PLANADVISER Weekend Newsdash
Week ending March 11th, 2016
NOTE FROM THE EDITOR
Happy Friday, PLANADVISER readers. Judging by this week’s stable of top-clicked articles and the increasing amount of chatter among our trusted network of expert sources, anticipation over the pending release of the Department of Labor’s final fiduciary rule has reached a fever pitch. Our comprehensive coverage of this critically important issue can help retirement plan advisers sort out how the fiduciary redefinition will impact their firms—and what it will take to get into compliance. 
Editor's choice
Advice as a Fiduciary
“I do not provide advisory services to Employee Retirement Income Security Act participants. However, some of my clients ask me about plan distributions and individual retirement account rollovers and investments. Does the Department of Labor’s proposed redefinition of fiduciary investment advice affect me?” Trusted ERISA attorneys Fred Reish and Joan Neri consider the potentially confusing scenario.   Read more >
Effects of the Fiduciary Rule on Independent RIAs
You are a registered investment adviser who provides advisory services to retirement plans and participants and to individual retirement accounts. You are not affiliated with a broker/dealer and do not have proprietary products. How does the proposal affect your sales practices? Read more >
The New Fiduciary Rule and Annuities
The Obama Administration views how people draw down their retirement savings to be just as important as encouraging them to save in the first place. Consistent with this view, it is particularly concerned with the risk that retirees will outlive their assets and wishes to mitigate this risk by motivating plan sponsors and participants to annuitize retirement benefits. Read more >
Fiduciary Rule’s Best Interest Contract Exemption Raises Eyebrows
ERISA attorney David Kaleda considers how the DOL intends to affect adviser behavior in the retirement marketplace through a new exemption called the “best interest contract exemption,” or “BIC,” proposed along with the new regulation. Read more >
Robo Advice, Education and the Fiduciary Rule
One of the biggest challenges firms will face in implementing the DOL’s proposal is compliance with the “best interest contract” exemption. However, as proposed, that exemption specifically excludes robo-advice, defined as “investment advice that is generated solely by an interactive website in which computer software-based models or apps provide investment advice to retirement investors based on personal information each investor supplies through the website.” Read more >
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TOP 100 Retirement Plan Advisers
Noteworthy retirement plan specialists, based on number of plans and total assets under advisement.
What Is a DOL Adviser Investigation Like?
The number of Department of Labor investigations of financial advisers has steadily increased over the years; here is a primer on the DOL’s sources of authority, and what to expect when examiners come knocking.
Americans Worry About Running Out of Money in Retirement

CPA financial planners say Americans are also concerned about maintaining their lifestyle and not being able to meet rising health care costs.

Managed Account QDIA Mechanics Challenge Plan Sponsor Clients
ERISA attorneys and plan design consultants say they are hearing more questions from sponsors about using managed accounts as a plan’s default investment, but the most common use case remains opt-in managed accounts.
Court Returns Mixed Ruling in Schwab ERISA Self-Dealing Suit

The detailed ruling comes after Schwab defendants moved to dismiss in part the plaintiff’s second amended complaint. 

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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