“Perhaps the continued confusion can be expected given that the term ‘best interest’ is not defined in Reg BI and the word ‘fiduciary’ is not used in defining the new standard. It makes it harder to understand.”
Tag "fiduciary"
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.
While diligence is to be applauded, that’s not to say you can’t carry it to an extreme. If fact, some folks are so hung up on fees, they sometimes fail to see the bigger picture.
Clearly, you wouldn’t pay more for 2 apples if you could get 3 for the same price, but would you pay more to get 2 oranges instead?
Why are there two kinds of Target Date Funds and why does that doom this particular group of people saving for retirement in their company’s 401k plan?
Plan sponsors can benefit from motivated employees, and the 401k plan is a tool to achieve this motivation. What precisely can plan sponsors offer in addition to the usual company match to make their 401k plan more enticing, more attractive, more motivating?
Perhaps 401k plan sponsors should also focus plan participants’ attention on these 5 overlooked factors the can thwart their ability to attain the freedom of financial independence.
Despite this, 401k plan sponsors can better protect their employees, even when it comes to personal data, because that data is only acquired within the context of the service provider’s relationship to the plan.
When is a “problem” not really a problem? And what can be better than success, even if no one knows about it.
Exclusive Interview: Larry Starr Explains “Galactically Stupid,” 3% Math, and More!
Interested to know why small plans are different? What the dumbest retirement idea in the past 10 years was? What the most successful concept was? Read all about it in this article.