PLANSPONSOR Weekend Newsdash
Week ending March 11th, 2016
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 >
Advisers Beware and Be Cautious When Talking Taxes in 2018

During a webinar called to discuss the advisory industry impacts of the Tax Cuts and Jobs Act, experts warned advisers to be ready to decline to offer tax advice during 2018—over and over again.

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.

Three Quarters of Americans Have Not Planned for LTC Needs

Yet nearly six in 10 say saving for long-term care is a financial priority

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.

HSA Knowledge Gap Offers Clear Adviser Service Role

Health savings accounts are often described as the 401(k) of health care—so it is only natural that retirement specialist advisers can play an important role in educating the public about these important savings vehicles; survey data shows more education and advice is desperately needed. 

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

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