Regardless if your clients are plan sponsors or individuals who invest in their retirement accounts, as the advisor you can be a great fiduciary by helping them to achieve their goals. You can accomplish this by diligently reviewing plan options, finding a more affordable plan
If you are a plan fiduciary, then under the Employee Retirement Income Security Act of 1974 (ERISA), fiduciaries can be held personally liable for losses to a benefit plan incurred as a result of their alleged errors or omissions or breach of their fiduciary duties.
Traditionally, courts and the DOL find some key elements to be most important, in regard to facts and circumstances presented by advisors in their attempts to make prudent decisions. In particular, a financial advisor should reasonably conclude that their report can create a documented record
Original Article from Javier Simon at PlanAdviser can be read HERE
The checklist covers various fiduciary responsibilities including those not associated with supposed delays or changes to the fiduciary rule, RiXtrema says.
Risk management tools and resources provider RiXtrema has released its DOL Fiduciary Rule Checklist to help advisers comply
By Guest Bloggers, Robert L. Sichel and Amanda M. Katlowitz of K&L Gates
According to the Investment Company Institute, at the end of the first quarter of 2017, assets in IRAs and defined contribution plans totalled $8.2 trillion and $7.3 trillion, respectively.1 Under the Department of Labor’s
Is it important to factor in safety from creditors during a 401(k) rollover? How safe was the money in the 401(k) and how safe will it be in an IRA? How important is it to consider this as a financial advisor?
What is protected in a
For those participating in the financial advice industry, it might seem like living out the movie Groundhog Day. Except instead of Bill Murray, the star of the movie is Alexander Acosta. Constant news of delays, new legislations that attempt to repeal the rule, repeated comment
How does the DOL Rule Affect Me?
Do I have to document best interest when doing rollovers?
Effective June 9, 2017, financial advisors who provide investment advice to retirement plan participants have to adhere to the Impartial Conduct Standard. The standard essentially stipulates the following:
Best interest standard
What June 9th DOL Rule Date Means For You: How to Not Be a Low Hanging Fruit for Litigation Attorneys
On May 22, Secretary of Labor Acosta confirmed something that we argued since the DOL Fiduciary Rule got delayed in March. Specifically, he said that June