The US Securities and Exchange Commission (SEC) has adopted a new standard called Regulation Best Interest (Reg BI) that shifts the focus on protecting customers first and foremost. Although the regulation possibly puts...more
On February 3, 2017, President Trump signed a presidential memorandum (Memorandum) ordering the U.S. Department of Labor (DOL) to review its conflict of interest rule defining the term “fiduciary” for retirement investment...more
On February 3, 2017, President Trump issued a memorandum directing the Department of Labor to prepare an updated economic and legal analysis of its “Fiduciary Rule.” Compliance with the Fiduciary Rule is generally required on...more
Under current law, stockbrokers are only required to recommend suitable investments to their clients. The Department of Labor has issued a so called “fiduciary rule” which requires brokers, advisors and insurance agents, when...more
Under ERISA and the Code, a fiduciary to a plan or IRA includes a person who renders investment advice for a fee. ERISA imposes safeguards on a fiduciary by applying standards of care and duties of loyalty and penalizing a...more
The Struggles Of Being A Retirement Plan Provider And How To Manage It. What you have to deal with. Any good retirement plan financial advisor will tell you that relationships in the retirement plan business mean...more
The New Fiduciary Rule: What It Means To Plan Sponsors - Bottom line: what does it mean? If you're a retirement plan sponsor and, unless you've been living under a rock, you've probably heard about the Department...more
On Wednesday, April 6, 2016, the United States Department of Labor (the “DOL”) released the final version of its rule imposing a “best interest” fiduciary standard on financial professionals who provide retirement savings...more
On April 6, 2016, the U.S. Department of Labor released its long-awaited and controversial fiduciary rule expanding the definition of who is a fiduciary when providing investment advice on retirement accounts. The rule aims...more