Former Assistant Secretary of Labor Joins D.C. Law Firm

Schiff Hardin LLP has announced that former assistant secretary of labor for employee benefits Bradford P. Campbell joined the firm’s Washington, D.C., office in the Employee Benefits and Executive Compensation and ERISA Litigation groups.

The firm said in a press release that Campbell’s experience as ERISA’s former top enforcement and regulatory official will add significant value for Schiff Hardin’s clients. “Brad’s experience and skills add real value for our clients, and he is a great addition to our Employee Benefits and Litigation groups,” said Robert H. Riley, chairman of the firm.

Campbell has held a number of other senior positions in the government, including deputy assistant secretary of labor for employee benefits; senior legislative officer for the Department of Labor; legislative director for then-Congressman Ernest Fletcher; and senior legislative assistant for then-Congressman Christopher Cox, later chairman of the Securities and Exchange Commission (SEC).

Schiff Hardin listed the following accomplishments by Campbell while serving as assistant secretary:

  • orchestrated implementation of the most sweeping changes to pension regulations in 30 years (see “What’s Inside the Pension Protection Act”), issuing nearly 30 regulations and major guidance documents;
  • administered an enforcement program resulting in more than $2.6 billion in monetary results and more than 200 criminal indictments;
  • issued final regulations establishing qualified default investment alternatives (QDIAs) to facilitate automatic enrollment in defined contribution plans (see “Got QDIA Questions? DoL Has Answers”);
  • issued final regulations improving participant access to professional investment advice (see “DoL Finalizes Investment Advice Rule”);
  • issued final regulations requiring enhanced and electronic disclosure of plan expense and fee information on the Form 5500 Schedule C;
  • directed policy in major litigation, including filing amicus briefs in RILA v. Fielder and LaRue v. DeWolff;
  • negotiated with Congress to modify final genetic discrimination and mental health parity legislation; and
  • issued final HIPAA regulations governing wellness programs and nondiscrimination requirements.

Schwab Adds Client Feedback Tools

Schwab Advisor Services unveiled enhancements, including a waiver of fees for its merger and acquisition listing service, an online version of its Scorecard tool, and a new client feedback product.

The firm said the most recent updates to its Business Consulting Services include:

  • an online Technology Adoption Scorecard that gives advisory firms an interactive tool to track and measure employee adoption of Schwab’s online tools—including cashiering, online account open, eConfirms, eStatements, alerts, and trading—and features a number of new capabilities for advisers. The product was originally launched in hard copy in 2008. The new features available in the online Scorecard include easier access to technology-related resources, tools and training via direct links from the Scorecard, and information that details where a firm is below adoption benchmarks based on other firms’ usage of different technologies.
  • Schwab’s Mergers & Acquisitions Listing Service, which in the past has carried a fee for advisers, is now being offered at no cost for all advisers that custody with Schwab. The service is an online database that connects advisory firm buyers and sellers and enables advisers to maintain anonymity while soliciting interest and collecting information from other advisory firms about acquisitions, mergers, or sales.
  • A new partnership with Advisor Impact that gives advisers preferred pricing on a variety of tools and resources, including its client feedback tool, Client Audit: Enterprise, which helps measure client loyalty and uncover referral opportunities.

Schwab announced in June that it would temporarily waive commissions on electronic equity trades and reimburse transfer of account fees charged by contra brokers for new-to-Schwab clients of independent investment advisers (see “Schwab Waives Some Fees, Plans to Add Tools for RIAs“).

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