Tag Archives: DOL

NYTimes: Think Your Retirement Plan Is Bad? Talk to a Teacher

For all my non-educator clients out there, please pass this NY Times article along.

“Schoolteachers and others who pursue careers of service in exchange for modest paychecks get lightly regulated retirement plans that often charge excessive fees.”

Continue reading NYTimes: Think Your Retirement Plan Is Bad? Talk to a Teacher


Chamber Fails At Astroturfing Fiduciary Rule

Well this must be embarrassing. The US Chamber of Commerce launched a campaign to “inform” the public to the problem of providing advice in the best interest of clients. You’d think that acting on your client’s behalf would not be controversial, but you’d be wrong. There is a lot of money to be made in the financial services industry by doing the wrong thing (though there is more to be made by doing the right thing).  Continue reading Chamber Fails At Astroturfing Fiduciary Rule


Fiduciary Debate War Rages – Advisor or Salesperson?

Recall my piece from awhile back: ASPPA Disclosure. As well as Michael Kitces piece – The Public Deserves A Choice, But It’s Not Fiduciary Vs Suitability. If you think the brokerage world has your best interest at heart…think again.

Supporters of the DOL’s efforts scoffed at Reilly’s note.

“This is as Orwellian as it gets,” says Barbara Roper, director of investor protection with the Consumer Federation of America in Washington, D.C. “They will serve their clients best by defeating a regulation that would require them to do what’s best for their clients?”

“If it is not in the best interests of customers, it’s not advice, it’s a sales pitch,” Roper continues. “That’s what they are fighting for here, to portray themselves as advisors while they are being regulated as salespeople.”

Raymond James CEO Calls on Advisors to Fight DOL Fiduciary Definition

Scott Dauenhauer CFP, MPAS, AIF