Podcasts about fiduciary rules

ERISA attorney Allie Itami, Partner at Lathrop GPM in Minneapolis, joins the 401(k) Specialist Pod(k)ast to talk about the status of the Department of Labor's beleaguered fiduciary rule in light of recent stay rulings in Texas, and also chimes in on ERISA at 50 before addressing compliance challenges presented by annuities in 401(k) plans.And click here to check out a recent blog post from Itami about ERISA's 50th anniversary, which will be celebrated with a gala event in Washington D.C. on Sept. 12.Itami is a partner in Lathrop GPM's Business Transactions Group, specializing in employee benefits and is known for providing comprehensive counsel on fiduciary compliance under ERISA and the Internal Revenue Code.Key Insights:Annuity Challenges in 401(k) Plans: The inclusion of annuities in 401(k) plans remains challenging due to issues with fiduciary liability, stigmas associated with annuities (such as high fees and lockups), and a lack of comprehensive safe harbor protections under current regulations.Fiduciary Rule Delays: The Department of Labor's fiduciary rule, which was set to take effect in September 2023, has faced delays due to court rulings. Compliance on the original date is no longer a concern for service providers due to legal stays, and the likelihood of the rule being implemented soon is minimal.ERISA's Evolution: ERISA has adapted over its 50-year history, moving from employer-centered benefit plans like pensions to more individualized retirement options such as 401(k)s and IRAs, reflecting shifts in workplace benefits.

The so-called fiduciary rule has been stayed—and legal challenges regarding forfeiture reallocation are picking up.  Nevin & Fred discuss what you should be doing…now. About a month ago two separate federal judges put a hold on the effective date (09/23) of the Labor Department's new fiduciary rule—indefinitely.  n ordering the stay, United States District Judge Jeremy D. Kernodle explained that “the 2024 Fiduciary Rule suffers from many of the same problems” that were found in the version vacated by the Fifth Circuit back in 2018. On the other (unrelated) hand, the number of suits alleging a fiduciary breach in the use of forfeitures to offset employer contributions is increasing—and most recently those charges have been appended to the more “traditional” excessive fee suits.  That, and a couple of the original group have now gotten past the motion to dismiss.      In light of those trends, what should plan fiduciaries do?  In this podcast episode, Nevin & Fred will discuss the trends, the issues, the implications, and some next steps. Episode Resources: Staff Bulletin: Standards of Conduct for Broker-Dealers and Investment Advisers Account Recommendations for Retail Investors  https://www.sec.gov/tm/iabd-staff-bulletin Fiduciary Rule Federal Judge Slams Brakes on Fiduciary Rule  https://www.napa-net.org/news-info/daily-news/breaking-news-federal-judge-slams-brakes-fiduciary-rule Another Federal Court Slams Fiduciary Rule  https://www.napa-net.org/news-info/daily-news/another-federal-court-slams-fiduciary-rule Department of Labor Releases Final Investment Advice Fiduciary Rule  https://www.napa-net.org/news-info/daily-news/breaking-department-labor-releases-final-investment-advice-fiduciary-rule Forfeiture Reallocation Litigation Major Forfeiture Fiduciary Breach Suit Gets Green Light https://www.napa-net.org/news-info/daily-news/major-forfeiture-fiduciary-breach-suit-gets-green-light Another Excessive Fee Suit (Also) Claims Forfeiture Use a Fiduciary Breach  https://www.napa-net.org/news-info/daily-news/another-excessive-fee-suit-also-claims-forfeiture-use-fiduciary-breach Nordstrom Nailed With Massive Allegations in 401(k) Fiduciary Breach Suit https://www.napa-net.org/news-info/daily-news/nordstrom-nailed-massive-allegations-401k-fiduciary-breach-suit Future Live Appearances: Strategic Retirement Partners:  https://www.srpretire.com/ ASPPA Annual:  https://asppaannual.org/ NAPA 401(k) Summit:  https://napasummit.org 

In this installment of our Employee Benefits and Executive Compensation podcast series, Troutman Pepper Partners Jim Earle, Lynne Wakefield, and Lydia Parker discuss the impact of the Supreme Court's decision in Loper Bright Enterprises v. Raimondo on benefits-related regulations, including the Department of Labor's Fiduciary Rule; environmental, social, and governance regulations; protections based on sexual orientation and gender identity under the Affordable Care Act; and much more.We are excited to announce that we will be hosting our annual webinar on September 4, a one-hour event providing updates on year-end actions and key recent developments impacting employee benefits.

