An Hour with XMSR’s Pete Dominick…

I spend an hour discussing all sorts of really fascinating topics with Pete Dominick; its satellite, so there is the occasionally NSFW word here and there.   Fiduciary standards, retirement accounts, and why things are looking better   Why a modern 2 party system requires 2 scientific literate rational parties (we don’t have that)  

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DoL Fiduciary Rules Released

The new rules are here, and if you believe the devil is in the details, well, here are the details: • Fact Sheet: Middle Class Economics: Strengthening Retirement Security by Cracking Down on Conflicts of Interest in Retirement Savings • FAQs: Conflicts of Interest Rulemaking • Table: Changes from DEPARTMENT OF LABOR’S 2015 Conflict of Ineterest…

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Here Comes New Fiduciary Rules!

Here’s a question: Is the broker who advises you on your retirement account on your side? The answer is at the heart of the debate over the proposedDepartment of Labor fiduciary rules. Applying a fiduciary standard means the broker must put his customer’s interests ahead of his own. This is different from now, when nothing…

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What Are the Good Anti-Fiduciary Arguments?

The Department of Labor will soon be implementing a fiduciary standard for advisors conduct who mange money for retirement accounts such as 401k. There have been a number of people claiming that the fiduciary standard will be a disaster for investors, but I cannot find any solid anti-fiduciary arguments. So let me ask: What are the strong, logical arguments…

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The Evolution of Corporate-Sponsored Retirement Plans

Dan McConlogue is the Director of Corporate Retirement Plans at Ritholtz Wealth Management. Dan is the principal and founder of Eleven O’Clock Associates, a retirement plan consulting firm based in Florida. Dan joined RWM at the start of 2016, bringing over $70 million in assets, plus thousands of 401(k) participant clients whose assets are under advisement. Expect to see more…

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MiB: Financial Engines’ Jeff Maggioncalda

This week on our Masters in Business interview, we speak with Jeff Maggioncalda, co-founder and former CEO of Financial Engines. Co-founded with Nobel laureate William Sharpe, Financial Engines manages over $115 billion in corporate 401k plans using the capital asset pricing model insights Sharpe developed.  Financial Engines was a free website Sharpe had developed, and at the urging of…Read More

Retirement Inequality

In the Republican presidential debate Wednesday night, the issue of income inequality came up with surprising frequency. Why that happened is worthy of its own column; for now, let’s explore the issue with some recent data. Specifically, I want to consider inequality in the funding of our collective retirements. As a nation, we do a…Read More

Firing a Researcher on Fiduciaries for Breaching A Fiduciary Duty

Over the years, I have written and spoken positively about the fiduciary standard (see e.g., this or this or this). Simply stated, a fiduciary is obligated to put the client’s interest first. Period. It is higher duty of care owed to clients than the traditional broker “suitability standard.” I’ll say more another time about why the new Department of Labor…Read More

401Ks Should Not be Complicated or Expensive

Over the years, I have been critical of the way 401(k)s are created, administered and managed. They can be expensive and filled with underperforming actively managed funds, some of which charge way too much. Some retirement plans offer too little diversification, especially in international and emerging-market sectors. I have also noted that you, the individual investor,…Read More