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Articles tagged "ERISA"


Mike Alfred: Fidelity's gone from being generous to being assured of being generous.

How exactly Fidelity Investments extracted itself from a legal and HR quagmire and why it'll cost far more than the public $12-million amount
The settlement's small print reveals Fidelity employee may receive additional hundreds of millions of dollars in value over time

Thursday 8.14.14
Philip Chao: Captain Phillips was not thinking if he should serve in the best interest of his crew ... rather, his fiduciary commitment was on autopilot.

What I learned at Putnam Investments' analyst meeting from the real Capt. Phillips
The harrowing tale of a man charged with a boat, cargo and human lives helped think about fiduciary care

Monday 4.7.14
Jacob Adamczyk: Some of them are filled with conflict because they are stuffed full of proprietary funds selected by the fund company -- if the underlying investments can be determined at all.

Why I use target date funds for some 401(k) clients in my RIA but with exaggerated scrutiny and care
The set-and-forget products have enormous potential for good but may also be a fiduciary nightmare

Friday 3.21.14
Thomas Clark: There's no liability for Fidelity, but it just doesn't look good for them.

Fidelity Investments wins huge in the 'biggest 401(k) case in decades' -- but bearing battle scars
Boston 401(k) giant is able to reverse prior judgement related to fees in landmark Tussey v. ABB

Thursday 3.20.14
Larry Deatherage: We could find 500 other participants who would counteract what was said on 'Frontline.'

How an LPL-owned 401(k) afterthought zoomed from $6.5 billion to $10 billion with help from reps -- and thinking big
The former NRP duo demurred overtures three years ago from wirehouses and big competitors and now counts Qualcomm, Petco and In-N-Out burger as clients

Thursday 11.7.13
Jeffrey Turner: I'd say it's a victory for Labor and its regs.

DOL credits itself for notable evolution in the 401(k) industry -- not without criticism
The sharks are circling after the Ayres letters caused a furor but one industry leaders says Labor's bureaucrats get a C-minus

Monday 9.9.13
Ron Rhoades: Here is the rub: the plan sponsor has great difficulty holding the "retirement plan consultant" to account, given the low standard of conduct applicable to measure the potential liability of a non-fiduciary consultant.

Legal analysis: Why the Yale 401(k) letters, limits aside, should raise an alarm to plan sponsors
Ayres may not have it all letter perfect but his basic points have a legal basis

Monday 8.19.13
Brendan Little: Litigation serves as an important deterrent by identifying and penalizing those service providers that are responsible for the egregious fees.

An attorney explains where the 'trail goes cold' in PBS' 'Retirement Gamble'
Just where the line is between a legal and illegal 401(k) plan is important to know

Tuesday 5.21.13
 Jack Waymire: How are you supposed to recall the details of a conversation that took place three years ago?

9 ways RIAs can get a leg up by using a pillar of pension plans -- a written contract
Words and a handshake are well and good, but and IPS is forever, and your client will thank you for it

Wednesday 2.20.13
Sheldon Geller: Fee-only advisors have, by their choice of compensation, eliminated most, if not all, conflicts inherent in the marketplace.

How RIAs can rule the 401(k) realm by becoming advocates for plan sponsors -- and start by eliminating eight marketplace conflicts
Brokers can still claim an edge with their knowledge of DC administrative matters but that's a bowling pin ready for the toppling

Thursday 2.14.13
Brian Davis: This isn't meant to be a deep dive, but to answer those yes and no compliance questions RIAs have on a day-to-day basis.

Scottrade proclaims itself the 'compliance custodian,' partnering with RIA In a Box and staffing a hotline with ex-regulators
But the mega-custodians are having none of it, saying the initiative is good as far as it goes, but lacks the horsepower to tackle the big questions

Friday 12.7.12
Kevin Keller: We are business-model- and compensation-neutral, but all CFP professionals are required to put client interests ahead of their own.

The once underrespected CFP gets a lift after Merrill Lynch and now NAPFA make it central for newbies
Still, CFP certificants shoot down the idea of making the CEO credits requirements even harder, and fiduciary concerns linger

Wednesday 12.5.12
Fred Reish: The object isn’t to punish people who really wanted to do the right thing.

Erring 401(k) plan advisors seek do-overs from DOL to ward off potentially crippling fines
A proposal from leading ERISA attorneys would let RIAs say mea culpa on misinterpretations and technical fouls in the wake of new fee disclosure rules

Monday 10.22.12
Joe Masterson: It's always bugged me that passive investors weren't paying their fair share.

RIAs join move to right a 401(k) wrong: Lopsided plan expenses -- a non-DOL issue
Participants using mutual funds with active management pay for their passively managed brethren; with fiduciary issues being taken for real, this is a problem

Thursday 9.20.12
Sheldon Geller: Engaging non-fiduciary consultants and relying on their advice is not evidence of prudence.

9 things advisors to 401(k) plans must do to keep clients out of hot water
A wave of fiduciary lawsuits is creating new plan best practices

Friday 7.13.12
Jason Roberts: The broker wants to make sure the advisor isn't taking the clients to lunch.

Why brokers from Nationwide, LPL, Merrill Lynch and others are giving RIAs a cut of their 401(k) action
RIAs and brokers alike are wary of the fox-in-hen-house effect but DOL is creating strange bedfellows

Tuesday 5.29.12
Debbie Pritchard: Most of the advisors we're working with are all talking to us about becoming 3(38)s.

How Schwab is gearing up its RIAs to fight for 401(k) assets
The San Francisco custodian's deal with fi360 will help advisors meet increasing demand from employers that their advisors be fiduciaries

Wednesday 5.16.12
Susan John: If no one is willing to advise the consumer of the $25K IRA, that’s a problem.

NAPFA's John responds to critic questioning her group's stance on compensation in light of new DOL rules
The national chair says the first objective is not to scare small investors away

Tuesday 4.3.12
Phyllis Borzi: It’s quite common for an entity to be subject to multiple legal regimes.  ... It’s just the way things are.

A Q&A with Phyllis Borzi, the DoL powerbroker aiming to remake the retirement market
Borzi says she is pushing through Bush administration initiatives; her expansion of the fiduciary standard is drawing ire

Tuesday 3.8.11
Don Trone: Plan sponsors want advisors who can lead the way.

7 things a financial advisor needs to know to succeed in the 401(k) business
Needy plan sponsors are green pastures for those with the right tools

Tuesday 2.23.10
Knut Rostad: Both sides have a briefcase full of examples of times where they have been unfairly maligned and misunderstood

The Fiduciary Debate: Getting past the vested interests
Industry experts draw battle lines in defining fiduciary

Friday 9.25.09




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