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- DOL’s Betrayal of American Workers Sends a Clear Message to American Workers: We Really Don’t Give a Damn About You!
- Implications of Section 78(3) of the Restatement (Third) of Trusts and the Expanding “Knew or Should Have Known” Liability Standard in the Era of AI
- Closing Argument: Humble Arithmetic, Common Sense, and Fiduciary Liability vs. In-Plan Annuities
- Closing Argument: Humble Arithmetic, Common Sense, and Fiduciary Responsibility vs. In-Plan Annuities
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Category Archives: RIA Compliance
Plan Sponsor and RIA Alert: Navigating the 78(3) Fiduciary Liability “Gotcha”
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® During a recent deposition I asked the plan sponsor if he understood the requirement under the fiduciary duties of prudence and loyalty. His answers were your basic ERISA 404(a) language. When he … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k plan design, 401k plans, 401k risk management, 401klitigation, 404(a), Annuities, compliance, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciarylitigation, pension plans, plan advisers, plan sponsors, prudence, retirement plans, RIA, RIA Compliance, RIA marketing, risk management
Tagged 401k, 401k compliance, 401k fiduciary, 401k litigation, 401k plans, Annuities, compliance, ERISA, fiduciary, fiduciary law, investment advisers, plan sponsors, RIA compliance, RIA marketing, RIA risk management
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The InvestSense Challenge for Plan Sponsors: Key Fiduciary Liability Risk Management Questions
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® I often hear or read plan sponsors and other investment fiduciaries describing how hard their jobs are, how difficult it is to select and monitor their plan’s investment options and avoid fiduciary … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k plan design, 401k plans, 401k risk management, 403b, 404c, 404c compliance, Active Management Value Ratio, AMVR, Annuities, compliance, consumer protection, cost consciousness, cost efficient, Cost_Efficiency, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, financial planning, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement planning, retirement plans, RIA, RIA Compliance, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c compliance, Annuities, compliance, ERISA, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, fiduciary loyalty, fiduciary oversight, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciarylitigation, fiduciaryoversight, retirement plans
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“Knew or Should Have Known”: Annuities, Plan Sponsors, and Fiduciary Law – Part 1
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® For years, the annuity industry has attempted to gain greater access to plan participants’ accounts within 401(k) and 403(b) retirement plans. The industry has tried to counter the fiduciary prohibition against the … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k plan design, 401k plans, 401k risk management, 403b, 404c, 404c compliance, Annuities, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, investment advisers, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement plans, RIA, RIA Compliance, risk management, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401k litigation, 404c compliance, compliance, ERISA, fiducairy risk management, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary responsibility, fiduciarylitigation, fiduciaryprudence, investment advisers, retirement plans
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Non-Commission Annuities: The “New” Fiduciary Annuity Trap
“Equity abhors a windfall.” Fiduciary law is largely based on trust, agency and equity law, with an emphasis on fundamental fairness. Any situation in which a fiduciary benefits at a beneficiary’s expense is a potential breach of the fiduciary’s duties. … Continue reading
Posted in 401k, 401k compliance, 401k investments, Annuities, compliance, consumer protection, cost-efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, investment advisers, prudence, Reg BI, RIA Compliance, RIA marketing, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, Active Management Value Ratio, best interests, BICE, compliance, ERISA, ERISA litigation, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, investment advisers, prudence, RIA compliance, RIA risk management, wealth management, wealth preservation
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4Q 2019 AMVR Cost-Efficiency Analysis
I apologize for the delay in posting the 4Q 2019 AMVR Cost-Efficiency Analysis. I have been involved in a legal battle involving my investor advocacy/education blog, “CommonSense InvestSense.” Fortunately, the matter has been resolved and the blog is back online. … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, Active Management Value Ratio, AMVR, closet index funds, compliance, consumer protection, cost consciousness, cost-efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary standard, investment advisers, investments, pension plans, prudence, retirement plans, RIA, RIA Compliance, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, 404c, 404c compliance, Active Management Value Ratio, AMVR, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, investment advisers, investment analysis tools, pension plans, prudence, retirement plans, RIA, wealth management, wealth preservation
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Putnam Files Responsive Brief In Putnam Investments, LLC v. Brotherston
“This perverse and harmful holding has extraordinary consequences for the investment management industry, ERISA litigation, and ERISA plans as a whole.” In its rebuttal brief to the Solicitor General’s amicus brief, Putnam points out the significance of Putnam Investments, LLC … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, AMVR, compliance, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, investment advisers, investments, pension plans, prudence, RIA, RIA Compliance, risk management, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, 404c compliance, Active Management Value Ratio, AMVR, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, investment advisers, pension plans, prudence, retirement plans, wealth management
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3 Cases Every Financial Adviser, Investment Adviser and Plan Sponsor Should Know
Back in my compliance days, I was known for running a tight and tough house. But many of the brokers came to realize that that was my job, and in doing my job I was protecting them as well. As … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, asset allocation, closet index funds, compliance, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary standard, investment advisers, investments, pension plans, prudence, RIA, RIA Compliance, risk management, securities compliance, wealth management
Tagged 401k, 401k compliance, 403b, 404c, 404c compliance, asset allocation, compliance, fiduciary, fiduciary investing, fiduciary law, fiduciary standard, financial planning, investment advisers, investment analysis tools, pension plans, portfolio optimization, prudence, RIA, RIA compliance, RIA risk management, risk management, securities compliance, suitability, wealth management
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The Dangers of Living in the Land of RIA Make-Believe
The Seventh Circuit just ruled that a company could not enforce a mandatory arbitration clause in a contract because the company name in the contract did not match the company name trying to enforce the arbitration clause. So what does … Continue reading
Posted in compliance, fiduciary compliance, RIA, RIA Compliance, RIA marketing
Tagged fictitious names, RIA, RIA compliance, RIA marketing
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2Q 401(k) Top 10 Defined Contribution Funds Forensic Analysis
Each quarter InvestSense, LLC, performs an updated forensic analysis of the top ten non-index funds in the “Pensions & Investments” list of the top 50 mutual funds in U.S. defined contribution plans. InvestSense uses its proprietary metric, the Active Management … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, closet index funds, compliance, cost consciousness, ERISA, evidence based investing, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, investment advisers, investments, pension plans, retirement plans, RIA Compliance, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, 404c, 404c compliance, Active Management Value Ratio, AMVR, asset allocation, compliance, ERISA, evidence based investing, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary standard, investment analysis tools, portfolio optimization, prudence, retirement plans, RIA, RIA compliance, RIA risk management, risk management, suitability, wealth management, wealth preservation
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May It Please the Court: Justice Denied As Courts Miss the Forest for the Trees in ERISA Actions
Price is what you pay, value is what you receive. – Warren Buffett As any trial attorney will tell you, there are times when you wonder if a judge just does not understand a case or if you are just getting … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, closet index funds, compliance, cost consciousness, DOL fiduciary rule, DOL fiduciary standard, elder law, elderly investment fraud, ERISA, evidence based investing, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, financial planning, investment advisers, investments, IRA, IRAs, pension plans, prudence, retirement plans, RIA, RIA Compliance, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, 404c, 404c compliance, Active Management Value Ratio, best interests, ERISA, evidence based investing, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary standard, investment advisers, pension plans, retirement plans, RIA, wealth management, wealth preservation
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