On the face of it, there appears to be little room for debate. Upon closer examination, however, the specifics of particular circumstances can muddle things up. Would you like to see what we mean by this? Here’s what you get when you ask the experts whether or not a fiduciary can ever legally engage in self-dealing.
Tag "fiduciary"
Would you rather have the nuts and bolts practical guide for what to ask or the theoretical questions that tend towards the philosophical? Most 401k plan sponsors are too busy for theory, that’s why they’ll prefer to focus on these questions.
Before one can advise investors, it’s critical one know what they’re thinking and understand why they’re thinking it.
Plan sponsors shouldn’t let these three common fee foibles expose them to unnecessary fiduciary liability.
“As more employees find their 401k accounts growing to more than one million dollars, there will be a greater desire for employees to gain greater control over their own future. Plan sponsors should become more aware of the consequences of providing these kinds of options and how best to mitigate the liability risk associated with them.”
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.
It’s in everyone’s best interest to be successful, so it’s part of a fiduciary’s duty to show them how.
Government AWOL, Fiduciary Name Game continues, and should fees be determined by the marketplace or the courts?
Long-term investors like retirement savers can easily act like a fiduciary for their own assets. All they need to do is look in a mirror – but not for their own reflection. Look in a mirror a retirement professional is looking into and see how that reflection invests for retirement.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 2/9/18
Top-down retirement policy ideas, “What? I pay Fees?” and what we remember (and don’t) about market volatility