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 >
MOST POPULAR STORIES
6th Circuit Backs Defense in Fidelity Freedom Funds ERISA Suit

One expert who works on the fiduciary insurance side of the retirement plan industry calls the appellate ruling ‘the best decision ever written in an excessive fee case,’ and one which could dissuade other plaintiffs in similar cases.

Ready for PTE 2020-02 July 1 Enforcement?
The July 1 enforcement date for the Department of Labor’s new best-interest rollover documentation requirements has been widely publicized, but that doesn’t mean all advisers are ready.
Retirement Industry People Moves

The Retirement Advantage hires veteran financial professional, while AssetMark will acquire Adhesion Wealth.

Olin Corp. Soundly Defeats ERISA Lawsuit

The judge’s opinion sides firmly against the arguments made by the plaintiffs in the case, who are among the many litigants currently represented by the law firm Capozzi Adler.

Significant Retirement Bill Moves Forward in Senate

Sources say the Senate HELP Committee’s measure, called the RISE & SHINE Act, is expected to be combined with a Finance Committee measure into one Senate bill, which will then need to be reconciled with House-passed legislation.

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