Fiduciary Issues



“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. 

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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.

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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.

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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.

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Chao & Company’s Position Post DOL Fiduciary Redefinition

Here are some comments and key points regarding the new fiduciary rule from Chao & Company.

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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.

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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.

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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.

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Captain Phillips is Not a Hero. He is a Fiduciary.

This article depicts a comparison Philip makes after hearing a speech by Captain Phillips with regards to a fiduciary standard in the investment world as well trust and duty in this maritime situation.

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Whack-A-Mole: Fiduciary Considerations in Plan Fees

Using revenue generated from investment vehicles to offset retirement expenses is a fiduciary decision, and far too many plan sponsors are not aware of the decision being made on their behalf.  Unsuspecting plan sponsors believe that their retirement plan is “free” while all along the plan is paying all expenses through the use of revenue paying investment vehicles.

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InvestmentNews: One case shouldn’t stand in the way of an ERISA fiduciary standard

Philip Chao recently published an article for InvestmentNews on the DOL Investigation of Matthew D. Hutcheson and its implications for the fidicuary standard. Here is that article.

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