Elizabeth MacBride

If you are an Advisor who knows exactly what a Named Fiduciary, Limited Scope 3(21), 3(38) is, and can speak to all the various aspect of ERISA and DOL….do us all a favor. Call fund companies and recordkeeper services providers…and ask if they serve in these roles. I had a shock today when I did just that, called service providers and asked what fiduciary service they provide. The questions were direct, simple and ment to test if they actually knew what they were saying. In a few words….they said they do all of the ERISA requirements. The DOL should call the recordkeepers and ask these types of questions….then send letters and let them know the difference. It is about time someone sets the guidelines, to stop the plan industry lies.

A Q&A with Phyllis Borzi, the DoL powerbroker aiming to remake the retirement market

Phyllis Borzi: It’s quite common for an entity to be subject to multiple legal regimes.  ... It’s just the way things are.

ERISA

Phyllis Borzi

The RIA business is many good things but integrated from a gender standpoint is not one of them. This is not so great. Women are the majority of humanity and they have an asset-building strategy that can't be beat. Women outlive their beer-and-steak mates and end up with big estates. But today's women have too another strategy -- pursuing wealth in the workplace. Yet when they go to find fellow women to talk all this through with, they don't readily find them. 

Companies big and small have for decades fallen over themselves to say that they have women's initiatives but I can't think of one that has amounted to much. But there are stories-- dozens or hundreds -- of them about women exerting their influence on this business and we are starting to collect them. It's a starting place -- documenting the ground being covered by women in the form of engaging tales graphically depicted by the physiognomy of the fairer sex.

Women of Wealth Management

Borzi says she is pushing through Bush administration initiatives; her expansion of the fiduciary standard is drawing ire

A Q&A with Phyllis Borzi, the DoL powerbroker aiming to remake the retirement market

Craig Morningstar

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