"The advice to participants to request formal acknowledgment from their financial advisors of their status as a 'fiduciary' is dubious at best (for one problem, it's unlikely the average participant could draft a meaningful fiduciary contract). Smith's piece does not reflect the recent legislative and litigation efforts -- enhanced fee disclosure, increased fiduciary responsibilities -- which, while slow to develop and long overdue, are nonetheless beginning to address the very problems Smith laments."  MORE >>