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DOL Fiduciary News: September 26, 2016

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White Paper Offers Fiduciaries Direction on Handling TDFs

PLANADVISER | September 22, 2016

Beaumont Capital Management has released a new white paper which digs into the specific details of the Department of Labor (DOL)’s new rules outlining fiduciary responsibility in regard to the management of target date funds (TDFs).

“The target date fund is one of the most commonly utilized offerings in 401(k) plans, and for good reason,” says Dave Haviland, BCM’s Managing Partner and Portfolio Manager, and author of the new whitepaper. “For the participant, they are a straightforward way to start investing for retirement. However, since the failures of many first-generation TDFs, including their performance in the 2008 market downturn, the DOL has a close watch on this class of funds. TDFs can no longer live in a ‘set-it-and-forget-it’ era, and the DOL has taken steps to assure that plan fiduciaries know exactly what they are providing in their TDFs and that they are serving the best interests of plan participants.”

DOL fiduciary rule expected to put new pressure on mutual fund expenses

InvestmentNews; Sep 23, 2016 @ 1:04 pm

The ripple effects of the Department of Labor's fiduciary rule is expected to put new pressure on mutual fund fees, and could even lead to fewer fund share classes, according to a report from S&P Global Market Intelligence.

The DOL rule, which was announced in April and is scheduled to be initially rolled out in April 2017, focuses on the fiduciary responsibilities of financial advisers with regard to retirement accounts, but the ultimate fallout could spread across the fund industry, according to some advisers and industry watchers.

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