An update on the never ending battle to make sales people into fiduciaries.  It is not looking good. How much cash should you have on hand?What is it like to drive 1150 miles in an EV?

Implementation of the Department of Labor's Retirement Security Rule is on hold after a successful challenge by Finseca, the American Council of Life Insurers and several other insurance trade organizations. Texas Federal Court Judge Reed O'Connor said the industry is "virtually certain" to succeed in claims against the DOL.So what does this mean for financial professionals, the insurance industry, and recommendations related to transfers from qualified plans? Download this episode to hear Joy Dawe, Crump's Senior Vice President of Market Conduct, and Armstrong Robinson, Finseca's Chief Advocacy Officer, discuss the latest news and share their insights on the rule and its impact on the industry.Learn more:https://www.finseca.org/dol-update/

In another traveling episode, we discuss: 1:01 Retirement Savings Importance 2:10 Court Ruling Impact 3:59 Common Retirement Mistakes 6:25 Failing to Maximize 401k Benefits 8:19 Borrowing from 401k Risks 10:12 The Importance of Asset Allocation 11:17 Traditional vs. Roth 401k Considerations 13:44 Financial Planning Importance 14:33 Variable Annuities Dilemma 17:33 Equities in Short-Term Portfolios Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Advisor Revelations, David Lau talks with Fred Reish, Partner and Chair of the Fiduciary Services ERISA Team at Faegre Drinker Biddle & Reath, about the Department of Labor's new fiduciary rule. They discuss the regulation's origins, goals, and potential impact on the insurance industry. Fred also provides insight into how insurance professionals and financial advisors can navigate the evolving regulatory landscape of retirement planning. Learn more at https://www.dplfp.com/series/advisor-revelations-podcast.

#BRNAM #1787 | A Preliminary Injunction of the New Fiduciary Rule | David Levine & Kevin Walsh, Groom Law Group | #Tunein: broadcastretirementnetwork.com | #JustTheFacts. #Everyday. #AllInOnePlace.

What is a fiduciary?  In this episode of #MoneyGuidewithMarySterk, we share what the fiduciary standard means for you and your #retirement accounts.#assets #rollover #IRA #advisor #CFP #risktolerance #insurance #investment #statefarm Feat Mary Sterk & Kelsey BankeySubscribe to the “Money Guide with Mary Sterk” podcast on Apple Podcasts. Schedule an appointment with one of our advisors today!Follow us on FacebookFollow us on LinkedinSubscribe on YoutubeFollow us on Twitter

In this episode, Nevin & Fred discuss new lawsuits regarding fiduciary breaches on the use of plan forfeitures, a managed account default – and the Labor Department's new fiduciary rule. In late May a motion to dismiss the suit in one of the half-dozen (and counting) suits challenging the use of plan forfeitures to reduce employer contributions was itself dismissed, with a federal judge deciding that the plaintiffs had made a plausible case to proceed.  Also in late May, participant-plaintiff Debra Hanigan claimed that the plan fiduciaries of the $5.1 billion Bechtel Trust and Thrift Plan “breached their fiduciary duty of prudence to Plaintiff and other Plan participants, causing tens of millions of dollars of harm to Plaintiff and Class Member's retirement accounts” – by defaulting participant investments into a managed account option that she claimed was nothing more than an expensive target-date fund. And then in late April, the Labor Department's new Retirement Security Rule (generally referred to as the fiduciary rule) got its first challenge in Federal Court.  Claiming that the rule was “contrary to law and arbitrary and capricious,” the suit seeks “preliminary and permanent injunctive relief to prevent the DOL from attempting to enforce these unlawful rules and regulations.”  Whew!

The DOL's new fiduciary rule is scheduled to become effective in September, and retirement plan advisors and plan sponsors have plenty to do to prepare for the changes it will bring.Jerry Schlichter, founding and managing partner of Schlichter Bogard LLC and a well-known pioneer of retirement plan excessive fee litigation, visits the 401(k) Specialist Pod(k)ast to share some important insights on the upcoming changes, legal challenges and what advisors need to be doing to prepare for compliance.SEE ALSO:• Fred Reish Unpacks the DOL's New Fiduciary Rule• Nine Insurance Trade Groups Sue DOL Over Fiduciary Rule

In late April the Department of Labor (DOL) released the Retirement Security Rule, generally referred to as the “fiduciary rule.”  Nevin (Adams) and Fred (Reish) take a look at what's changed —what hasn't—and what it all means for retirement plan advisors. This now-final rule updates and broadens the definition of an investment advice fiduciary under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (IRC).  In this new podcast episode, the prolific podcasting pair ponder: The impact(s) to retirement plan advisors who are already ERISA fiduciaries, and compliant with PTE 2020-02, How the five-part test has changed, The implications of the so-called “Hire Me” exception, What changes to the “regular basis” criteria mean to the “drive-by” plan sale to plan sponsors.

