The Department of Labor recently abandoned its fiduciary duty rule for retirement advisers. The Department was responding to a recent Court of Appeals decision overturning the rule completely. So what does this mean for you and your investments if you are working with (or plan to work with) an advisor? Make sure you know the […]
Part I of this blog explained how the disclosure loophole in the fiduciary duty standard can swallow the duty entirely. Below is one way to protect yourself if you are working with a fiduciary or plan to work with a fiduciary advisor. What matters most to investors is their portfolio’s performance. Most investors don’t care […]
The Department of Labor has recently delayed its fiduciary duty rule for retirement advisers. I wrote favorably about the proposed rule because it puts investors’ interests first and not the profit interest of the advisor. A financial advisor without a conflict of interest seemed right to me because people are on their own to secure […]
Tony Robbins’ updated “Money Master the Game“is a passionate call to get your finances in order. He says his approach is to relay the secrets of “what the most successful investors in history believe and practice.” He relies on an all-star cast of Warren Buffet, Ray Dalio, Paul Tudor Jones, David Swensen, and John Bogle. […]
The Obama Administration proposed this summer to impose a fiduciary duty on financial advisors that provide retirement advice. This duty includes the duties of due care, loyalty, and utmost good faith when advising a client. This proposal puts investors’ retirement interests first rather than the profit interest of the advisor selling a financial product that may […]
On May 18, 2015, the Supreme Court ruled that companies offering 401k plans have a duty to select low-cost investment funds for the plan and to monitor the investments continuously and remove imprudent ones. This ruling is a huge win for 401k plan participants. I expect that within the next several months, employers offering retirement […]
On February 24, 2015, the Supreme Court heard oral arguments in a case that could alter the selection of mutual funds in your employer’s 401k plan for the better. At issue is whether a claim is barred by ERISA’s statute of limitations against an employer plan sponsor that allegedly breached its fiduciary duty of prudence […]
