks you discover that one providerâs treasure is another providerâs trash.
These Classic Movies (Unknowingly?) Promote The Fiduciary Standard
It seems like each decade produces a major box office hit that exudes fiduciary. This whole âbest interestâ thing seems to have caught on in Tinseltown. More recent movies have added a good dose of the âhonestyâ part of fiduciary.