Brexit is simply the latest manifestation of discontentment with the status quo and finger pointing. Here’s a look at the future of the EU.
Brexit: The beginning of the end of the European Union?
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Opinions
U.S. Interest Rates – Lower for Much Longer
Here is an in-depth analysis of US interest rates in the past, currently and what’s to come.
Philip Chao interviewed on DOL Fiduciary ruling for “On Pitch” Podcast
Here is a podcast Philip Chao did on the DOL Fiduciary Ruling.
“Courage Under Fire” – Fiduciary is a simple concept.
In a letter read at the end of this movie, Meg Ryan’s character essentially summarized the important duty of a fiduciary – the duty of loyalty.
Capital Preservation Options in Defined Contribution Plans
Here is a summary of capital preservation options in Defined Contribution plans.
A Response to Berlau’s “Why the DOL Rule Is Bad for Small Savers”
It is tiring to see repeatedly how the fiduciary rule is bad for small savers. After reading an article by John Berlau, I cannot resist and have commented on the WealthManagement Magazine website. My comment is below, followed by the full, reproduced article.
Best Interest Contract: “I’m From the Government, and I’m Here to Help”
The following parody should be instructive about how much the DOL has fallen short in its mission and how confusing the new BICE would be to implement and understood by the intended audience.
DOL Best Interest Contract Exemption (BICE)
Here is a detailed summary of the Best Interest Contract Exemption (BICE) included in the DOL’s final fiduciary rule.
Chao & Company’s Position Post DOL Fiduciary Redefinition
Here are some comments and key points regarding the new fiduciary rule from Chao & Company.
When it Comes to Best Interest, There is no Gray Area
ERISA has always required a fiduciary to serve “solely” in the best interest of the plan participants and beneficiaries. There should be no gray area.
DOL Redefines an ERISA Fiduciary
On April 6, 2016, the DOL issued the final rule re-defining the term “Fiduciary” under ERISA and finalized the Conflict of Interest Rule applicable to retirement investment advice. Here is a summary as well as the changes and clarifications.
Conflicted Advice is an Oxymoron – A New Day for Retirement Investors
So much has been said and fought over the U.S. Department of Labor’s (DOL) proposed expansion of fiduciary duty to advisers and their institutions since first proposed in 2010. Here we examine the rule, its exemptions and the conflict surrounding them.
Knowing Your Core Bonds in Portfolio Construction the Casey Kasem Way
The late Casey Kasem closed each of his American Top 40 radio show with “Keep your feet on the ground and keep reaching for the stars.” I am not sure how good an investor he was, but his closing statement each week summarized prudent portfolio construction perfectly – reaching for better returns should be on the shoulders of a solid foundation.
The Monkeying Around of the Chinese Currency
Here we explore the past, present and future of the Chinese currency.
Where do we go from here? It’s complicated.
There are many factors at play, but we are now again looking to the U.S. consumer as the pillar of strength to lift us out of the current malaise.
Incentive Dictates Behavior: The Fiduciary Failure at Its Core
This article discusses JP Morgan’s fiduciary failures and what we can learn from them.
Supreme Court Decision on Tibble v Edison International – No One Should Be Surprised
The Supreme Court stated that the fiduciary duty under the Employee Retirement Income Security Act of 1974 (“ERISA”) is derived from the common trust law, and its decision affirms the fiduciary duty to provide ongoing monitoring of plan assets. The fiduciary duty to...
InvestmentNews: Few target date fund managers eat their own cooking
Philip Chao was recently featured in an InvestmentNews article on how much advisers weigh a manager’s investment in his or her own fund when selecting one. Here is that article.
2015 NAPA Revenue Share Session Recording
Chao and Company previously announced that Philip Chao presented at the 2015 National Association of Plan Advisors (NAPA) 401(k) Summit. Here is a recording of his presentation.
Moving Out of the Shadows on Revenue-Sharing
Philip Chao, Principal and Founder of Chao & Company, was recently featured in a BenefitsPro article on Revenue Sharing. Here is that article.