PLANSPONSOR Weekend Newsdash
Week ending February 3rd, 2017
Happy Friday, readers! By now you’ve probably read that President Trump has signed an executive order aiming to delay implementation of the DOL fiduciary rule; while not unexpected, the order is still in a sense surprising. Many millions of dollars have been spent by providers pursuing compliance with the stricter standards set by the unraveling rule—and few would argue that the basic goal of the regulations, removing very real conflicts of interest in the advisory space, is not a worthy one. We here at PLANADVISER are left feeling deeply reflective and, frankly, a little uncertain about what is in store for advisory compensation models and the basic understanding of what constitutes conflict-free advice.
Editor's choice
Orders Emerging to Halt Fiduciary Rule and Dodd-Frank
Even before the new president’s order became public its contents were made know in the trade media: The DOL has been directly ordered to find a way to halt the implementation of the fiduciary rule. Read more >
Investment Industry Must Double Down on Fairness and Transparency
In the advisory environment of the future, technical compliance with lax conflict of interest standards does not ensure client satisfaction. The demand for transparent and conflict-free advisory models has many more proponents than the now-defunct Obama Labor Department.  Read more >
Shifting, Difficult Advisory Environment Demands a Strategic Vision
During a recent and wide-ranging conversation with PLANADVISER, executives at Lockwood Advisors, a Pershing affiliate backed by BNY Mellon, sounded unapologetically optimistic about the future prospects for registered investment advisers and their supporting service providers. Success will require new ways of thinking about the client relationship. Read more >
Disruptors Poised For Success in Retirement Space
Nearly one-third of investors globally say they would switch to Google, Amazon or Facebook for banking, insurance and financial advisory services. The research results underscore the importance of creating brand trust and establishing a sense of responsiveness and openness for customers.  Read more >
Brand Trust Dominates IRA Rollover Decision
Fees are often thought of as the prevailing factor in most retirement investment decisions, but new research suggests the destination of an IRA rollover is determined by more subtle considerations. Even as the DOL conflict of interest rulemaking fades, the twin roles of trust and transparency are increasingly important.  Read more >
Confusion Abounds After Fifth Circuit Decision Vacates DOL Fiduciary Rule

The latest decision out of the Fifth U.S. Circuit Court of Appeals throws a dramatic new element of confusion into the epic regulatory saga that has been the rollout of the Department of Labor fiduciary rule.

Nearly Three-Quarters of Boomers Want to Delay Retirement

More than three in 10 have no retirement budget.

Will SCOTUS Decide the Fate of the DOL Fiduciary Rule?

Some ERISA attorneys argue the Fifth Circuit decision last week to vacate entirely the DOL’s fiduciary rule expansion makes a Supreme Court decision on the matter inevitable; others are less sure that a decisive SCOTUS decision could be forthcoming, instead expecting the SEC to take the lead; still others admit they have little idea how the regulatory picture will shake out, recommending patience and ongoing compliance.

Many Americans Would Forego Social Security Payments for Student Loan Debt Forgiveness

The Student Security Act of 2017​ would grant $550 in student loan forgiveness for each month a student debtor was willing to raise his or her full retirement age, or $6,600 per year.

DISRUPTION: Insider Service and Strategy Talk With PGIM
In an exclusive interview with PLANADVISER, PGIM Head of Institutional Defined Contribution Josh Cohen offers some guidance to advisers speaking with plan sponsors about litigation, fiduciary risk and progressive plan design.

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

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