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Recent Posts
- “At the Pleading Stage”: An Analysis of the Seventh Circuit’s Reconsideration of Hughes v. Northwestern University
- “Humble Arithmetic” and the Future of 401(k) Litigation
- 401(k) InvestSense: Focus on Fiduciary Process Over Product
- Brotherston Revisited: Will the 10th Circuit Court of Appeals “Fix” the Ongoing 401(k) SNAFU?
- 4Q 2022 AMVR “Cheat Sheets”: Correlation of Returns, “Closet Indexing,” and Fiduciary Liability
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Tag Archives: Active Management Value Ratio
4Q 2022 AMVR “Cheat Sheets”: Correlation of Returns, “Closet Indexing,” and Fiduciary Liability
James W. Watkins, III, J.D., CFP Board EmeritusTM, AWMATM First, note the new URL address. After years of having to explain the old “iainsight.wordpress.com” URL, we finally worked with WordPress to accomplish the re-branding. Kudos to WordPress for working with … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, Active Management Value Ratio, AMVR, closet index funds, compliance, consumer protection, cost consciousness, ERISA, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investment advisers, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement plans, risk management, SEC, securities, securities compliance, trust realtionships, wealth management, wealth preservation
Tagged 401k, 401k compliance, Active Expense Ratio, Active Management Value Ratio, compliance, costefficiency, ERISA, fiduciary, fiduciary investing, fiduciary law, investment advisers, retirement plans
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“The Lie of the Pie”: Mutual Fund Marketing “Trickeration”
by James W. Watkins, III The financial services industry likes to use charts…a lot of charts. Attorneys do not like charts. Charts can be confusing and misleading, sometimes deliberately so. One judge told me that after I had argued the … Continue reading
Posted in 401k, 401k compliance, 401k investments, Active Management Value Ratio, AMVR, asset allocation, closet index funds, clsoet index funds, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, Cost_Efficiency, ERISA, evidence based investing, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary standard, investment advisers, investments, Mutual funds, pension plans, plan sponsors, prudence, wealth management, wealth preservation
Tagged 401k, 401k compliance, Active Expense Ratio, Active Management Value Ratio, compliance, cost-efficiency, ERISA, fiduciary, fiduciary investing, fiduciary law, Mutual funds
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Redefining Fiduciary Prudence for 401(k) Plan Sponsors
by James W. Watkins, III, J.D., CFP®, AWMA® The legal requirement for prudence, as defined in ERISA Section 404(a)(1)(B), is for a fiduciary to discharge his or her duties with: “the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in a … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, AMVR, closet index funds, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, DOL fiduciary rule, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, investment advisers, investments, pension plans, plan sponsors, prudence, retirement plans, risk management
Tagged 401k, 401k compliance, Active Management Value Ratio, AMVR, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, investment advisers, plan sponsors, retirement plans
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The #Northwestern403b Decision: What Next For Plan Sponsors?
This past Monday, SCOTUS issued its much anticipated decision in Hughes v. Northwestern University (#Northwestern403b) The original issue before the Court was whether or not the plan participants had properly plead their case in their complaint. The lower courts had … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, best interest, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, Cost_Efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, investments, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, Active Management Value Ratio, cost consciousness, cost-efficiency, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary responsibility, 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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2Q 2021 Active Management Value Ratio “Cheat Sheet:” Every Picture Tells A Story
What was the fund’s stated return? At that point, many people, both investment professionals and ordinary investors, stop their AMVR analysis of the actively managed fund in question, unnecessarily exposing themselves to potential financial losses and/or legal liability. When InvestSense … Continue reading
The CareerBuilder 401(k) Decision: Three Key Lessons for Plan Sponsors and ERISA Attorneys
“If we desire respect for the law we must first make the law respectful.” Supreme Court Justice Louis Brandies Currently, we have different federal courts handing down various interpretations of ERISA. As a result, in some cases the public’s guaranteed … Continue reading
Posted in 401k compliance, 401k investments, 404c, 404c compliance, Active Management Value Ratio, AMVR, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, evidence based investing, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary standard, investment advisers, pension plans, prudence, retirement plans
Tagged 401k, 401k compliance, 404c, 404c compliance, Active Management Value Ratio, AMVR, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary standard, pension plans, prudence, retirement plans
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Plan Sponsor Special Report: 401(k) Fiduciary Liability Risk Management in a Post-Brotherston World
My firm, InvestSense, provides fiduciary oversight services to pension plans, trust, and other investment fiduciaries. One of the most requested services is a fiduciary audit, including a forensic fiduciary prudence analysis of the entity’s investments. After a recent audit, the … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, closet index funds, compliance, cost consciousness, cost efficient, ERISA, ERISA litigation, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary standard, investment advisers, investments, pension plans, prudence, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, Active Management Value Ratio, AMVR, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary standard, prudence, retirement plans, RIA risk management, risk 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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“Petition Denied”: Fiduciary Investing After Brotherston
On January 13, 2020, SCOTUS officially denied Putnam Investment, LLC’s petition for writ of certiorari to review the First Circuit Court of Appeals’ decision in Brotherston v. Putnam Investments, LLC. The First Circuit had ruled that plan sponsors have the … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, Active Management Value Ratio, AMVR, closet index funds, clsoet index funds, compliance, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary standard, financial planning, investment advisers, investments, pension plans, prudence, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, 404c, 404c compliance, Active Management Value Ratio, AMVR, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary standard, financial planning, investment advisers, investment analysis tools, pension plans, wealth management, wealth preservation
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The Prudent Investment Fiduciary Rules 
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