The root of these broader fiduciary concerns lies within the domain of compliance. Everything derives from what the regulators require, what any DOL audit might look at, and what might pique the interest of class-action attorneys.
Tag "Holly Verdeyen"
Even without these extremes, this asset class brings with it a roller coaster experience, something many retirement savers won’t be able to stomach.
A good fiduciary needs to see through the hype and base decisions solely on matters of import. This isn’t as easy as it sounds. For one thing, hype, like humor, works because it’s based on truth. This mantle of credibility is just enough to lead the fiduciary astray.
The need for 401k plan sponsors to increase their focus on their fiduciary duties and, specifically, execute strategies with can reduce their fiduciary liability, arises from this New Fiduciary Era in which we find ourselves. Fortunately, the path to implementing these strategies is well worn. It should be easy to accomplish.
