While the passage of Health Care Reform muted the marketâs momentum in late March, the Goldman Sachs hearings proved the turning point. The folks on Main Street just lost 10% of their retirement savings in less than a month. You canât blame Wall Street for that.
Will Congress, the SEC and the DOL upgrade the current fiduciary standard to the trust model used by bank trust departments so successfully for more than a century?
Has index investing become the soma of savers? Does it place employees â and the markets â in harmâs way? By extension, has the 401k fiduciary now assumed a greater liability?
Should indirect fees matter? Academics may argue, but regulators will have the final say. Unfortunately, different definitions of fees only confound the ERISA fiduciary.