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Recent Posts
- Fatally Flawed: Why DOL Administrative Bulletin 2026-01 Will Not, and Should Not, Withstand Judicial Scrutiny
- Terminal Wealth: The True Fiduciary Prudence Paradigm with Regard to the In-Plan Annuity Scam
- Is the DOL/EBSA Trying to Serve Two Masters? ERISA Section 404(a)’s Independent Investigation and Evaluation Requirements and the DOL/EBSA Proposed Rule on Alternative Investments
- Much Ado About Nothing?: The DOL’s New Alternative Investment Rule vs. the Administrative Procedure Act
- Reasserting ERISA’s Private Enforcement Design: A Rebuttal to EBSA’s “Frivolous Litigation” Narrative
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Tag Archives: retirement plans
“Best Interest,” BICE and Liability Exposure for Plan Sponsors
I recently posted an article in various LinkedIn groups that addressed the need for various parties to address their duties and potential liability under the DOL’s new fiduciary standard. My comment that accompanied the post was Based on my personal … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, Compliance Gauntlet, ERISA, evidence based investing, fiduciary, fiduciary investing, fiduciary law, investment analysis tools, pension plans, retirement plans, suitability, wealth management
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Making BICE Meaningful – Reality vs. Illusion
I have had a lot of people ask me what I thought of the DOL’s new fiduciary standard. While I think there are some good points to the new fiduciary standard, in many ways the new standard reminded me of … Continue reading
Posted in 401k, 401k compliance, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, Compliance Gauntlet, ERISA, fiduciary, fiduciary investing, fiduciary law, FINRA, investment advisers, pension plans, retirement plans, RIA compliance, securities compliance, suitability
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The 401(k)/404(c) Plan Sponsor’s Achilles Heels Redux
With the effective date for the DOL’s new fiduciary standard getting closer, I have been receiving questions and calls from plans and fellow attorneys regarding the various obligations under the new standard. For that reason, I am re-posting an updated … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, investment advisers, pension plans, retirement plans, wealth management
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What the New DOL Fiduciary Standard Will and Will Not Do
As many of you may know, I released my new book on fiduciary law last week. I was immediately flooded with emails asking me why I would release the book before the DOL’s announcement. There is so much misinformation and … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans
Tagged 401k, 401k compliance, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, retirement plans
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401K Mutual Funds Fail Fiduciary Prudence Test
Our recent analysis of the top ten mutual funds in 401(k) plans revealed that 7 of the 10 funds failed to pass our simple fiduciary prudence test. The funds were evaluated based on their five-year performance between 2011-2015. The findings … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, evidence based investing, fiduciary compliance, fiduciary law, investments, pension plans, wealth management, wealth preservation
Tagged 401k compliance, 404c, 404c compliance, ERISA, evidence based investing, fiduciary, fiduciary investing, fiduciary law, financial planning, investment advisers, investment analysis tools, pension plans, retirement plans, RIA, suitability, wealth management, wealth preservation
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ERISA, Fiduciary Duty and the Art of Skinnydipping
Only when the tide goes out do you discover who’s been swimming naked. – Warren Buffett As followers of this blog know, I normally post once a month. However, I am making an exception due to the importance of the … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, evidence based investing, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, RIA, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, asset allocation, ERISA, fiduciary, fiduciary investing, fiduciary law, investment advisers, investment analysis tools, pension plans, retirement plans, RIA, suitability, wealth management, wealth preservation
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Cross-Examining Financial Planning’s Active vs. Passive Study
Financial Planning magazine recently ran an article on their online site purportedly to demonstrate that actively managed mutual funds provide better performance than passively managed mutual funds, such as the popular index funds. Whenever I see such claims, the securities … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, evidence based investing, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, ERISA, evidence based investing, fiduciary, fiduciary investing, fiduciary law, financial planning, investment advisers, modern portfolio theory, pension plans, retirement plans, RIA risk management, wealth management, wealth preservation
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Protecting Your Practice with the Active Management Value Ratio 2.0™
RIAs often have mock audits performed. These audits generally focus on the various regulatory requirements for RIA, including the various documents and internal procedures of an RIA. More often than not, these mock audits do not include a forensic fiduciary … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, evidence based investing, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, RIA, RIA Compliance, securities, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, evidence based investing, fiduciary, fiduciary investing, fiduciary law, FINRA, investment advisers, investment analysis tools, pension plans, portfolio optimization, retirement plans, RIA, RIA compliance, RIA risk management, risk management, securities compliance, suitability, wealth management, wealth preservation
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Avoiding ERISA’s #1 Fiduciary Liability “Gotcha”
Facts do not cease to exist because they are ignored. – Aldous Huxley Fiduciary law is a combination of trust and agency law. The basic rule of fiduciary law is that a fiduciary must always put their customer’s/client’s best interests … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management, wealth preservation
Tagged 401k compliance, 404c, 404c compliance, asset allocation, ERISA, fiduciary, fiduciary investing, fiduciary law, FINRA, investment advisers, investment analysis tools, pension plans, portfolio optimization, retirement plans, suitability, wealth management, wealth preservation
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Investment Industry Has Some ‘Splaining to Do
“[B]rokers’ recommendations must be consistent with their customers’ “best interest.(1) “[A] central aspect of a broker-dealer’s duty of fair dealing is the suitability obligation, which generally requires a broker-dealer to make recommendations that are consistent with the best interests of … Continue reading
Posted in 401k, 401k compliance, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, RIA, RIA Compliance, securities compliance, wealth management
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, FINRA, investment advisers, pension plans, retirement plans, RIA compliance, suitability, wealth management
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The Prudent Investment Fiduciary Rules 
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