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Recent Posts
- The Active Management Value Ratio as a Cost-Benefit Framework: Integrating AI into Fiduciary Prudence Analysis
- Battle of the Best Interests – Whose Are the EBSA and the DOL Supposed to Serve, and Whose Are They Really Serving?
- Guest Article On Supreme Court’s Decision to Hear the Intel Case
- Fair Dinkum: A Critique of the EBSA’s Amicus Brief in Pizarro v. Home Depot
- Upon Further Review; The 3 X 3 Analysis That Shows Why Prudent Plan Sponsors Will Never Offer Annuities Within Their Plan
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Category Archives: investments
Duty of Cost-Consciousness: The Fiduciary “Gotcha” You Think You Understand…But You Probably Don’t
While no one is certain at this point what the eventual DOL fiduciary rule will look like, or whether there will even be a DOL fiduciary rule, fiduciary law will continue to exist and establish the liability standards for investment … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c compliance, Annuities, closet index funds, clsoet index funds, DOL fiduciary standard, ERISA, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, Impartial Conduct Standards, investment advisers, investments, IRAs, pension plans, retirement plans
Tagged 401k, 401k compliance, 404c, 404c compliance, Active Management Value Ratio, AMVR, best interests, BICE, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary standard, pension plans, retirement plans, wealth management
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“Apples to Apples” and Other Investment Return Issues
I just finished reading Judge Doty’s decision dismissing the Wells Fargo 401(k) excessive fees action and the complaint filed in the new Capital Group/American Funds 401(k) breach of fiduciary duties action. Just seems to be further evidence that we have … Continue reading
Posted in 401k, 401k compliance, 404c compliance, closet index funds, compliance, DOL fiduciary rule, DOL fiduciary standard, ERISA, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, Impartial Conduct Standards, investment advisers, investments, pension plans, retirement plans, RIA
Tagged 401k, 401k compliance, 404c, 404c compliance, Active Management Value Ratio, AMVR, best interests, BICE, closet index funds, compliance, DOL rule, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary standard, investment advisers, pension plans, retirement plans, securities compliance, wealth management
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The Investor Revolution: A “Best Interests” Checklist for Investors and Fiduciaries
The DOL recently announced that it will not seek to delay the effective date of the department’s new fiduciary law. Beginning June 9, 2017, anyone providing advice to pension plans and plan participants will be deemed to be a fiduciary, … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, DOL fiduciary standard, ERISA, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, investment advisers, investments, pension plans, retirement plans, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, 404c, 404c compliance, Active Management Value Ratio, best interests, compliance, ERISA, fiduciary, fiduciary law, fiduciary standard, FINRA, investment advisers, investment analysis tools, pension plans, retirement plans, risk management, suitability, wealth management, wealth preservation
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Controlling the Controllable: Factoring Investment Costs Into the Prudence/Suitability Equation
Facts do not cease to exist because they are ignored. – Aldous Huxley In an earlier post, I discussed the benefits of controlling the controllable aspects of investing. Investors cannot control the performance of the markets. Investment fiduciaries are not … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, DOL fiduciary standard, elderly investment fraud, evidence based investing, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, financial planning, investment advisers, investments, IRAs, pension plans, retirement plans, RIA, robo-advisors, special needs advice, special needs planning
Tagged 401k, 401k compliance, 403b, 404c, 404c compliance, Active Management Value Ratio, AMVR, elder investment fraud, ERISA, evidence based investing, fiduciary, fiduciary investing, fiduciary law, fiduciary standard, investment advisers, investment analysis tools, pension plans, prudence, retirement plans, suitability, wealth management, wealth preservation
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Emerging Asset Allocation “Trap?”
