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With the DOL's new rule 95% likely to get finalized, RIAs need to be wary -- it targets them with new letter-of-the-law ERISA red tape

Right now, most RIAs recommend IRA rollovers without having to jump through a lot of hoops, but DOL's 'exemption' makes a federal case out of suggesting the move away from the protection of the employer’s plan

Author Jason Roberts, Guest Columnist July 14, 2020 at 7:21 PM
1 Comment
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Jason Roberts: The penalties are set in stone.

401(k) Stories

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RIA Compliance


Brian Patrick Murphy

Brian Patrick Murphy

July 15, 2020 — 7:20 PM
This type of regulatory oversight points to a need for the industry to rethink their standard business models. Specifically the DOL is obviously targeting "asset capture" programs here. If the advisory industry as a whole were to prioritize their fiduciary obligation to clients over fees, these types of regulations would be superfluous. I would suggest the way forward is to stop building "work-arounds" and rethink the problem with a fresh sheet of paper. For example, if the advisory business model didn't provide an incremental benefit to the advisor for rolling over old 401(k)s, this issue goes away.

Related Moves

November 18, 2022 at 2:56 AM


Mentioned in this article:

Pension Resource Institute, LLC
Compliance Expert
Top Executive: Jason C. Roberts

Fiduciary Law Center
Legal Services for RIAs
Top Executive: Jason C. Roberts



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