#BRNSunday #1729 | Senators move to overturn the retirement investment planning (Fiduciary) rule | Kevin Walsh, Groom Law Group  | #Tunein: broadcastretirementnetwork.com #JustTheFacts

There are so many different narratives of investing that it's important to know when you need to think twice. Today we delve into the murky waters of legislative bills and how they're often loaded with hidden surprises. We also navigate the labyrinth of regulatory standards and keep a keen eye on broader economic trends, like shifts in commodities such as gold and natural gas. Ultimately, it's about staying sharp, questioning the mainstream narrative, and making informed decisions in both politics and investing. Today we discuss... Politics and its perceived distance from everyday life sparks disengagement due to a lack of perceived impact. How legislative Bills often have hidden agendas. Investing requires staying informed and questioning mainstream narratives. The Fiduciary Rule, while seeming beneficial on the surface, raises complexities and implications for financial advisors and investors. Analyzing trends in commodity markets like gold and natural gas is crucial for investment strategies. Large nonprofits' operations and tax reforms are topics for consideration to enhance societal contributions. Emphasizing skepticism and critical analysis is essential for evaluating narratives and making informed decisions. Market trends, including rising interest rates, affect commodities like gold. Centralization versus decentralization trends affect various sectors, including investing. The fiduciary standard's implications reveal fundamental contradictions and challenges in the financial industry. Nonprofits' significant wealth accumulation raises questions about taxation and societal contributions. Skepticism and critical thinking are crucial for navigating complex narratives in politics, investing, and societal issues. Investing in commodities like natural gas requires understanding seasonal trends and economic indicators. Understanding narratives and trends is essential for making informed investment decisions and navigating complex financial landscapes.   Today's Panelists: Kirk Chisholm | Innovative Wealth Douglas Heagren | ProCollege Planners Follow on Facebook: https://www.facebook.com/moneytreepodcast Follow LinkedIn: https://www.linkedin.com/showcase/money-tree-investing-podcast Follow on Twitter/X: https://x.com/MTIPodcast For more information, visit the show notes at https://moneytreepodcast.com/narratives-of-investing-607

#BRNAM #1725 | Taking a Look at the New Fiduciary Rule?   |  Kevin Walsh, Principal, Groom Law Group | #Tunein: broadcastretirementnetwork.com #JustTheFacts

The Department of Labor released its final “Retirement Security Rule” recently, which aims to raise the legal bar for financial advisors, brokers, insurance agents and others who give retirement investment advice.Noted ERISA attorney Fred Reish Esquire, Partner at Faegre Drinker, shares his thoughts on some of the rule's key focuses and changes, along with implementation questions and potential hurdles to the rule becoming effective in September.Key Insights:Clarification of "Retirement Investment Advice": The updated Retirement Security Rule defines advice that is fiduciary in nature, emphasizing that even one-time advice must prioritize the investor's best interests. This redefinition aims to reinforce the legal and ethical duty advisors hold toward their clients. The new retirement security rule's implementation, scheduled for September 2024 with additional requirements phasing in by 2025, is set to introduce new compliance standards, enhancing overall financial advisory practices.New Protocols for IRA Rollovers: Advisors must now perform a thorough analysis to ensure recommendations, particularly concerning IRA rollovers, align strictly with the client's best interests. This includes comparing costs and services between the existing plan and any proposed IRA, a process that could challenge particularly those less familiar with stringent regulatory frameworks, such as independent insurance agents.Impact and Industry Response: While wealth management firms may find adapting to the new standards more straightforward due to previous regulatory experiences, independent insurance agents are anticipated to face significant hurdles. The industry's reaction is mixed, with some viewing the compliance requirements as burdensome, yet the overall sentiment recognizes the new Retirement Security Rule as a crucial step towards ensuring client interests are foremost.SEE ALSO:DOL Fiduciary Rule Hit With First LawsuitBreaking Down the Basics: DOL Fiduciary RuleDOL Final Fiduciary Rule Released, Set to Become Effective in SeptemberDOL Fiduciary Rule Update with Fred Reish

#BRNSunday #1722 |  Are Health Savings Accounts & Other Benefits Impacted by the New Fiduciary Rule? | Kevin Walsh, Groom Law Group | #Tunein: broadcastretirementnetwork.com #JustTheFacts

Nationally syndicated financial columnist and author Terry Savage joins John to talk about a new rule about rollover advice that you should know about. Terry also answers all of your financial questions.

