Tag Archives: Compliance Gauntlet

“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 , , , , , , , , , , , , , ,

The Liability Needle in the RIA Haystack

I have always enjoyed working with registered investment advisers (RIAs) and their representatives (IARs). I first got into the investment industry in 1995, shortly after the NASD issued Notice to Members 94-44. NTM 94-44 clearly stated that BDs had a … Continue reading

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“Best Interest,” BICE and Liability Exposure for Plan Sponsors

I recently posted an article in various LinkedIn groups that addressed the need for various parties to address their duties and potential liability under the DOL’s new fiduciary standard. My comment that accompanied the post was Based on my personal … Continue reading

Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management | Tagged , , , , , , , , , , , , , , ,

Making BICE Meaningful – Reality vs. Illusion

I have had a lot of people ask me what I thought of the DOL’s new fiduciary standard. While I think there are some good points to the new fiduciary standard, in many ways the new standard reminded me of … Continue reading

Posted in 401k, 401k compliance, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management | Tagged , , , , , , , , , , , , , , , ,

Outsourcing: Panacea or Placebo?

Outsourcing has become a buzzword in the investment advisory industry. I have had many RIA firms tell me that they have outsourced bot their compliance and wealth management functions, allowing them to concentrate solely on marketing and  gathering assets. In … Continue reading

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The Fiduciary Standard – It’s “Best Interests,” Not “Like Everyone Else”

During a recent deposition of an investment adviser, the adviser told me that was doing the exact same thing as everyone else in the  industry and asked me why I was “targeting” him. Not the first time I have heard … Continue reading

Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, RIA, RIA Compliance | Tagged , , , , , , , ,

Three Investment Adviser Fiduciary Traps to Avoid

My last post advising advisers not to prepare and distribute financial plans resulted in several emails, some nice, some not so nice. With over nineteen years of experience in RIA law, both as a director of RIA compliance for FSC … Continue reading

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