Tag: fiduciary rule
The product is too opaque for most fiduciaries to perform robust due diligence. Having recently argued that Bitcoin does not belong in 401(k) plans, a reporter asked me my view regarding private equity. While private equity – unlike Bitcoin – passes the threshold test under ERISA of being a generally acceptable asset class to a…
The Department of Labor eliminates most conflicts of interest in investment advice. The Department of Labor’s revised “fiduciary rule” is a great victory for consumers. The rule is complicated but the goal is to make sure that those in the financial services industry act as fiduciaries – that is act “solely in the interest” of…