What's old is new again. The U.S. Department of Labor has revived its "Fiduciary" Rule after 7 years. This rule was originally discussed and proposed in 2015-2016. However, it was tabled after Trump was elected, and the DOL dropped it. The new rule is no less confusing than the original. Perhaps even more so.  In today's episode we discuss some of the details as we understand them. More importantly, we opine about the absurdity of making rules to enforce ethical behavior. It just doesn't work and it never has.  ______________________ If you'd like for us to help you find the right cash value life insurance solution, or you're in a transitional period from your working years to retirement, please click here to contact us. We love helping listeners and even more when they become our clients.   

Well that was quick. As is this pod. Something called — perversely, I might add — the Federation of Americans for Consumer Choice, Inc. (“FACC”) has filed a lawsuite to stop the new Fiduciary Rule even before it goes into effect on September 23, 2024. New DOL Fiduciary Rule Fact Sheet New Fiduciary Rule Not All Bad for K-12 403(b) Participants FACC Lawsuit Against Fiduciary Rule Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Does the new Fiduciary Rule have teeth? Does it apply to the 403(b)? We also discuss our May 21 event for those curious about becoming a fiduciary advisor.  New DOL Fiduciary Rule Fact Sheet 403bwise Zoom Event: Curious About Becoming a Fiduciary Advisor? Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

This Department of Labor rule helps determine whether your financial advice is coming from a trusted professional or someone akin to a car salesman.(Participants in small retirement plans and investors rolling into fixed index annuities should see the most benefit.) Today's Stocks & Topics: CAT - Caterpillar Inc., MAS - Masco Corp., Market Wrap, GGG - Graco Inc., The Final Fiduciary Rule Clarifies When Financial Professionals Must Act in the Best Interest of Their Client, VICI - VICI Properties Inc., Rollover the 403B to a Roth I-R-A, Interest Rates, AMZN - Amazon.com Inc., ARKK - ARK Innovation ETF, PFE - Pfizer Inc., Housing Bills.Our Sponsors:* Check out Rosetta Stone and use my code TODAY for a great deal: https://www.rosettastone.com/* Learn more at hackerone.comAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary: In this episode of "Financial Advisors Say the Darnedest Things," host AB Ridgeway discusses the recent updates announced by the Biden-Harris administration regarding rules aimed at protecting retirement savers' interests. The Department of Labor's revised definition of fiduciary aims to ensure that financial advisors prioritize their clients' best interests. AB explores the implications of these changes and their significance for investors.Key Takeaways:Enhanced Investor Protection: The updated regulations emphasize the importance of financial advisors acting in their clients' best interests, ensuring prudent and honest advice free from overcharges.Importance of Fiduciary Responsibility: The fiduciary standard requires advisors to prioritize clients' interests over their own, preventing conflicts of interest and unethical practices that may harm investors.Christian Financial Advisory Principles: AB emphasizes the alignment of his firm's practices with biblical principles, highlighting the importance of shared values between advisors and clients for a successful relationship.Advisors' Accountability: The new regulations hold financial advisors to a higher standard of care, promoting transparency and accountability in the industry to safeguard investors' retirement savings.Empowering Investors: AB encourages listeners to consider the implications of these changes and engage in discussions about how the revised rules may impact their retirement planning, fostering greater awareness and empowerment among investors.Quotes:"Financial advisors on all levels are now required to adhere to high standards of care and loyalty when recommending investments, ensuring clients' interests come first.""As a Christian financial advisor, we focus on biblical principles, prioritizing values alignment with our clients for a successful partnership.""The new regulations aim to protect retirement investors from improper recommendations and conflicts of interest, ensuring they can retire with dignity."Subscribe to "Financial Advisors Say the Darnedest Things" to stay informed about the latest updates and insights in the world of financial advising.Prayer: "Lord, guide us as we navigate financial decisions, seeking wisdom and discernment in stewarding our resources. May our actions honor You and serve the well-being of others. Amen."

