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Recent Posts
- 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
- The DOL’s Pizarro v. Home Depot Amicus Brief: Borzi and Gomez Don’t Live Here @ EBSA Anymore
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Tag Archives: Fiduciary prudence
“Meaningful Choices”: Cost-Efficiency, the CommonSpirit Health decision, and the Future of 401(k) Litigation
Recently, the Sixth Circuit handed down its decision in the Smith v. CommonSpirit Health (“CommonSpirit) 401(k) action.1 My immediate reaction was “hello again SCOTUS,” as once again we have inconsistent and irreconcilable rulings between two circuits involving ERISA litigation The … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, AMVR, best interest, closet index funds, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, 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, Reg BI, wealth management, wealth preservation
Tagged 401k, 401k compliance, compliance, cost-efficiency, ERISA, ERISA litigation, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, investment advisers, plansponsors, retirement plans
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Caveat Fiduciarius: The Reg BI “Reasonably Available Alternatives”/ERISA “Fiduciary Prudence” Liability Trap
I am on record as saying that (a) ERISA plaintiff’s attorneys should never lose a properly vetted 401(k)/403(b) action, and (b) the amount of 401(k)/403(b) litigation is going to continue to increase. Those opinions are based on three trends within … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, best interest, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, 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, Reg BI, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, best interests, compliance, ERISA, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, Fiduciary prudence, fiuciary responsibility, investment advisers, InvestSense, plan sponsors, Reg BI, retirement plans
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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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1Q 2022 AMVR “Cheat Sheets”
On the 5-year cheat sheet, only one fund, Dodge & Cox Stock (DODGX), posted positive incremental returns on both nominal and risk-adjusted returns. While DODGX passed the AMVR screen on nominal returns, the fund failed to pass the AMVR screen … Continue reading
Posted in 401k, 401k compliance, Active Management Value Ratio, cost efficient, cost-efficiency, DOL fiduciary standard, ERISA, fiduciary duty, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, pension plans
Tagged fiduciary, fiduciary investing, Fiduciary prudence, fiduciary responsibility, wealth management, wealth preservation
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Connecting the Dots: Correlation of Returns and Fiduciary Prudence
With SCOTUS’ recent decision in Hughes v. Northwestern University1, we now have what I like to refer to as the “fiduciary responsibility trinity” (Trinity). The Trinity consists of the Tibble v. Edison International2 (Tibble), Brotherston v. Putnam Investments, LLC3(Brotherston), and … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, closet index funds, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, pension plans, prudence, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary responsibility, investment advisers, 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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3Q 2021 Top Ten 401(k) AMVR “Cheat Sheet”
When InvestSense prepares a forensic analysis for a 401(k)/403(b) pension plan, a trust, an attorney, or an institutional client, we always do an analysis over five and ten-year time periods to analyze the consistency of performance. Since so many social … Continue reading
Posted in 401k, 401k investments, Active Management Value Ratio, AMVR, asset allocation, consumer protection, cost consciousness, cost-efficiency, Cost_Efficiency, Fiduciary prudence, fiduciary responsibility, financial planning, prudence, retirement planning, wealth management, wealth preservation
Tagged 401k compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, Mutual funds, retirement plans, wealth management, wealth preservation
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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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Modern Portfolio Theory, the Prudent Investor Rule and Fiduciary Investing
Given the volatility of today’s stock market, the subject of fiduciary investing is a timely topic. A fiduciary relationship creates the highest duty imposed by law, requiring that a fiduciary always put a client’s interests first and act solely on … Continue reading
Posted in 401k, Active Management Value Ratio, AMVR, DOL fiduciary rule, DOL fiduciary standard, ERISA, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, fiduciary standard, prudence, wealth management, wealth preservation
Tagged ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility
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Back to the Future, Investment Fiduciary Style
With the Supreme Court’s new term scheduled to begin in a few days, we move closer to the Court hearing the Northwestern University 403b case. I believe that this case has the potential to be a landmark case, not just … Continue reading
Posted in 401k, 401k investments, 403b, Active Management Value Ratio, ERISA, ERISA litigation, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, fiduciary standard, pension plans
Tagged 401k, 401k compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary responsibility, fiduciaryliability
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The Prudent Investment Fiduciary Rules 
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