PLANADVISER Weekend Newsdash
Week ending July 8th, 2016
NOTE FROM THE EDITOR
Happy Friday, readers! Anyone who receives our bimonthly print edition will be familiar with our ERISA attorney columnists, including Groom Law Group’s David Kaleda; Marcia Wagner, of the Wagner Law Group; and Fred Reish and Joan Neri, with Drinker Biddle and Reath. This week’s roundup mailing includes their latest writing for the PLANADVISER audience, with a particular focus on your questions about the DOL fiduciary rule and related litigation. 
Editor's choice
Rollovers Under the Fiduciary Rule
ADVISER QUESTION: I’m an adviser who provides investment advice to ERISA plan committees. I also provide wealth management and financial planning services to individuals. Under the final Department of Labor fiduciary rule, will I be able to advise plan participants or wealth management clients about their distribution options under a plan or an individual retirement account? Read more >
The New Fiduciary Rule Is for Plan Sponsors, Too
For IRAs and non-ERISA plans, the standard will need to be reflected in a written contract that will be the basis for a new contract-based legal action by these retirement investors. For ERISA plans or plans served by fiduciaries receiving a level fee, the contract requirement is reduced to providing a written statement of the adviser’s fiduciary status and adherence to the best interest standard. Read more >
Fee-Only Fiduciaries
The DOL points to FINRA guidance as to articulating the meaning of “recommendation,” though it stops short of adopting that definition itself. Further, the final rule allows an adviser to provide “investment education” about distributions and rollovers without being deemed a fiduciary, for providing “investment advice,” but this educational exception may be narrowly interpreted by the DOL or a court. Read more >
The Latest in Fiduciary Litigation
Why the rash of suits? ERISA attorneys speculate the significant attention paid to the U.S. Supreme Court decision last year in Tibble v. Edison has played at least a small part in emboldening these firms to pick up the pace in bringing these lawsuits. Read more >
MOST POPULAR STORIES
2018 PLANADVISER National Conference
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Retirement Industry People Moves

Carillon Tower Advisers Adds Array of Sales Team Members; Kestra Financial Partners with Merrick Financial; Russell Investments Hires Regional Investment Consultants; and more.

Brown University Wins Dismissal of Many Claims in 403(b) Plans Challenge

However, a federal district judge found enough plausible evidence to move some duty of prudence claims forward.

Fidelity Debuts Personalized Planning and Advice Solution

According to Fidelity, the enhanced managed account solution combines a personalized digital experience, discretionary investment management, ongoing support and access to a team of professional planning consultants.

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

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

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