Episode Summary: In this episode of "Financial Advisors Say the Darnedest Things," host AB Ridgeway discusses the recent updates announced by the Biden-Harris administration regarding rules aimed at protecting retirement savers' interests. The Department of Labor's revised definition of fiduciary aims to ensure that financial advisors prioritize their clients' best interests. AB explores the implications of these changes and their significance for investors.Key Takeaways:Enhanced Investor Protection: The updated regulations emphasize the importance of financial advisors acting in their clients' best interests, ensuring prudent and honest advice free from overcharges.Importance of Fiduciary Responsibility: The fiduciary standard requires advisors to prioritize clients' interests over their own, preventing conflicts of interest and unethical practices that may harm investors.Christian Financial Advisory Principles: AB emphasizes the alignment of his firm's practices with biblical principles, highlighting the importance of shared values between advisors and clients for a successful relationship.Advisors' Accountability: The new regulations hold financial advisors to a higher standard of care, promoting transparency and accountability in the industry to safeguard investors' retirement savings.Empowering Investors: AB encourages listeners to consider the implications of these changes and engage in discussions about how the revised rules may impact their retirement planning, fostering greater awareness and empowerment among investors.Quotes:"Financial advisors on all levels are now required to adhere to high standards of care and loyalty when recommending investments, ensuring clients' interests come first.""As a Christian financial advisor, we focus on biblical principles, prioritizing values alignment with our clients for a successful partnership.""The new regulations aim to protect retirement investors from improper recommendations and conflicts of interest, ensuring they can retire with dignity."Subscribe to "Financial Advisors Say the Darnedest Things" to stay informed about the latest updates and insights in the world of financial advising.Prayer: "Lord, guide us as we navigate financial decisions, seeking wisdom and discernment in stewarding our resources. May our actions honor You and serve the well-being of others. Amen."

#BRNSunday #1701 |  The New DOL Fiduciary Rule to become Final | Kevin Walsh, Groom Law Group | #Tunein: broadcastretirementnetwork.com #JustTheFacts

#BRNSunday #1640 | Hearing on the New Department of Labor Fiduciary Rule: Protecting American Savers and Retirees?  | Kevin Walsh, Groom Law Group  | #Tunein: broadcastretirementnetwork.com #JustTheFacts

In this episode Pam, Terry and Richard talk about what's like to be the most important financial decision you'll ever make… what to do with your 401k money when you're ready to retire? The Department of Labor says any retirement advice you get a work should always be in your best interest. The question is… is it? Pam leads the discussion about the DOL's new proposed Fiduciary Rule and includes special guest Kevin Walsh of Groom Law Group and break down why the DOL's so worried.

In this episode of the " 9Innings Podcast," Kevin Thompson, CEO of 9i Capital Group, explores the fiduciary rule's influence on the financial industry. He clarifies the rule's intent to ensure advisors prioritize client interests, highlighting its significance for CFP®s and the alignment it creates between advisors and clients. Thompson discusses the rule's benefits for investor protection but also acknowledges the challenges it poses, such as higher compliance costs and potential restrictions on investor choice. He concludes by stressing the rule's role in fostering trust and transparency in financial advisory relationships.

#BRNSunday #1556 | ROCKET DOCKET: DOL Announces December Hearings On Fiduciary Rule | David Levine & Kevin Walsh, Groom Law Group | #Tunein: broadcastretirementnetwork.com #JustTheFacts

#BRNSunday #1481 | ERISA has another Happy Birthday. Could a fiduciary rule change be coming? | David Levine & Kevin Walsh, Groom Law Group  | #Tunein: broadcastretirementnetwork.com #JusttheFacts

Today on Brunch & Budget on Bondfire Radio, Dyalekt and I going to talk about something I feel very strongly about, something I'm appalled has actually caused controversy. We talk a lot on the show about how important it is to make sure your advisor has committed to being your fiduciary, which basically means they […]

Today on “The Hard Question,” Blanquita Cullum is joined by Mario H. Lopez, president of the Hispanic Leadership Fund, an advocacy organization that promotes liberty, opportunity, and prosperity for all in public policy. He says the federal government is working toward reinstating “fiduciary rule” that would hurt underserved communities. Hispanic and Black families typically earn less than others, and their employers are less likely to offer 401(k)s or other retirement savings plans. In fact, nearly two-thirds of Hispanic families and more than half of Black families don't have any form of retirement savings account. The federal government move to impose rules that could hurt the ability of many Americans to save for their retirement could be devastating. Visit "The Hard Question" show page: www.studiocchicago.com/the-hard-question

