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.
It consists of six live, web-based training sessions conducted over a three-month period.
It offers advisers prospecting tools, plan management resources, including fiduciary support, and educational materials.
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.
Anticipating the DOL will not itself ask the 5th U.S. Circuit Court of Appeals to reconsider a crucial mid-March panel ruling that vacated the Obama-era fiduciary rule expansion, attorneys general and retiree advocacy organizations are speaking out, asking the full appellate court to reassess its decision.
The solution is aimed at helping advisers and home offices realize better efficiencies and increase transparency in retirement plan management.
Nearly a month after an appellate court unexpectedly quashed the DOL fiduciary rule expansion, the Securities and Exchange Commission has announced a date and time for its first formal meeting on the topic.
The Certified Financial Planner Board of Standards has adopted a revised ethics code that requires a CFP professional to act as a fiduciary in all client service contexts, and therefore, to act in the best interests of the client at all times when providing financial advice.
Advisers generally are not qualified to represent their clients before the IRS, and so they generally must shy away from offering tax advice; but that doesn’t mean they can afford to ignore the broad or specific implications of recent tax reforms for their clients.
The number of Employee Retirement Income Security Act lawsuits winning class certification in 2017 far outstripped the number of suits within which class action status was denied; attorneys with Seyfarth Shaw offer detailed analysis of all the ongoing cases.
The direct-to-sponsor firm proudly brands itself as an advisory industry disruptor, boasting fast revenue growth and a 30-day average sales cycle; we sit down with lead strategy officer Josh Robbins for a frank conversation about what comes next for the company and its “traditional” competition.
During a webinar called to discuss the advisory industry impacts of the Tax Cuts and Jobs Act, experts warned advisers to be ready to decline to offer tax advice during 2018—over and over again.
Texting is becoming the public’s communication channel of choice, the firm says, but the common communication pathway presents regulatory and practical challenges in the independent adviser context.
Regulatory developments in Nevada and New York show inaction at the federal level on clarifying advisers’ and brokers’ fiduciary duties is leading to a patchwork of state-by-state approaches to mitigating conflicts, real and perceived.