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Category Archives: fiduciary compliance
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
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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
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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
Has Schwab Opened Pandora’ Box for RIAs?
Schwab’s recent victory upholding its class action waiver provision in its customer contracts raises a number of potential issues for fiduciaries, especially since most B/D’s can be expected to follow suit with similar provisions if Schwab’s waiver provision withstands the … Continue reading
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Gifts and Conflicts of Interest
I received a call yesterday from an RIA firm that had been providing magazine subscriptions and other gifts to clients that referred new clients to the firm. The managing member of the RIA firm said that he had attended a … Continue reading
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