Week of April 07, 2017
NOTE FROM THE EDITOR
Happy Friday, readers! The biggest news of the week was the decision by the Department of Labor to delay the new fiduciary rule by 60 days. Thus, rather than taking effect this coming Monday, April 10, it will take effect on Friday, June 9. However, given the tenor of the Trump administration and the president’s predilection for fewer regulations, it is possible that it could still be shelved altogether. That could potentially be very unfortunate for investors, as a coalition of consumer groups maintains that without the fiduciary rule, investors are being overcharged by unscrupulous advisers to the tune of $17 billion a year.
EDITOR'S CHOICE
Compliance
DOL Delays Fiduciary Rule by 60 Days
The Department is making the move in response to the Trump memorandum.
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Compliance
Consumer Groups Vow to Continue Fighting for Fiduciary Rule
Their “Retirement Ripoff Counter” shows that without the protections of the fiduciary rule, investors are losing $1.9 million an hour, $46 million a day—and $17 billion a year.
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Compliance
Coalition Deploys to Defend Retirement Savings
An organization comprised of industry advocates and businesses is set out to expand Americans’ access to retirement plans and protect the system’s retirement tax incentives.
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Compliance
EBRI Calls for Auto Plan Portability
If workers could automatically roll their 401(k) plan over to a new employer, the Institute says this could generate an additional $2 trillion in retirement savings.
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Practice Management
B/Ds That Support Advisers Boost Adviser Productivity
Their practice management programs also help attract and retain advisers.
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MOST POPULAR STORIES
Compliance
Court Finds Intel Alternative Investment Suit Time-Barred
The lawsuit claimed the defendants breached their fiduciary duties by investing a significant portion of the plans’ assets in risky and high-cost hedge fund and private equity investments through custom-built target-date funds.
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Compliance
Jackson National Target of DC Plan Self-Dealing Suit
The lawsuit says disclosures show the proprietary funds used in the DC plan lineup were far more expensive than comparable funds and underperformed their benchmarks.
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Data and Research
Few Boomers Believe Savings Will Last Throughout Retirement
Working with a financial adviser increases confidence, an IRI survey found.
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Data and Research
Is 70 the New 65?
Nearly one-third of those 60 and older are planning to stay in the workforce until age 70.
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Deals and People
Retirement Industry People Moves
Arnerich Promotes Senior Consultant; AssetMark Hires Chief Information Officer; LMGC Expands Advisory Space; and more.
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
Advertising: Paul Zampitella paul.zampitella@strategic-i.com
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