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| Final Fiduciary Rule Still Favors Level-Fee Work |
| Experienced ERISA attorneys and business development executives at Ascensus tell PLANADVISER the DOL’s final fiduciary rule still inherently favors flat-fee service arrangements for qualified plan clients and “an open architecture future for accessing retirement plan investments.”
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| Expanding Coverage |
| The campaign to expand access to retirement savings in the workplace at the federal government level “continues to get little more than lip service” from political leaders, argues Marcia Wagner, an ERISA attorney working on a variety of employee benefits and executive compensation issues. And so, more than half of the states are taking some action to fill the coverage gap.
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| Fiduciary Breaches by Others |
| Fred Reish and Joan Neri are two nationally recognized ERISA attorneys with Dirnker, Biddle & Reath. Writing in the latest PLANADVISER print edition, the pair warn that “even if you think you are not a fiduciary under the new DOL rulemaking, there still is new risk and liability.”
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| Clarifying the Scope and Value of Fiduciary Services |
| Before becoming founder and CEO of Unified Trust Co. in Lexington, Kentucky, Gregory Kasten was an M.D. in anesthesiology. When looking for retirement advice, Kasten “found a lot of smart people and advisers to talk to, and some of them had some powerful ideas, but most were ultimately trying to sell me a specific product or bring me back to a particular fund family.”
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| Fiduciary Rule Shows Washington Compromise Can Still Happen |
| Count Russell Investments directors Jean-David Larson and Sam Ushio among the financial services industry professionals who were grateful to see the Department of Labor (DOL) dial back some elements of its new fiduciary standard.
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