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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
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Author Archives: jwatkins
“Hidden” Assets – Potential Liability Implications of the LaRue Decision for Attorneys and Fiduciaries
During a recent deposition of an executor, I asked the executor, a bank trust officer, whether the bank had evaluated the defined contribution plan in which the deceased had participated. The trust officer replied that the funds in deceased’s account … Continue reading
Posted in 401k, fiduciary compliance, fiduciary law, pension plans, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, ERISA, fiduciary, fiduciary law, investment advisers, pension plans, retirement plans, RIA compliance, wealth management, wealth preservation
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Creative Chaos – Creating a Win-Win Situation for Investors and Investment Advisers
Having been involved in the quality of investment advice arena for twenty-five years in some capacity (e.g., securities attorney, RIA consultant, B/D compliance director), I have seen numerous changes in both the industry and the surrounding legal/regulatory environment. There is … Continue reading
Posted in 401k, 401k compliance, 401k investments, compliance, fiduciary compliance, fiduciary law, investments, retirement plans, RIA, RIA Compliance, securities compliance
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary law, FINRA, investment advisers, investment analysis tools, RIA, RIA compliance, RIA risk management, risk management, securities compliance, suitability
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Market Timing and Legal Liability: What Really Matters
People always ask me how I can be a securities attorney and sue stockbrokers and other financial advisers and also be an RIA compliance consultant. My answer is that by combining the two, ultimate goal is promote a win-win situation. … Continue reading
Posted in fiduciary compliance
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Beware the “We’re #1” Trap
Michael Kitces recently posted an article about a proposed publication that would provide client reviews of their financial advisors. For those of you who do not follow Michael, you should do so. Michael is recognized as an industry leader. I … Continue reading
“Piddle, Twiddle and Resolve”
I just finished Bob Clark’s excellent article, “Dear SEC Chairwoman: About That Pesky Fiduciary Issue…” (http://www.advisorone.com/2013/06/28/dear-sec-chairwoman-about-that-pesky-fiduciary-iss). In the article, Mr. Clark suggests that the SEC be reminded of various statements listed on its web page, including its mission statement to … Continue reading
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New “Barron’s Advisor” List-Potential Compliance and Fiduciary Issues
Barron’s recently released a new list, the “Barron’s Advisor” list. While advisors obviously enjoy being placed on such “top” or “best” lists, Barron’s list raises various issues that can serve as a lesson in addressing potential compliance and fiduciary issues … Continue reading
Posted in fiduciary compliance
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Upon Further Review: Do We Already Have a Universal Fiduciary Standard?
The debate over a universal fiduciary standard for the financial services industry continues. To date, as John Adams lamented in “1776,” “piddle. twiddle and resolve, not a damned thing do we solve.” Several studies have conclusively shown that the American … Continue reading
Posted in 401k, 401k compliance, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, retirement plans, securities compliance
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary law, FINRA, retirement plans, securities compliance, suitability
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How “Safe” Are ERISA 401(k)/404(c) Safe-Harbors?
Like so many others, I provide consulting services to pension plans. Unlike others, I focus on the risk management aspect of pension plans instead of the fundamental, or administrative, aspects of a plan. I chose to focus on the risk … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, fiduciary compliance, fiduciary law, investments, retirement plans, securities
Tagged 401k, 401k compliance, 404c, 404c compliance, ERISA, fiduciary, fiduciary law, investment advisers, investment analysis tools, retirement plans, risk management, securities compliance
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The Tibble Decision – 3 Valuable Lessons for Plan Sponsors and Other Plan Fiduciaries
Reading the Ninth Circuit’s recent decision in Tibble v. Edison International, I could not help but notice three issues that I believe will significantly impact ERISA plan sponsors and other plan fiduciaries going forward. First, the Court correctly pointed out … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, fiduciary compliance, fiduciary law, investments, retirement plans
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary law, investment advisers, investment analysis tools, retirement plans, RIA risk management, risk management
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Has Schwab Opened Pandora’s Box for RIAs? – Part Two
In a recent post, I suggested that the recent court decision upholding Schwab’s class action waiver in customer’s contracts could have potential liability implications for RIAs and other fiduciaries that recommend or use Schwab, or for that matter any other … Continue reading
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