In this episode, the dynamic duo of Nevin & Fred take a look (ahead) at the prospects for the fiduciary rule (3.0), ESG, PEPs, Retirement Income (and income projections), industry consolidation & legislative outlook for 2022. Episode Resources Fred's Fiduciary Rule blog: https://fredreish.com/ DOL Delays Enforcement of Fiduciary Investment Advice Exemption: https://www.napa-net.org/news-info/daily-news/dol-delays-enforcement-fiduciary-investment-advice-exemption-0 DOL Proposal Would Reverse Trump ESG, Proxy Voting Rules: https://www.napa-net.org/news-info/daily-news/dol-proposal-would-reverse-trump-esg-proxy-voting-rules Resource Page on MEPs, PEPs, ad PPPs: https://www.napa-net.org/news-info/daily-news/resource-page-meps-peps-and-ppps-launches Are We Ready for Retirement Income?: https://www.napa-net.org/news-info/daily-news/are-we-ready-retirement-income

BRN Sunday | New DOL regulations on the way? Revising Form 5500, ESG & redoing Fiduciary Rules; Theme parks may never be the same after the pandemic; Facebook to pay creators $1 billion for content through 2022; Cornonavirus Delta cases spike ; What's it like to get COVID-19 AFTER getting the vaccines & travel prices are going up, but are the numbers misleading? | David Levine, Kevin Walsh, Daniel Kline, Lydia Ramsey Pflanzer & Jacob Passy | Visit www.broadcastretirementnetwork.com

Financial Advisors love to tout their fiduciary title, but what does it actually mean? Does the fiduciary rule actually protect investors as it was designed to do or has it been manipulated into just another marketing ploy? The team gives their opinions as it relates to financial advisors collecting fees vs commissions. Tino's arch nemesis strikes again and Remy has a theory. Have a question, comment or just want a shout out? Send us an email to comments@onmarkets.com

Host, and owner of TKM Financial Services in Louisville, Kentucky, Todd Meador, and his co-host Vicki Rogers, as well as regular on the show, Coral Abood, talk finances and the current state of the Market. Todd gives some important market updates, points to some areas of concern, especially surrounding a recent cyber attack, and speaks to the direction things are heading. Todd educates Vicki and Coral, as well as all listeners, on what are good reasons to hire and fire your financial advisor. He sets a standard for the habits and behavior of financial advisors, pointing to the Fiduciary Rule, document security, and the volume of clients they have. Todd also speaks to some of his best practices to ensure that he's taking the best care of his clients. . Show Sponsor Old Louisville Candy Kitchen 502.216.7330 www.gethappyballs.com . On-Air Partner Information Jennifer Bock Swan Financial jbock@swanhelp.com 502.649.7382 www.swanhelp.com . Rita Ernst Ignite The Extraordinary ritaernstconsult@gmail.com 502.235.6791 www.igniteextraordinary.com . Latanya Henry LMH Accounting lhenry@lmhaccounting.com 502.996.7150 www.lmhaccounting.com . Linda K. Hill Keller Willams Louisville East linda@jimmywelch.com 502.767.9744 www.jimmywelch.com/agents/lindahill . Advertising Partners Ntaba Coffee Haus www.ntabacoffeehaus.com . One Love Hemp Dispensary www.onelovehempdispensary.com . Willow Tree Imaging www.willowtreeimaging.com . Featured Artist: Christopher Taylor @taylor_music_uk

Join Nevin Adams & Fred Reish for the inaugural episode of "Nevin & Fred: Fresh & Best Perspectives." Technically, it's not a “rule”—but after years of debate, hearings, comments, litigation and preparation, there are some new rules regarding investment advice—and some help for retirement plan advisors. Nevin Adams and Fred Reish take a look at the implications. And have some fun doing it. Episode Resources: DOL PTE 2020-02: https://www.govinfo.gov/content/pkg/FR-2020-12-18/pdf/2020-27825.pdf The DOL's Prohibited Transaction Exemption 2020-02 provide relief from prohibited compensation resulting from nondiscretionary fiduciary advice. And, in the preamble to the PTE, the DOL explains that it is reinterpreting the regulatory definition of fiduciary advice so that many more recommendations to plans, participants and IRA owners will be fiduciary advice. FAQs for Fiduciary Advice Exemption: https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/our-activities/resource-center/faqs/new-fiduciary-advice-exemption.pdf The DOL has issued guidance on understanding and interpreting its expansion of the definition of fiduciary advice and on the exemption from prohibited transactions resulting from nondiscretionary fiduciary advice. DOL guidance to selecting an advisor: https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/our-activities/resource-center/faqs/choosing-the-right-person-to-give-you-investment-advice.pdf The DOL has issued guidance to help IRA owners and plan participants select advisors to help with rollover decisions and IRA investing. This publication offers “Questions to Ask an Investment Advice Provider”.

