Tag: Fees

An interim ruling in the fiduciary breach case of Barrett vs. Pioneer Natural Resources, in which elements of the defendants’ motion to oppose class certification failed at the same time the lead plaintiff failed to prove standing, highlights the complex nature of retirement plan lawsuits.

According to Boston Consulting Group, among asset management products, passives were far and away the fastest growing category in 2017, with a record 25% increase in AUM over an already very sizable base.

The decision by the U.S. District Court for the Central District of California is short and to the point, stretching just 15 pages and ruling only weakly in favor of the AT&T defendants’ motion to dismiss by allowing room for an amended complaint.

After siding with defendants and applying the shorter of two potential limitations periods, the district court decision states clearly that plaintiff’s claims are foreclosed by ERISA's three-year statute of limitations; the detailed decision tackles head-on a complex set of precedent-setting cases, including Tibble vs. Edison. 

Previewing two new Fiduciary Focus Toolkit reports that help plan advisers optimize their workflow, Fi360’s product strategy leader pointed to increased interest in fiduciary support among traditionally wealth-focused firms.

New research from Cerulli points to a number of drivers behind the acceleration in asset management fee compression, tied to improved automation and stronger competition; the research and analytics firm also analyzes the competitive landscape of “robo-advice.”

As an investment professional or a client, there are a lot of reasons to feel positive about the topic of environmental and socially minded investing, but new Cerulli research offers a reminder that not all “ESG” funds are created equal.

While the deadline had already technically passed for the DOL to appeal the circuit court ruling vacating its fiduciary rule reforms, this highly anticipated move by the court is truly the end of an era.

In a detailed ruling, the Deutsche Bank defendants’ motion for summary judgment is granted with respect to certain prohibited transaction claims, but denied with respect to other breach of fiduciary duty claims.

Defendants strongly prevailed with their motion to dismiss, and the Illinois District Court barred further motions as moot: The complaint was far too general in its scope and allegations to move ahead. 

Independent advisory shop founder Joe Gordon talks about winning new plan business from brokers and bank advisers who are “seriously fumbling the discussion with clients about fees and fiduciary change.”

Chris Barlow, national director of defined contribution investments for BMO GAM, riffs on the results of a new “DC Conversations” industry assessment; among the top findings is a downward trend in deferral rates across all sectors since 2010.

Expert attorneys warn the new non-enforcement policy binds only the DOL and IRS; state regulators and private plaintiffs could potentially seek to bring an action for alleged non-compliance with impartial conduct standards.

Aon Hewitt Investment Consulting and Lowe’s are being sued by the participants of the Lowe’s 401(k) retirement plan; the proposed class of plaintiffs puts forward a variety of familiar ERISA fiduciary breach claims.

Backing away from the topic of the DOL fiduciary rule, ERISA attorney Fred Reish focused his speech at the Plan Sponsor Council of America’s national conference on general compliance duties of ERISA plan sponsors; he noted that courts have applied what is called the “two hats” doctrine.