Fred Reish, a partner at Drinker Biddle & Reath, the Los Angeles law firm, has launched fredreish.com, a blog about retirement regulation and compliance.
The future for advisers includes more fiduciary responsibility and a focus on participant outcomes, said panelists at PLANADVISER’s 2013 Top 100 Retirement Plan Advisers seminar on Wednesday.
ERISA (Employee Retirement Income Security Act) 3(21) and 3(38) fiduciary services have been added by July Business Services for qualified retirement plan sponsors.
Win-loss survey data shows the proportion of plan sponsors remaining with the incumbent after conducting full 401(k) provider searches has continued to grow.
The Department of Labor’s (DOL’s) re-proposal of the definition of fiduciary is another indication that fiduciary responsibilities are increasing, and broker/dealers in particular could be impacted.