401(k) Specialist Issue 4 - 2016 - 18

401(k) FIDUCIARY
pletely off the hook? No! They have additional
responsibilities of properly examining
and vetting the manager. "
There is always a litigation risk, whether
or not a plan sponsor or advisor is a fiduciary,
he warns. Levy should know, having been
invited to file a Supreme Court amicus brief
in its landmark Tibble vs. Edison decision
involving fiduciary duty.
" They can act as a 3(21) and mitigate it
further under 3(38). Investment committees
are then relieved of additional responsibilities,
but they must still by properly examine
and vet the 3(38) manager. "
" IT'S NOT A TIME FOR
THE PREDICTED 150,000
ADVISORS TO LEAVE THE
INDUSTRY BECAUSE OF
THE FIDUCIARY RULE.
THAT'S 150,000 ADVISORS
THAT COULD SIT WITH
PEOPLE FACE-TO-FACE AND
MOTIVATE THEM TO SAVE
FOR RETIREMENT.
TROY TISUE
One point repeatedly made is that plan
sponsors (with the exception of some larger
plans) don't want to be in the fiduciary
business.
" Healthcare is consuming more of the
plans sponsor's and HR department's time, "
Roberts says. " If they hire a 3(38), they
don't have to sit there and listen to conversations
about Sharpe Ratios and other
technical aspects of managing the plan, and
it frees time for other tasks. "
And one solution for advisors to limit
their legal exposure is to partner up.
" It's unwise for smaller broker-dealers to
exit the retirement plan space, so they can
partner with RIAs to have the latter take
on the fiduciary services, " Rosenbaum says.
" Larger broker-dealers need a structure that
18 ISSUE 4 2016 | 401kSpecialistmag.com
allows them to remain in the retirement
plan space, but with limited fiduciary exposure.
That would mean designating certain
advisors with retirement plan exposure to
also serve in a fiduciary capacity. "
Or, they could partner with a firm that
specializes in offering packaged fiduciary
services like Tag.
" This approach makes life easier for the
401(k) advisor because then it's on us, "
Tisue concludes. " It's not a time for the
predicted 150,000 advisors to leave the
industry because of the fiduciary rule. That's
150,000 advisors that could sit with people
face-to-face and motivate them to save for
retirement. We can help. "

http://www.401kSpecialistmag.com

401(k) Specialist Issue 4 - 2016

Table of Contents for the Digital Edition of 401(k) Specialist Issue 4 - 2016

Table of Contents
401(k) Specialist Issue 4 - 2016 - Cover1
401(k) Specialist Issue 4 - 2016 - Table of Contents
401(k) Specialist Issue 4 - 2016 - 1
401(k) Specialist Issue 4 - 2016 - 2
401(k) Specialist Issue 4 - 2016 - 3
401(k) Specialist Issue 4 - 2016 - 4
401(k) Specialist Issue 4 - 2016 - 5
401(k) Specialist Issue 4 - 2016 - 6
401(k) Specialist Issue 4 - 2016 - 7
401(k) Specialist Issue 4 - 2016 - 8
401(k) Specialist Issue 4 - 2016 - 9
401(k) Specialist Issue 4 - 2016 - 10
401(k) Specialist Issue 4 - 2016 - 11
401(k) Specialist Issue 4 - 2016 - 12
401(k) Specialist Issue 4 - 2016 - 13
401(k) Specialist Issue 4 - 2016 - 14
401(k) Specialist Issue 4 - 2016 - 15
401(k) Specialist Issue 4 - 2016 - 16
401(k) Specialist Issue 4 - 2016 - 17
401(k) Specialist Issue 4 - 2016 - 18
401(k) Specialist Issue 4 - 2016 - 19
401(k) Specialist Issue 4 - 2016 - 20
401(k) Specialist Issue 4 - 2016 - 21
401(k) Specialist Issue 4 - 2016 - 22
401(k) Specialist Issue 4 - 2016 - 23
401(k) Specialist Issue 4 - 2016 - 24
401(k) Specialist Issue 4 - 2016 - 25
401(k) Specialist Issue 4 - 2016 - 26
401(k) Specialist Issue 4 - 2016 - 27
401(k) Specialist Issue 4 - 2016 - 28
401(k) Specialist Issue 4 - 2016 - 29
401(k) Specialist Issue 4 - 2016 - 30
401(k) Specialist Issue 4 - 2016 - 31
401(k) Specialist Issue 4 - 2016 - 32
401(k) Specialist Issue 4 - 2016 - 33
401(k) Specialist Issue 4 - 2016 - 34
401(k) Specialist Issue 4 - 2016 - 35
401(k) Specialist Issue 4 - 2016 - 36
401(k) Specialist Issue 4 - 2016 - 37
401(k) Specialist Issue 4 - 2016 - 38
401(k) Specialist Issue 4 - 2016 - 39
401(k) Specialist Issue 4 - 2016 - 40
401(k) Specialist Issue 4 - 2016 - 41
401(k) Specialist Issue 4 - 2016 - 42
401(k) Specialist Issue 4 - 2016 - 43
401(k) Specialist Issue 4 - 2016 - 44
401(k) Specialist Issue 4 - 2016 - Cover3
401(k) Specialist Issue 4 - 2016 - Cover4
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-3-2024
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-2-2024
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-1-2024
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-3-2023
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-2-2023
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-1-2023
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-3-2022
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-2-2022
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-1-2022
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-4-2021
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-3-2021
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-2-2021
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-1-2021
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-4-2020
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-3-2020
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-2-2020
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-1-2020
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-4-2019
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-3-2019
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-2-2019
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-1-2019
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-3-2018
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-2-2018
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-1-2018
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-4-2017
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-3-2017
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-2-2017
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-1-2017
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-4-2016
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-3-2016
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-2-2016
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-1-2016
https://www.nxtbook.com/401kspecialist/401k/401k-specialist-issue-1-2015
https://www.nxtbookmedia.com