News & Analysis as of

Financial Adviser Employee Retirement Income Security Act (ERISA)

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors should play nicely with other providers

What makes a good retirement plan financial advisor? Well, it takes attention to detail, an understanding of what the role to entails, and dedication to the client. In addition, what I find is the way a good financial advisor...more

Proskauer - Employee Benefits & Executive...

Eleventh Circuit Reiterates that Burden of Proving Loss Causation Stays with Plaintiffs

The Eleventh Circuit Court of Appeals recently affirmed a district court’s grant of summary judgment in favor of the fiduciaries of the Home Depot 401(k) plan, who defended against claims that they breached their fiduciary...more

Proskauer - Corporate Defense and Disputes

Missouri Court Enjoins Missouri’s Anti-ESG Rules for Financial Advisers

A federal district court in Missouri recently enjoined Missouri Securities Division rules that require financial firms and professionals to obtain clients’ signatures on state-prescribed documents before providing advice that...more

Proskauer - Employee Benefits & Executive...

California District Court Denies Motion to Dismiss 401(k) Excessive Fee and Underperformance Claims

A California district court recently denied a motion to dismiss claims that the fiduciaries of a 401(k) plan breached their ERISA fiduciary duties of prudence and loyalty by selecting underperforming, high-cost investments...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Plan sponsor taken off 403(b) lawsuit, advisor isn’t so lucky

A plan sponsor was spared from a 403(b) lawsuit, but the advisor is still on the hook. Two plaintiffs filed a complaint in Texas federal court against their employer, Legacy Counseling Center, Inc. the plan’s manager,...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - May 2022

Recent Changes That Plan Providers May Not Like - On Curb Your Enthusiasm, Ed Asner was a guest star, playing an elderly man who wanted to change his will. Based on a recommendation by Larry David, Ed’s character visited the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

ERISA Attorneys have to provide real value

10 years in, I’m glad I went on my own as an ERISA attorney, so I could provide value to clients, instead of being wedded to a billable hour because of a huge overhead working for a law firm....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Stick to what you know

Over the past 11 years as a solo ERISA practitioner, I always get asked if that’s all I do. It’s not some kind of insult, but a question on whether I also do financial advisory work and/or third party administration work. The...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t hire relatives as plan providers

I have some simple rules to live by. I never bet on the Mets, eat at a place called Mom’s, play cards with a guy named Doc, or do business with family....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The problem with Target Date funds are the investors that use them

A target-date fund (TDF) could be an attractive investment alternative for a participant that can’t be bothered with allocating their account balance....more

Holland & Knight LLP

Ruling: ERISA Does Not Preempt Certain State-Law Claims Against "Dual-Hat" Officers, Directors

Holland & Knight LLP on

In Halperin v. Richards, the U.S. Court of Appeals for the Seventh Circuit considered whether the Employee Retirement Income Security Act of 1974 (ERISA) preempted certain state-law corporate liability claims against officers...more

Verrill

Do you understand your Investment Policy Statement?

Verrill on

The Acme Rocket Sled Company Retirement Plan Administration Committee recently selected a new investment advisor for the company’s 401(k) plan. During the RFP process, the new advisor observed that the Investment Policy...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Some people just want it for free

I use Twitter for both business and pleasure. It’s a great way to promote all my businesses and I have developed friendships with quite a few people who are famous and many who are not....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors need to “get” plan design

In sports and in business, you’re only as good as the team that you are on. I have been on some good teams and not-so-good teams, so I know that sometimes I was only as good as an ERISA attorney if my fellow employees were...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Hire an advisor when you get an employee

I’m still amazed when I find participant-directed 401(k) plans without a financial advisor. While I understand how solo 401(k) plans don’t have an advisor because individuals think they can do it on their own, it makes no...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Never give up

If you start a retirement plan provider practice, it can be frustrating. Like I always say about things in my life, “If it wasn’t a struggle, it wasn’t any fun”. Building a retirement plan practice isn’t easy because a stash...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Stick to what you know

The law firm I started 10 years ago is actually more than 20 years old as it was a shell where I could offer legal services on the side while I did my normal day job. It was an experiment on whether I could go out on my own...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

All you need is just a little patience

I always talk about my open-door policy with financial advisors and third party advisors where I will help these plan providers out without me actively seeking their business. I kind of have that liberty because it’s my law...more

Best Best & Krieger LLP

Tips On Selecting a Retirement Plan Adviser When You Can’t Meet Them in Person

Over the past several months, we have seen a number of public agency clients struggle through the process of evaluating and selecting a retirement plan adviser based only on generic questionnaires, a few phone calls, and an...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

You need a financial advisor

I am still how often I find participant-directed 401(k) plans without a financial advisor. While I understand how solo 401(k) plans don’t have an advisor because individuals think they can do it on their own. I have a solo...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Experience can mean a lot of things

I always talk about how plan sponsors need to work with experienced financial advisors, third party administration (TPA) firms, and ERISA attorneys on their plan needs. Like with reasonable fees, I believe that the term...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

You Can Learn Something New Every Day

As an ERISA attorney, I always have an open phone policy with plan sponsors, financial advisors, accountants, TPAs, and other attorneys from around the country on questions they may have about their plan or a client’s...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

LinkedIn isn’t some sort of singles dating site

Ever since I started my law practice, LinkedIn has been a very effective tool for me in growing my business. I have been rewarded with meeting so many great retirement plan professionals that have helped me over the past 10...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The problem with plan investments and audits

Retirement plans with more than 100 participants require a CPA audit for their Form 5500. However, small plans with less than 100 participants may sometimes require an audit. This often happens when more than 5% of the Plan’s...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Retirement Plan Advisors Advantage - February 2020

The beauty of the retirement plan business is that it isn't static, it's constantly changing. One of the reasons that it constantly changes is changes in the Internal Revenue Code, ERISA, and regulations. The SECURE Act is...more

103 Results
 / 
View per page
Page: of 5

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide