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- 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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Tag Archives: risk management
Fiduciary Risk Management 101: Mutual Funds
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® With all the recent SCOTUS decision in Cunningham v. Cornell University1, there has been a lot of discussion about Prohibited Transactions and Prohibited Transaction Exemptions (PTEs). That is understandable; however, it is … Continue reading
Posted in 401k compliance, 401k investments, 401k risk management, Active Management Value Ratio, AMVR, closet index funds, compliance, cost consciousness, cost-efficiency, DOL fiduciary standard, ERISA, fiduciary liability, fiduciary prudence, wealth preservation
Tagged 401k, 401k compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary risk management, Mutual funds, risk management
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In-Plan Annuities and Fiduciary Risk Management: Guaranteed Income vs. Commensurate Return
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® A common question I am receiving is “What are the fiduciary liability issues with in-plan annuities?” A reccent LIMRA study found that plan sponsors are citing a desire to provide retirement income … Continue reading
Posted in 401k, 401k risk management, Annuities, consumer protection, 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, pension plans, prudence, risk management
Tagged 401k, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary litigation, fiduciary loyalty, Fiduciary prudence, fiduciary responsibility, retirement plans, risk management
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Thinking in Bets: Using Behavioral Psychology to Improve Fiduciary Prudence
By James W. Watkins, III, J.D., CFP Board Emeritus™, AWMA® My decision to transition into fiduciary risk management was based largely on my love of the law and psychology. My minor in college was psychology, with a focus on cognitive … 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, Annuities, cost consciousness, cost-efficiency, defined contribution, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, Mutual funds, pension plans, plan advisers, plan sponsors, retirement plans, risk management
Tagged 401k, 401k compliance, 401k risk management, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary responsibility, investment advisers, retirement plans, risk management
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No Bonus Points for Complexity: Simplifying Fiduciary Risk Management
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® I was at a professional reception over the holidays when someone introduced themselves and asked the “what do you do for a living” question. The rest of the conversation went something like … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k risk management, 403b, Active Management Value Ratio, AMVR, Annuities, consumer protection, cost consciousness, cost-efficiency, defined contribution, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, pension plans, plan advisers, plan sponsors, prudence, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k fiduciary, ERISA, fiduciary, fiduciary duty, Fiduciary prudence, retirement plans, risk management
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“Knew or Should Have Known: Annuities, Plan Sponsors, and Fiduciary Law – Part 2
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® In Part 1 of “Knew or Should Have Known”: Annuities, Plan Sponsors, and Fiduciary Law,” I examined the basic structure of fiduciary law and some of the potential fiduciary liability issues posed … 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, Annuities, compliance, cost consciousness, cost efficient, cost-efficiency, 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, investment advisers, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement plans, risk management, SCOTUS, Supreme Court, wealth management
Tagged 401k, 401k compliance, 401klitigation, 404c compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary loyalty, Fiduciary prudence, fiduciary responsibilities, fiduciarylitigation, investment advisers, retirement plans, risk management
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Annuities, SECURE 2.0, and Fiduciary Law
While there has been much speculation and anticipation about the possible passage of SECURE 2.0, the recent events involving cryptocurrency, reportedly a major component of SECURE 2.0, appears to make its passage before the end of the year doubtful. The … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Active Management Value Ratio, Annuities, compliance, cost-efficiency, elderly investment fraud, 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, pension plans, plan advisers, plan sponsors, prudence, retirement planning, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, Annuities, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary responsibility, fiduciary risk management, investment advisers, retirement plans, risk management
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Fiduciary Risk Management and Liability-Driven 401(k) Plan Design
by James W. Watkins, III, J.D., CFP®, AWMA® I have written several posts on this blog critiquing the Sixth Circuit’s decision in Smith v. CommonSpirit Health (CommonSpirit). The decision, particularly the court’s “apples and oranges” argument is inconsistent with the … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Active Management Value Ratio, AMVR, 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 risk management, fiduciary standard, investment advisers, investments, Mutual funds, pension plans, plan sponsors, prudence, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401k risk management, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary risk management, investment advisers, retirement plans, risk management
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The Conversation Every 401(k) and 403(b) Plan Needs to Have: The Plan Sponsor Liability Circle™
James W. Watkins, III, J.D., CFP®, AWMA® Whenever plan sponsors and plan advisers talk about 401(k) litigation, they always point the finger at those bad ‘ol ERISA plaintiff attorneys. Since I am one of those bad folks, I respectfully disagree … 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, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investment advisers, Mutual funds, pension plans, plan sponsors, prudence, Reg BI, retirement planning, retirement plans, risk management, securities compliance
Tagged 401k, 401k compliance, 401k risk management, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, retirement plans, risk management
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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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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 Prudent Investment Fiduciary Rules 
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