As both a securities/ERISA attorney and a CFP® professional, I realize that I often see things from a different perspective that other in those professions. Some would say that is an advantage, others say it’s a disadvantage. I have definitely … Continue reading
Posted in 401k compliance, 404c compliance, compliance, DOL fiduciary standard, elder law, elderly investment fraud, fiduciary compliance, fiduciary law, fiduciary standard, financial planning, investment advisers, investments, IRAs, pension plans, RIA Compliance, securities, special needs advice, wealth management, wealth preservation
Tagged 401k, 401k compliance, asset allocation, compliance, fiduciary, fiduciary investing, fiduciary law, fiduciary standard, financial planning, investment advisers, investment analysis tools, modern portfolio theory, portfolio optimization, retirement plans, RIA compliance, RIA risk management, risk management, securities compliance, suitability, wealth management, wealth preservation
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Fiduciary Standard vs. Suitability Standard: The “Gotcha” That Won’t Go Away
There is currently a lot of speculation on how and if the new Trump administration will attempt to undo the DOL’s new fiduciary rule. Opinions range from an attempt to delay the effective date of the new rule to a … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, fiduciary compliance, fiduciary law, fiduciary standard, investment advisers, investments, pension plans, retirement plans, RIA, RIA Compliance, securities, securities compliance, wealth management
Tagged 401k compliance, 403b, 404c, 404c compliance, Active Management Value Ratio, AMVR, best interests, compliance, ERISA, evidence based investing, fiduciary, fiduciary investing, fiduciary law, fiduciary standard, FINRA, investment advisers, pension plans, retirement plans, RIA, RIA compliance, risk management, securities compliance, suitability, wealth management
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2017: Brave New World
2016 will be remembered by most financial advisers as the year of the fiduciary standard, the year everything changed forever. Some would challenge this statement, claiming that the Trump administration will make sure the DOL’s new fiduciary rule is reversed. … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, compliance, DOL fiduciary standard, ERISA, evidence based investing, fiduciary compliance, fiduciary law, fiduciary standard, investment advisers, investments, pension plans, retirement plans, RIA, RIA Compliance, securities compliance, Trust marketing, trust realtionships
Tagged 401k, 401k compliance, 404c, 404c compliance, Active Management Value Ratio, asset allocation, client trust, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary standard, financial planning, financial plans, FINRA, investment advisers, investment analysis tools, pension plans, retirement plans, RIA, RIA compliance, securities compliance, suitability
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Risk Management and Liability Housekeeping for RIAs
In providing consulting and compliance auditing to investment advisers, I often see what they often consider meaningless issues, but I see as potentially significant issues. Two such issues are improper identification of the registered investment adviser and improper handling of … Continue reading
Point to Ponder: A Reverse BICE Cause of Action?
In talking with some of my colleagues on both the legal and financial planing sides, an interesting question has come up with regard to potential liability under the new BICE provision of the DOL’s new fiduciary standard. I’m writing this … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, BICE, compliance, DOL fiduciary standard, ERISA, fiduciary compliance, fiduciary law, investment advisers, investments, IRAs, pension plans, retirement plans, RIA, RIA Compliance
Tagged 401k, 401k compliance, 404c, 404c compliance, BICE, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary standard, investment advisers, pension plans, retirement plans, RIA, RIA compliance, suitability
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A Fiduciary Blueprint: The Restatement of Trusts, the Prudent Investor Rule and the DOL’s New Fiduciary Rule
A [fiduciary] is held to something stricter than the morals of the market place. Not honesty alone, but the punctilio of an honor the most sensitive, is the standard of behavior…. Meinhard v. Salmon, 249 N.Y. 458, 464 (1928) Ever … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, Annuities, BICE, DOL fiduciary standard, ERISA, fiduciary compliance, fiduciary law, investment advisers, investments, IRAs, pension plans, retirement plans, RIA, RIA Compliance, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, Active Management Value Ratio, AMVR, Annuities, best interests, BICE, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary standard, investment advisers, investment analysis tools, pension plans, retirement plans, RIA, suitability, wealth management, wealth preservation
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The Prudent Investment Fiduciary Rules 
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