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Recent Posts
- Terminal Wealth: The True Fiduciary Prudence Paradigm with Regard to the In-Plan Annuity Scam
- Is the DOL/EBSA Trying to Serve Two Masters? ERISA Section 404(a)’s Independent Investigation and Evaluation Requirements and the DOL/EBSA Proposed Rule on Alternative Investments
- Much Ado About Nothing?: The DOL’s New Alternative Investment Rule vs. the Administrative Procedure Act
- Reasserting ERISA’s Private Enforcement Design: A Rebuttal to EBSA’s “Frivolous Litigation” Narrative
- When Income Is Not Enough: Why the Continued Inclusion of In-Plan Annuities May Breach ERISA Duties When Compared to Capital-Preserving Income Alternatives and Strategies
The Prudent Investment Adviser Rules
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Author Archives: jwatkins
Death, Divorce and LaRue: 401(k) Breach of Fiduciary Duty Claims as Assets In Divorce and Probate Cases
In 2008, the Supreme Court of the United States handed down their landmark decision in LaRue v. DeWolff, Boberg and Associates, Inc.(1) In LaRue, the Court finally recognized the fundamental difference between defined benefit pension plans and defined contribution pension … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, fiduciary, fiduciary investing, fiduciary law, pension plans, retirement plans, risk management, wealth management, wealth preservation
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The Art of Fiduciary Investing: Controlling the Controllable
“[I]nvesting intelligently is about controlling the controllable.” Ben Graham, “The Intelligent Investor” The world of fiduciary investing is going through a significant stage, as more attention is being focused on various issues such as advisory fees, annual fees charged by … Continue reading
Posted in 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, investment advisers, investment analysis tools, pension plans, retirement plans, RIA risk management, risk management, wealth management, wealth preservation
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Fiduciary Standard and Selective Amnesia at the SEC
I just finished reading Knut Rostad’s insightful post on ThinkAdvisor.com regarding the ongoing debate over a uniform fiduciary standard for both stockbrokers and investment advisers. For those unfamiliar with Knut, he is the President of The Institute for the Fiduciary … Continue reading
Posted in fiduciary compliance
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Incredible Marketing Opportunity for RIAs
I recently read an article in which SEC Commission Gallagher stated that he is not convinced that a universal fiduciary standard is needed. He also stated that he needed to see more evidence of the need for such a standard. … Continue reading
Posted in RIA
Tagged fiduciary, fiduciary law, investment advisers, RIA, RIA risk management, wealth management
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Social Media and the Investment Adviser
I could write a new blog entry, but why do so when Financial Planning just wrote an excellent article on the subject. http://www.financial-planning.com/news/practice_management/social-media-and-regulatory-compliance-5-rules-2689208-1.html Without question, the continued use of Facebook “likes” and LinkedIn “recommendations are the most common violations. The … Continue reading
Posted in compliance, fiduciary compliance, fiduciary law, RIA, RIA Compliance
Tagged compliance, investment advisers, RIA, RIA compliance
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The Investment Adviser’s Achilles’ Heel v. 2.0
The Securities and Exchange Commission (SEC) recently released a notice regarding the use of testimonials and social media. Investment advisers are generally prohibited from using client testimonials. While the SEC has allowed the use of third-party ratings as long as certain requirements are met, … Continue reading
THE Key Factor in Liability Risk Management
I was at a conference recently to serve on a panel to discuss various fiduciary issues, including FINRA Regulatory Notice 12-25 and the universal fiduciary standard. When I am at a conference, I rarely attend other presentations for the very … Continue reading
Posted in 401k compliance, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, RIA Compliance, securities compliance, wealth management, wealth preservation
Tagged 401k compliance, 404c compliance, compliance, fiduciary, fiduciary law, FINRA, investment advisers, portfolio optimization, RIA compliance, RIA risk management, risk management, securities compliance, suitability, wealth management, wealth preservation
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Four Faces of Fiduciary Prudence
In defining prudence, ERISA’s rules and regulations state that [A] fiduciary shall discharge his duties with respect to a plan solely in the interest of the participants and beneficiaries…with the care, skill, prudence, and diligence under the circumstances then prevailing … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, securities, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary law, investment advisers, modern portfolio theory, pension plans, retirement plans, RIA, RIA compliance, RIA risk management, risk management, suitability, wealth management, wealth preservation
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Quantum Meruit and “Other” Compliance Challenges
When I was a compliance director, my biggest frustration was not being able to share certain legal information with the broker-dealer’s registered representatives and those who maintained independent RIAs. I understood the BD’s position, namely that volunteering such information potentially … Continue reading
Posted in compliance, fiduciary compliance, fiduciary law, investments, RIA, RIA Compliance, securities, securities compliance, wealth management, wealth preservation
Tagged compliance, Compliance Gauntlet, fiduciary, fiduciary law, investment advisers, modern portfolio theory, RIA, RIA compliance, RIA risk management, risk management, securities compliance, wealth management, wealth preservation
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2014 – Brave New Fiduciary World
2014 promises to be a important year for fiduciary liability issues. ERISA advisers, sponsors and attorneys await the Court of Appeals’ decision in Tussey v. ABB,Inc. and its impact on fiduciary issues such as prudence, loyalty and due diligence. If … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary law, FINRA, investment advisers, pension plans, RIA compliance, securities compliance, wealth management
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The Prudent Investment Fiduciary Rules 
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