If you’ve been in the retirement game for more than five minutes, you know that the "Goldilocks" portfolio, that 60/40 split of stocks and bonds, has been looking a little dusty lately.

For years, financial firms have been staring longingly at the returns generated by institutional players in the private equity and crypto markets, wondering, "Why can’t my 401(k) clients have a slice of that?"

Well, the Department of Labor (DOL) just dropped a bombshell…

Well, here we are. It’s March 2026, and if you feel like you’ve been caught in a legal time machine, you aren't alone.

The whiplash is real!!

After years of legal gymnastics, the 2024 Biden-era Retirement Security Rule has been vacated by the courts, and the Department of Labor (DOL) has officially retreated to the 1975 trenches….

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Much has been written about this David V Goliath battle.  I was even quoted in several articles confirming the issue.

But one thing that has been missing from all the articles is the “WHY” this is occurring.

What’s at stake?

WHY would Fidelity and Schwab go out of their way to prevent financial advisers from implementing advice for hard-working Americans?

What reason could possibly be so justifiable for them to do this?

Well, that’s simple . . .

On Friday, I received several emails at our “trading” domain about the NY Times article discussing the battle between Fidelity and Pontera. You can read the NY Times article by CLICKING HERE (I had to pay to read it).

Now, before I go on and give my “two cents” as the “ERISA Nerd”, I need to let you all know that I am biased!