Is the Biden DOL Rule dead under Trump?
The Biden Administration put forth changes to section 3(21)(a)(ii) of ERISA in April 2024. Section 3(21)(a)(ii) of ERISA defines how an adviser can become an ERISA Fiduciary by providing “non-discretionary” advice. Since 1975 there has been a Five Part Test to determine if you were operating as an ERISA Fiduciary. The Biden Administration looked to amend this with a three-part test…
FPA Conference 2024
Last week I had the incredible honor of landing my first “paid” speaking gig. So, I want to give a great big shout out and say thank you to the Financial Planning Association (FPA) for allowing me to share my passion of ERISA law with many of your members. Yes, you read that right. I am very passionate about ERISA law. Specifically, the intersection of ERISA law and the financial professional working with their clients. We all have clients who ask us how they should be investing their 401(k) plan at work. Many advisers don’t know that answering that question may make you an ERISA Fiduciary. . . .
Fidelity vs pontera
FYI, late last night I read the article above about Fidelity blocking the use of the third parties to trade “held away” accounts . . . I know Fidelity’s announcement may change the way many advisers work with “held away” accounts after 10/2/2024. . . .