Lisa Shidler

I retired at the end if 2023 and part of me decision is die the all new rules.  The idea the retires will receive better advise is due to having so many restrictions is crazy.  If an advisor has to spend days to change someones investments (like with my wife's accounts at the moment) they are not going to help the acerage Joe.  It just wouldn't pay for their time, then you have the spector of the DOL second guessing what you do.  My personal IRA was never in a 401k or 404b.  The court shouldn't allow the DOL to tell me what I cando with my IRA.  No regulation is ever going  to stop the bad actores just make it more difficult for the good.

Brooke Southall and Keith Girard

Loaded with teeth and better crafted, the latest 'DOL Rule' attracts 19,000 comments --  and SIFMA, Charles Schwab Corp and Fidelity wrote words by the thousands in fierce opposition

Drinker Biddle & Reath

Pension Resource Institute

DOL rule

Fred Reish

Jason Roberts

The days when RIAs were the outsiders at the 401(k) party are fast coming to a close. What's new is that the mass of 401(k) assets 
is getting critical at about $3 trillion; fiduciary advisors are getting appreciated; fat fees and questionable kickbacks are getting exposed and stepping out of line is getting dicier as the Department of Labor tightens the regulatory screws.

The old reasons why the 401(k) business is attractive are still in place: there are fresh assets pouring in every month and when employees leave jobs or retire, they produce rollovers that build up IRA accounts for financial advisors. The drawbacks of getting into the 401(k) business are still in place, too. Dealing with retirement assets is really a second line of business and it remains -- unless you overcharge with hidden fees -- a low margin business with high potential fiduciary liabilities.

Still, the outsourcers, infrastructure and accumulated knowledge for RIAs to capitalize on is growing daily and a the mega-shift of assets away from brokers is making the 401(k) business riskier and riskier -- to ignore.

401(k) Stories

Last time around, in 2016, federal regulators imposed a very RIA standard on brokers and  insurance agents but it failed in court; now, the DOL is determined to avoid that mistake again, ERISA lawyer says.

Loaded with teeth and better crafted, the latest 'DOL Rule' attracts 19,000 comments -- and SIFMA, Charles Schwab Corp and Fidelity wrote words by the thousands in fierce opposition

Dan Wass

James Watkins

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