Gets My Circulation Going To Discuss This! Podcast Episode: #11 Podcast Date: 02/03/21

Stock trading application Robinhood is under attack from the state of Massachusetts via a formal complain by the Secretary of the Commonwealth William Galvin. Massachusetts regulators filed a complaint against Robinhood on Wednesday, accusing the popular trading app of failing to act in the best interests of its users. The complaint cites Robinhood's “aggressive tactics to attract inexperienced investors, its use of gamification strategies to manipulate customers, and its failure to prevent frequent outages and disruptions on its trading platform.” The complaint is the first enforcement of Massachusetts' Fiduciary Rule, which Secretary of the Commonwealth William Galvin began enforcing in September.

Let's face it, for most, ERISA and retirement plan law can be somewhat dull. However, this episode's Revamping Retirement guest has found a way to weave sports, pro-wrestling, soap operas and general '70s and '80s pop culture into his practice. Ary Rosenbaum practices ERISA and retirement plan law at The Rosenbaum Law Firm P.C. and is also known by industry insiders as "That 401(k) Guy," infusing personality into his practice through his That 401(k) Site website, conference series, and podcast. In this episode 20 of Revamping Retirement, Mike Webb chats with Ary about his perspective on topics such as the DOL's Fiduciary Rule and ESG and Private Equity in retirement plans, his "wish list" for compliance changes to help plan sponsors avoid plan errors, and his collection of Mets memorabilia.

We have talked about Regulation BI and the DOL’s Fiduciary Rule before on the podcast, however, it has been a while. Reg BI is now live and the DOL’s Fiduciary Rule has been revamped after its prior version was vacated a while back. To share an overview of what each are, the impact on plan sponsors, participants and industry I am happy to welcome Chris Giorgi and Carrol Waddel, both with Empower Retirement to the podcast. Chris provides great background and perspective on the legal front as Associate General Counsel and Carrol offers her insights on how all of this will impact plan sponsors and workplace retirement plan participants. We also hit on the role of advice in the post COVID world and what that could mean for all involved.    That’s it for now, I hope you enjoy my conversation with Chris and Carrol!   Guest Bios   Chris Giorgi is Assistant General Counsel for Empower Retirement. Prior to joining Empower, he served as Senior Counsel in the legal and compliance department for Putnam Investments and as Director of the ERISA compliance team for The Hartford. He has 27 years of experience in ERISA legal and compliance matters.  Chris holds a bachelor’s degree from the University of Massachusetts, Amherst and a Juris Doctor degree, cum laude, from Suffolk University and is a member of the Massachusetts Bar. He is the co-chair of the Boston Bar Association’s ERISA Committee and a member of various industry groups, including the ICI Pension Committee. He also maintains FINRA Series 6, 26 and 63 securities registrations and holds FINRA Series 7 credentials.    Carol Waddell is Senior Vice President and Head of the Retirement Solutions Group for Empower Retirement. In her role, she oversees the teams that deliver guidance, advice, managed accounts, and financial wellness and planning across all corporate and government defined contribution segments for Empower and leads the consumer IRA, taxable and Empower Brokerage businesses.  Previously, Carol served as Head of Product and Marketing for J.P. Morgan Retirement Plan Services. At J.P. Morgan, she led product management and development, which included products, services, tools and websites for advisors, plan sponsors and participants, and oversaw the firm’s marketing strategy and communications, segment management and award-winning participant experience.  Carol has also worked for T. Rowe Price, where she served in various leadership roles. In addition to providing oversight for defined contribution, defined benefit and nonqualified plan product development and marketing — including customer digital channels; investment products; and services for intermediaries, plan sponsors and participants — she contributed significantly to the firm’s overall retirement income and target date product strategies. Carol has also served at Citibank in a variety of positions focused on marketing and customer experience.  Carol holds an MBA from Loyola University Maryland. She currently maintains the FINRA Series 6 securities registration and holds FINRA Series 7 and 24 credentials.    401(k) Fridays Podcast Overview Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 200 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

This week Jeff and Bruce tackle what the freshly minted Reg BI rule means for the wealth management industry and whether consumers even know the difference. The candid conversation between IN's two senior columnists also looks at the contradiction of brokers supposedly having more relaxed fiduciary rules but still racing toward the independent channel. And don't miss the open notebook segment where you'll learn how journalists and public relations professionals coexist in a less than perfect relationship.

