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Articles tagged "Drinker Biddle & Reath"


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Ron Rhoades: Here is the rub: the plan sponsor has great difficulty holding the "retirement plan consultant" to account, given the low standard of conduct applicable to measure the potential liability of a non-fiduciary consultant.
August 19, 2013 at 5:27 AM

Ian Ayres has stirred up a serious hornet's nest from New Haven.

401(k) industry flummoxed over Yale professor's 6,000 'threatening' letters to plan sponsors

The eclectic academic says he'll go public targeting alleged 'high-cost plans' as sponsors flood phone lines of advisors and recordkeepers and Brightscope is drawn into the fray

July 18, 2013 at 5:01 PM

Phyllis Borzi: We thought we hadn't done enough.

Borzi: Exemptions from conflict of interest will be part of new fiduciary proposal

An easing of the ban against advisors accepting payment from money managers for selling their products may be in the works

May 7, 2013 at 3:14 AM

Scott Hanson: We think this is the biggest thing we’ve done.

New RIA with familiar faces gets running start at putting advisors into the 401(k) driver's seat

Two financial entrepreneurs have 50 firms on board; the idea is for Pathway Strategic Advisors to take the fiduciary burden off of advisors who handle 401(k) assets for clients

February 21, 2013 at 5:42 PM

What a wave of 401(k) lawsuits tell us about what RIAs really need to worry about

Plaintiff's attorneys have found the soft underbelly of advisors and plan sponsors, but the pitfalls are clear and avoidable

October 25, 2012 at 4:12 AM

Dorann Cafaro: We should be worried.

Big chill: Worried RIAs and other 401(k) leaders gather in Chicago in hopes of saving the goose

It's no sacred cow like Social Security and the industry image is laboring because saving rates, returns, hidden fees and enrollment levels are none too great

October 23, 2012 at 3:33 AM

Fred Reish: The object isn’t to punish people who really wanted to do the right thing.

Erring 401(k) plan advisors seek do-overs from DOL to ward off potentially crippling fines

A proposal from leading ERISA attorneys would let RIAs say mea culpa on misinterpretations and technical fouls in the wake of new fee disclosure rules

October 22, 2012 at 3:02 AM

Joe Masterson: It's always bugged me that passive investors weren't paying their fair share.

RIAs join move to right a 401(k) wrong: Lopsided plan expenses -- a non-DOL issue

Participants using mutual funds with active management pay for their passively managed brethren; with fiduciary issues being taken for real, this is a problem

September 20, 2012 at 5:01 AM

Ray Lucia: I removed the slides that are in question from my seminar presentation.

With SEC coming down hard, TV and radio star RIA principal in San Diego makes his case to listeners

The commission says Ray Lucia back-testing is questionable but some high-profile defenders take his side

September 19, 2012 at 4:28 AM

David Witz: It could be fireworks for the RIA community or just another compliance fizzle.

A 401(k) plan dethroning deferred: The DOL-mandated disclosures may not set any legacy palaces on fire near-term

The expected RIA field day and B-D comeuppance may come limping out of the gate; Fidelity has put 17 million 401(k) disclosures in the mail with few follks batting an eye -- with high-balance participants as the possible big exception

August 28, 2012 at 3:33 AM

Phil Chiricotti: The DOL went off the reservation...They backed off and damaged their credibility.

What to make of DOL's backtrack after John Kerry, Fidelity Investments and the rest of the riled 401(k) industry cried foul

The policy reversal on on self-directed accounts is a win for white-collar workers but the agency's mandating-by-bulletin was equally troubling to some observers

August 1, 2012 at 6:10 AM

 Phil Chiricotti: It's a needless requirement that just can't be met.

New DOL rule effectively kills off open-architecture option favored by some big plan participants -- and sets off the 401(k) industry

The wrinkle aimed at self-directed accounts is seen as an unnecessary eleventh hour blindsiding by Fidelity, TD and the CFDD among a broad constituency

June 20, 2012 at 5:44 AM

Lou Harvey: The rules on the participant side are a joke.

After years of DOL bluster, new 401(k) rules appear to make RIAs' low expenses look higher than those of brokers

It's the same old problem of mutual fund-paid fees arriving by tunnel and therefore getting a pass in disclosures; DOL no-comments the issue

June 18, 2012 at 3:28 AM

Lou Harvey: It's really going to annoy the hell out of the plan sponsors.

Which three of DOL's new 401(k) rules represent the biggest land mines for financial advisors and plan sponsors

Accepting gifts, estimating fees and using asset allocation models all demand treading lightly

February 14, 2012 at 6:06 AM

Fred Reish: Before, the statement said that you should consider firing the provider but now it's very clear that it's mandated.

DOL tells employers when they must fire advisors to 401(k) plans

The new teeth in the rules went unnoticed by many people amid other changes

February 10, 2012 at 5:26 AM

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