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Recent Posts
- 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
- 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
The Prudent Investment Adviser Rules
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Tag Archives: securities compliance
The Investment Adviser’s Achilles’ Heel v. 2.0
The Securities and Exchange Commission (SEC) recently released a notice regarding the use of testimonials and social media. Investment advisers are generally prohibited from using client testimonials. While the SEC has allowed the use of third-party ratings as long as certain requirements are met, … Continue reading
THE Key Factor in Liability Risk Management
I was at a conference recently to serve on a panel to discuss various fiduciary issues, including FINRA Regulatory Notice 12-25 and the universal fiduciary standard. When I am at a conference, I rarely attend other presentations for the very … Continue reading
Posted in 401k compliance, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, RIA Compliance, securities compliance, wealth management, wealth preservation
Tagged 401k compliance, 404c compliance, compliance, fiduciary, fiduciary law, FINRA, investment advisers, portfolio optimization, RIA compliance, RIA risk management, risk management, securities compliance, suitability, wealth management, wealth preservation
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Quantum Meruit and “Other” Compliance Challenges
When I was a compliance director, my biggest frustration was not being able to share certain legal information with the broker-dealer’s registered representatives and those who maintained independent RIAs. I understood the BD’s position, namely that volunteering such information potentially … Continue reading
Posted in compliance, fiduciary compliance, fiduciary law, investments, RIA, RIA Compliance, securities, securities compliance, wealth management, wealth preservation
Tagged compliance, Compliance Gauntlet, fiduciary, fiduciary law, investment advisers, modern portfolio theory, RIA, RIA compliance, RIA risk management, risk management, securities compliance, wealth management, wealth preservation
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2014 – Brave New Fiduciary World
2014 promises to be a important year for fiduciary liability issues. ERISA advisers, sponsors and attorneys await the Court of Appeals’ decision in Tussey v. ABB,Inc. and its impact on fiduciary issues such as prudence, loyalty and due diligence. If … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, pension plans, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary law, FINRA, investment advisers, pension plans, RIA compliance, securities compliance, wealth management
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Creative Chaos – Creating a Win-Win Situation for Investors and Investment Advisers
Having been involved in the quality of investment advice arena for twenty-five years in some capacity (e.g., securities attorney, RIA consultant, B/D compliance director), I have seen numerous changes in both the industry and the surrounding legal/regulatory environment. There is … Continue reading
Posted in 401k, 401k compliance, 401k investments, compliance, fiduciary compliance, fiduciary law, investments, retirement plans, RIA, RIA Compliance, securities compliance
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary law, FINRA, investment advisers, investment analysis tools, RIA, RIA compliance, RIA risk management, risk management, securities compliance, suitability
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Beware the “We’re #1” Trap
Michael Kitces recently posted an article about a proposed publication that would provide client reviews of their financial advisors. For those of you who do not follow Michael, you should do so. Michael is recognized as an industry leader. I … Continue reading
Upon Further Review: Do We Already Have a Universal Fiduciary Standard?
The debate over a universal fiduciary standard for the financial services industry continues. To date, as John Adams lamented in “1776,” “piddle. twiddle and resolve, not a damned thing do we solve.” Several studies have conclusively shown that the American … Continue reading
Posted in 401k, 401k compliance, 404c, 404c compliance, compliance, fiduciary compliance, fiduciary law, investments, retirement plans, securities compliance
Tagged 401k, 401k compliance, 404c, 404c compliance, compliance, ERISA, fiduciary, fiduciary law, FINRA, retirement plans, securities compliance, suitability
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How “Safe” Are ERISA 401(k)/404(c) Safe-Harbors?
Like so many others, I provide consulting services to pension plans. Unlike others, I focus on the risk management aspect of pension plans instead of the fundamental, or administrative, aspects of a plan. I chose to focus on the risk … Continue reading
Posted in 401k, 401k compliance, 401k investments, 404c, 404c compliance, fiduciary compliance, fiduciary law, investments, retirement plans, securities
Tagged 401k, 401k compliance, 404c, 404c compliance, ERISA, fiduciary, fiduciary law, investment advisers, investment analysis tools, retirement plans, risk management, securities compliance
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Has Schwab Opened Pandora’s Box for RIAs? – Part Two
In a recent post, I suggested that the recent court decision upholding Schwab’s class action waiver in customer’s contracts could have potential liability implications for RIAs and other fiduciaries that recommend or use Schwab, or for that matter any other … Continue reading
Fiduciaries, We Ain’t No Stinkin’ Fiduciaries: Help for Fiduciaries and Unsuspecting Fiduciaries
As a securities attorney that represents investors and provides consulting and compliance services to RIA firms, I can honestly say that one of the most common problems I encounter with RIA firms is a failure to develop an effective risk … Continue reading
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