In episode No. 18 of ThinkAdvisor's Human Capital podcast, we talk with the former assistant secretary of the Labor Department’s EBSA during the Obama administration. Listen in as Borzi also talks about the current political turmoil surrounding SEC Chairman Jay Clayton, as well as the trouble spots the SEC faces in enforcing Reg BI, which takes effect on June 30. A vocal critic of Reg BI, Borzi says implementation of the rule will be critical as it “leaves a lot of ambiguity.”

In episode #9 of our Human Capital podcast, George Michael Gerstein tell us the latest on where the states’ fiduciary rules stand.

Bulls and Bears: Realistic Portfolio Expectations; Legislative Update: Massachusetts on Verge of Fiduciary Rule; Plan Your Prosperity: Ins and Outs of IRAs; Ask Peggy: Adequate Homeowner's Insurance "Ask Peggy About Your Finances" helps people understand their money. Each week, Peggy Doviak explains the stock market, financial legislation, and financial planning topics. Listeners can also submit questions to www.askpeggy.com for the "Ask Peggy" segment. The information is educational, not investment advice. Investing is risky, and you can lose money. Talk to your financial team before you implement any ideas you hear.

A retired couple from Chicago sign up for an investment class at a local college and learn a whole different lesson about financial advisors. Lynne Egan, a securities regulator and Phyllis Borzi, the architect of the ‘Fiduciary Rule’ talk openly about financial advisors and how to become educated to protect yourself from sleazy practices.

Sunday Night Live with Thrive Financial Services. Join David and Karen Bezar, Bret Elam and Joe Krause for a Sunday Night coffee table conversation about retirement ages to remember and the Fiduciary Rule. Go to MaxMyPlans.com after the show. Fueled by the desire to provide honest information. Flourish, Prosper, Success - through education. Content provided by JAKIB Media.

  In this episode of the High Return Real Estate Show, the hosts of the show, Jack Gibson and Jeff Schechter, talk about predicting the unpredictable and investing during the Trump presidency. Topics Covered: Trump Is Unpredictable...How Do We Predict What Will Happen? The Federal Reserve and The Recent Rate Hike Trump's Delay of Obama's “Fiduciary Rule” and Deregulation Intentions Trump's Intention For “Draining The Swamp” Who Is Ultimately Responsible? Surviving The Storm Key Lessons Learned: Predicting the Future Most politicians do not live up to their campaign promises. Trump is not used to working in a bi-partisan environment. Trump is a businessman, not a politician. He used to take big risks with big potential failures and successes. The question is is there less incentive for advisors to give good advice or is there more? More regulation always means higher fees. Deregulation could lead to higher risks but also higher rewards at the same time. There have been good and bad elements to Trump's intention to “Drain the Swamp”, shrinking the size and role of certain government agencies is a good move but there are many corporate agents in positions of power they probably shouldn't be. The mainstream media has some major problems, objectivity has gone out the window. You have to take responsibility for the results in your life. You have to do your best to make the right decisions for your own personal economy. The government will not solve your problems. Interest Rates Leveraging other people's money is the way real estate investors work. The increasing of the interest rates increases the cost of doing business. Savings returns are not keeping up with inflation. The artificial stimulus that the government has been pumping into the economy has really hurt savers. The Storm Cash is king in an uncertain economic situation. Cash generating rental income will always be in demand. Be in a position for the people that will eventually need affordable housing to come to you. Own real property that can't be manipulated by rate hikes or market manipulations. Property is one of the few investments that is guaranteed to be around many years from now, that's not true with stocks. Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5-star rating and review in iTunes!

What is the Fiduciary Rule and what does is mean to you?

In an earlier episode, we examined the structure and context of the DOL's newest edict. And while it is great to know the ins and outs of the rule, the more pressing question for practitioners is what it actually means at "ground level". That aspect of the rule has been missing in some of the recent press coverage, so ShiftShapers went to an expert and educator to learn more. This is especially important information for benefits advisors who occasionally find themselves in areas covered by these regulations and for those who may be thinking about expanding their practices into those disciplines. You can find show notes and more information by clicking here: http://bit.ly/1UA9j2S