401(k) Specialist Issue 1 - 2016 - 12
THE FIDUCIARY FILE
JPMorgan Prevails in
'London Whale' 401(k)
Fiduciary Lawsuit
MORE ON THE DANGERS of owning company stock in a 401(k) plan-this time it's
about subjecting plan participants to potential headline risk.
Bloomberg reports JPMorgan Chase & Co. " once again defeated a lawsuit challenging
losses in its 401(k) and employee stock ownership plans, despite an intervening
U.S. Supreme Court decision changing the standard for these types of claims. "
The thrust of the class action case brought against the company was that the
actions of Bruno Iksil, nicknamed " the London Whale, " whose large derivatives market
bets resulted in a $6.2 billion trading loss for the company in 2012, cost participants
who held ESOPs and company stock in their 401(k)s.
In its dismissal, the court found that the company as plan sponsor could not be
held liable for the actions of the company as the employer of said London Whale,
which " they were two separate entities, each not responsible for the other. "
Fun, 401(k)s
Mixed Well at
TD Ameritrade
LINC 2016
IN A BIT OF inventiveness on the part of show
organizers to do something (anything) to snap
the monotony of conference breakouts, TD
Ameritrade hosted " Skip Center " at its National
LINC gathering in Orlando in early February.
A playful take on SportsCenter, the 401(k)
and retirement planning session played
heavily on references to the upcoming
Super Bowl 50 matchup between the Denver
Broncos and Carolina Panthers. Hosted by
Skip Schweiss, president of TD Ameritrade
Trust Company (and all things fiduciary), it
featured special guests, voiceovers and slick
graphics found on most ESPN-style shows.
" Tom Brady has so much time on his hands
he can go back to school for his economics
degree on the effects of deflation, " Schweiss
opened to groans from the audience.
" The sheer size of the market is far
outpacing even the asset management
space in terms of growth, " Schweiss said.
" Think about the reasons why; participants
put money into 401(k)s every two weeks,
whether the market is up, flat or down. How
many of your asset management clients add
money to their portfolio that consistently? "
He then noted the preference for fiduciary
advisors, mentioning that many RIAs are
already acting in a fiduciary capacity, and that
RIAs are seen as providing a better level of
fiduciary advice than non-RIAs overall.
" We found that 60% of plan sponsors are not
fully aware of fee disclosure regulations four
years after their implementation. Additionally,
30% of plan sponsors who aren't
using RIAs have done nothing new to
understand fee disclosure regulations
at all. "
12 ISSUE 1 2016 | 401kSpecialistmag.com
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401(k) Specialist Issue 1 - 2016
Table of Contents for the Digital Edition of 401(k) Specialist Issue 1 - 2016
Table of Contents
401(k) Specialist Issue 1 - 2016 - Cover1
401(k) Specialist Issue 1 - 2016 - Table of Contents
401(k) Specialist Issue 1 - 2016 - 1
401(k) Specialist Issue 1 - 2016 - 2
401(k) Specialist Issue 1 - 2016 - 3
401(k) Specialist Issue 1 - 2016 - 4
401(k) Specialist Issue 1 - 2016 - 5
401(k) Specialist Issue 1 - 2016 - 6
401(k) Specialist Issue 1 - 2016 - 7
401(k) Specialist Issue 1 - 2016 - 8
401(k) Specialist Issue 1 - 2016 - 9
401(k) Specialist Issue 1 - 2016 - 10
401(k) Specialist Issue 1 - 2016 - 11
401(k) Specialist Issue 1 - 2016 - 12
401(k) Specialist Issue 1 - 2016 - 13
401(k) Specialist Issue 1 - 2016 - 14
401(k) Specialist Issue 1 - 2016 - 15
401(k) Specialist Issue 1 - 2016 - 16
401(k) Specialist Issue 1 - 2016 - 17
401(k) Specialist Issue 1 - 2016 - 18
401(k) Specialist Issue 1 - 2016 - 19
401(k) Specialist Issue 1 - 2016 - 20
401(k) Specialist Issue 1 - 2016 - 21
401(k) Specialist Issue 1 - 2016 - 22
401(k) Specialist Issue 1 - 2016 - 23
401(k) Specialist Issue 1 - 2016 - 24
401(k) Specialist Issue 1 - 2016 - 25
401(k) Specialist Issue 1 - 2016 - 26
401(k) Specialist Issue 1 - 2016 - 27
401(k) Specialist Issue 1 - 2016 - 28
401(k) Specialist Issue 1 - 2016 - 29
401(k) Specialist Issue 1 - 2016 - 30
401(k) Specialist Issue 1 - 2016 - 31
401(k) Specialist Issue 1 - 2016 - 32
401(k) Specialist Issue 1 - 2016 - 33
401(k) Specialist Issue 1 - 2016 - 34
401(k) Specialist Issue 1 - 2016 - 35
401(k) Specialist Issue 1 - 2016 - 36
401(k) Specialist Issue 1 - 2016 - 37
401(k) Specialist Issue 1 - 2016 - 38
401(k) Specialist Issue 1 - 2016 - 39
401(k) Specialist Issue 1 - 2016 - 40
401(k) Specialist Issue 1 - 2016 - 41
401(k) Specialist Issue 1 - 2016 - 42
401(k) Specialist Issue 1 - 2016 - 43
401(k) Specialist Issue 1 - 2016 - 44
401(k) Specialist Issue 1 - 2016 - Cover3
401(k) Specialist Issue 1 - 2016 - Cover4
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