Category Archives: compliance

Are We At a “Tipping Point’ in ERISA Fiduciary Litigation?

As I went through my daily social media review, I noticed a post indicating that DOL Secretary Acosta has indicated that the DOL is ready to enforce the department’s new fiduciary rule (“Rule”). Excuse me if I’m skeptical, given the … Continue reading

Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, closet index funds, compliance, cost consciousness, DOL fiduciary rule, DOL fiduciary standard, ERISA, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, investment advisers, investments, pension plans, prudence, retirement plans, wealth management, wealth preservation | Tagged , , , , , , , , , , , , , , , , , ,

Unintended Consequences: Financial Advisers and Potential Liability Issues Under State Fiduciary Laws

With the investment industry driving and celebrating the continuous efforts of the DOL and Congress to emasculate the DOL’s fiduciary rule, I have received emails from stockbrokers and RIAs/IARs as to what the practical meaning of these actions, from a … Continue reading

Posted in BICE, compliance, cost consciousness, DOL fiduciary rule, DOL fiduciary standard, ERISA, fiduciary compliance, Fiduciary prudence, fiduciary standard, Impartial Conduct Standards, pension plans, prudence, retirement plans, RIA, RIA Compliance | Tagged , , , , , , , , , , , , , , , ,

Don’t Poke the Bear: Nevada Rains on Anti-Fiduciary Rule Parade

It is well established that ERISA comprehensively regulates employee pension and welfare plans, and t hat in the area of its coverage it preempts state laws and regulations. …However, it is also clear that there is a presumption against preemption, … Continue reading

Posted in 401k, 404c, 404c compliance, BICE, compliance, DOL fiduciary rule, DOL fiduciary standard, ERISA, fiduciary compliance, Fiduciary prudence, fiduciary standard, pension plans, prudence | Tagged , , , , , , , , , , ,

Transparency Is the Best Sunlight: Four Due Diligence Questions Plan Sponsors and Plan Participants Should Ask

Sunlight is the best disinfectant. – Justice Brandeis The ongoing attempts by the Department of Labor (DOL) and Congress to delay or completely reverse the DOL’s fiduciary rule sends a clear message to pension plan sponsors and plan participants – … Continue reading

Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, BICE, closet index funds, compliance, cost consciousness, DOL fiduciary rule, DOL fiduciary standard, ERISA, evidence based investing, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, Impartial Conduct Standards, investments, IRA, IRAs, prudence, retirement plans, RIA, RIA Compliance, securities compliance, wealth management, wealth preservation | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

The New Mathematics of Successful Investing

Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing had happened. – Winston Churchill Facts do not cease to exist because they are ignored. – Aldoux Huxley Ask any investor … Continue reading

Posted in 401k, 401k investments, 403b, 404c, 404c compliance, closet index funds, clsoet index funds, compliance, cost consciousness, DOL fiduciary rule, DOL fiduciary standard, elderly investment fraud, evidence based investing, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, Impartial Conduct Standards, investment advisers, investments, pension plans, prudence, retirement plans, securities compliance, wealth management, wealth preservation | Tagged , , , , , , , , , , , , , , , , , , , , ,

The Often Overlooked Fiduciary “Gotcha”: The Fiduciary Duty (and Challenge) of Cost-Consciousness

The vast majority of active managers are unable to produce excess returns that cover their costs.1 I recently posted an article discussing a brilliant complaint that was filed in connection with a new 401(k) excessive fees/breach of fiduciary duties action. … Continue reading

Posted in 401k, 401k compliance, 403b, 404c, 404c compliance, closet index funds, compliance, cost consciousness, DOL fiduciary rule, DOL fiduciary standard, ERISA, evidence based investing, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, Impartial Conduct Standards, investment advisers, investments, IRA, IRAs, pension plans, prudence, retirement plans, RIA, RIA Compliance, wealth management, wealth preservation | Tagged , , , , , , , , , , , , , , , , , , , , , , ,

“Upon Further Review: Do We Already Have a Universal Fiduciary Standard?” Redux

Back in 2013 I posted an article dealing with the controversy over the DOL’s proposed fiduciary standard. In that article, I suggested that a universal fiduciary standard was already in place that applied to stockbrokers, investment advisers and anyone else … Continue reading

Posted in BICE, compliance, DOL fiduciary rule, DOL fiduciary standard, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, financial planning, Impartial Conduct Standards, investment advisers, investments, RIA, RIA Compliance, securities compliance | Tagged , , , , , , , , , , , , , ,