PLANADVISER Weekend Newsdash
Week ending September 1st, 2017
NOTE FROM THE EDITOR
Happy Friday, readers! This weekend’s mailing focuses on the theme of Practice Management. The subject is timely given the newly announced extension of the DOL fiduciary rule implementation transition period, detailed below. You will also find helpful context and commentary from ERISA attorneys, leading researchers and top provider sales leaders. 
Practice Management
Indication of Second DOL Fiduciary Rule and BICE Delay Emerges
The Department of Labor and the White House have seemingly agreed to extend the applicability date of the full fiduciary rule and its accompanying exemptions by another year. Read more >
The Best Path Forward
Advisers who specialize in the micro retirement plan market—i.e., in plans with $10 million or less in assets under advisement—say that fee compression has made it more imperative than ever that they grow by expanding the number of clients they serve and their AUA. Read more >
IRA-to-IRA Transfers
Does the DOL fiduciary rule apply when I recommend that an IRA owner transfer his IRA account to one that I will advise? In a word, the answer is, yes. Any recommendation that an IRA owner transfer his IRA to one you advise is fiduciary advice and will require a thoughtful, thorough and well-documented fiduciary process along with an exemption from the prohibited transaction rules. Read more >
J.P. Morgan Retirement Link Sales Head Dissects Advisory Industry Progress
Charlie Cote, head of Retirement Link Sales at J.P. Morgan Asset Management, reflects on two decades of working with defined contribution retirement plan investors. Read more >
Average Age of Advisers Ticks Down
But, as the ranks of advisers nearing retirement grows, there is a need for formal succession plans, TD Ameritrade says. Read more >
More Advisers May Be Forced to Use Model Portfolios
Most executives interviewed by Cerulli believe that home-office discretion will increase as “underperforming advisers are identified and persuaded to use portfolios created by the headquarters consulting group.” Read more >
MOST POPULAR STORIES
Another Stressed Union Pension to Get PBGC Support

The plan was projected to run out of money at some point this year, but the special financial assistance from PBGC should prevent this outcome.

Class Certified in 401(k) Plan Trustees’ Lawsuit Against John Hancock

The suit alleges that John Hancock Life Insurance Co. violated ERISA by retaining foreign tax credits generated by plans’ investments under a group variable annuity contract.

PPL Corp. and Mass Brigham General Face ERISA Lawsuits

Imprudent investments and excessive fees were themes of lawsuits filed last week against retirement plan fiduciaries.

70% of Eligible Employees Have Joined California’s State-Run Retirement Program

Early evidence suggests the mandate for employers that don’t offer a retirement plan to join CalSavers is driving adoption of new plans.

Retirement Plan Advisers Might Help Lessen ERISA Lawsuits by Adding Defensive Provisions
Advisers can assist plan sponsors with mitigating and preventing claims for benefits and other Employee Retirement Income Security Act claims.
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