We hold these fiduciaries to be self-evident… This is not the beginning of the end, it is the end of the beginning…
“There is no upside for an employer doing everything perfectly with their retirement plan. The downside risk, however, can be huge. It’s a risk that just isn’t worth the employer taking.”
The DOL’s new Rule both discourages and permits continued conflicts-of-interest.
Each of these is dripping with overtones from the lessons of behavioral finance.
Absent any objective definition of ‘excessive’ and ‘reasonable,’ does the Conflict-of-Interest Rule have any real meaning, or is it merely another potentially lucrative cash-flow stream for class action attorneys courtesy of your friendly neighborhood government regulator?
Policy Insanity, Now the Real Fiduciary Questions, and Back to Investing Basics