PLANADVISER Weekend Newsdash
Week ending March 16th, 2018

Greetings and happy Friday! Regular readers of our daily news coverage will no doubt be familiar with the enormous amount of uncertainty that has become the norm in the retirement planning community—centered on the ever-shifting outlook for the DOL fiduciary rule, the unfolding impact of tax reform, a shifting health care landscape, and so many other avenues. This week’s conflicting Tenth and Fifth Circuit Court rulings on the fiduciary rule implementation drive the point home quite nicely. But one thing that should also be clear is that the fundamentals of client service remain remarkably stable over time. Collected below is a helpful series of articles and research, identifying the pillars of customer service. We hope you will share some of what you read with a client or colleague!

Client Service Amid Fiduciary Uncertainty
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. Read more >
DOL Fiduciary Rule Gets Another Successful Defense in Appeals Court
The appellee, Market Synergy Group, argued unsuccessfully that its representatives would never be able to make the Best Interest Contract Exemption, a key mechanism underlying the new DOL fiduciary rule, workable. Read more >
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. Read more >
FINRA Rep Monitoring Rule Change Could Trigger RIA Compensation Renegotiation
The regulator is reassessing its requirements for RIAs to monitor the outside business activities of their reps; one experts argues it is likely that, if the final rule reflects the proposed rule, many plan advisers who serve plans through an independent RIA (as opposed to the broker/dealer’s “corporate” RIA) will seek to renegotiate their compensation arrangements relating to their independent RIA revenue. Read more >
DISRUPTION: 3(38) Market Leader CAPTRUST Talks Growth Trends
“If the whole DC plan advisory industry could have a do-over from say, 20 years ago, I think there would probably be much more of an emphasis from a lot of different firms on the 3(38) arrangement,” says CAPTRUST CEO Fielding Miller; in an exclusive interview, he describes in detail the firm’s success building scale in the 3(38) fiduciary advice market. Read more >
Using Data to Determine the Best QDIA for Your Clients
A paper from Morningstar Investment Management lays out a framework for advisers and plan sponsors to determine the qualified default investment alternative (QDIA) that is the best fit for a plan’s demographics. Read more >
MOST POPULAR STORIES
SECURE Act Ensnared in Senate After Flying Through House
Washington insiders say Senator Ted Cruz is probably the biggest roadblock to the SECURE Act being passed in the near-term under unanimous consent; among other issues, he wants the bill to allow people to use tax-advantaged 529 college savings accounts to pay for home school expenses.
Newly Allowed 401(k)s Will Need Advisers
Advisers may shy away from helping hemp and CBD companies with their 401(k)s because they may find themselves crossing into advising for a cannabis company as well, but there are protections—and money to be made.
Dow, DuPont and Corteva Sued for Allegedly Ducking Pension Obligations

According to plaintiffs in a new ERISA lawsuit, the pension plan in question was underfunded by nearly $6 billion dollars when its assets and liabilities were transferred to a spinoff company.

Wells Fargo and Principal Can Learn From John Hancock-New York Life Deal

The recently finalized acquisition of Wells Fargo’s Retirement and Trust business by Principal Financial Group calls to mind an earlier deal, inked by John Hancock and New York Life.

Retirement Industry People Moves

Insight Investment names portfolio strategist; Ascensus adds RVP to cover northern Texas region; QMA announces chief business officer; and more.

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

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

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