| Sponsored message from MainStay Investments and PLANADVISER |
| Keeping Ahead of Fiduciary Changes |
| MainStay Investments and PLANADVISER are pleased to bring you today’s special edition newsletter, which focuses on the Department of Labor’s new fiduciary proposal. We hope you find valuable insights to help you protect, improve and grow your retirement plan business.
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| Distinct Differences in Adviser Opinions of Fiduciary Rule |
| Advisers responding to the recent fiduciary proposal have “distinct and divergent viewpoints about the rule,” a survey from Pioneer Investments shows. The survey asked advisers three questions about individual retirement account rollover business and their opinions about whether the fiduciary rule as proposed would help, hurt, or have no influence on their business and on investors.
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| Index Fund Proxy Voting and Fiduciary Liability |
| A recent report from Wintergreen Advisers argues there is a critical flaw underlying the current trend of plan sponsors pushing more and more assets into lower-fee index funds—a flaw that could be construed as a fiduciary violation. The report’s title doesn’t mince words: “How the Votes of Big Index Funds Feed CEO Greed and Put Americans’ Retirement Savings in Peril.”
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| Too Soon to Assume the Worst About Fiduciary Rule |
| Federal government rulemaking seldom moves quickly, and in the case of the DOL fiduciary rule, observers warn the final impact of the consumer protection regulation remains anyone’s guess.
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