Fiduciary Advice Regulations
What Are Your Questions Regarding the New 401(k) Advice Proposal?
Since the DoL’s new 401(k) advice regulations were submitted on February 26th, what are your biggest questions? The most commonly discussed questions have included the following:
Read MoreVideo: Jason Roberts on 401(k) Fee Disclosure 408(b)2 Regulations
Our friend Jason Roberts of Reish and Reicher was recently interviewed on Dow Jones NewsWires regarding the proposed 408(b)2 regulations (fee disclosures/conflicts of interest), and what they mean for both employers and 401(k) advisors.
Read MoreFiduciary360 on Fox Business Regarding Financial Regulation
Our friend Blaine Aikin of Fiduciary360 was featured today on Fox Business regarding Senator Dodd’s financial regulation bill. While the bill is not all it could be, it is viewed as a step in the right direction by Blaine.
Read More18 Minutes on the New DoL 401(k) Advice Proposal
Our friend Jason Roberts, Partner at Reish and Reicher, has been closely monitoring the regulatory developments of 401(k) advice since the passage of the Pension Protection Act of ’06. The link below provides a brief, yet detailed overview of the regulations and what employers and advisors should take into consideration when it comes to the advice 401(k) investors receive. It is definitely worth the time.
Read MoreNew 401(k) Advice Rules Set By End of February
The Department of Labor has declared their hopes for releasing the provisions for 401(k) advice by the end of February. Fair warning: The PPA was passed 4 1/2 years ago, and they still have not finalized said provisions. However, after the DoL was a bit embarrassed by the industry backlash by the legal, consumer protection and fiduciary experts, I actually feel optimistic they will get it right this time. In reading Phyllis Borzi’s comments below, we are hopeful the provisions will look something like this:
Read MoreREGULATION: New deadline granted for advice bill
After throwing the early ’09 DoL proposal in the trash, which would have allowed for conflicted advice to be delivered to 401k investors, there is some urgency in getting this done. Fast. And right.
Read MoreYouTube: 401(k) Fair Disclosure for Retirement Security Act of 2009: Rep. Miller
How picky is picky? Advice regs an unknown – Investment News
A hybrid of these regulatory offerings could be just want investment-advice-hungry 401(k) participants ordered, but we will have to wait and see.
Read MoreWhich Standard? Suitability or Fiduciary? Sign the Petition
There is a red-hot debate taking place over the difference between a broker’s suitability standard versus investment advisor’s fiduciary standard. It has been well publicized, as last year’s financial meltdown has caused many people to reconsider how they are getting their advice, as well as whether it’s truly in their best interest.
Read MoreThe “F” Word is Getting a Lot of Attention
The system would feed articles and news regarding these topics to me once a week. On average, I would get 2-5 decent articles per month. Fast forwarding to the past 12 months, I have had to change the frequency to daily so not to be buried by information overload. On Monday alone, there were 10 and that has been consistent for the past year. The point is that the interest in fiduciary responsibilities and best practices in light of the recent market volatility has never received so much attention by the media.
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