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Trends from the 2012 Fiduciary Survey of Investment Advisors and Registered Representatives

"The survey not only sought advisors' opinions on the fiduciary standard but also gauged their understanding of what such a standard means now, or would mean, to their businesses. Key findings in the first report on the survey pointed out that registered reps and investment advisors in the field believe that extending the fiduciary standard would not cost investors more for advice, limit access to advice or products nor price investors out of the market for advice."

Retirement Benefits Planning - What Not to Do

Excerpt: The following is an excerpt from 'Ten Common Errors,' part of a special report on retirement benefits that ran in the September issue of Trusts & Estates, a sister publication to Registered Rep. For many clients, retirement benefits are their largest asset. For others, they are important even if not determinative. For all, the rules governing retirement benefits are complicated. There's also a potential for tension between income tax planning and estate tax planning. So let's at least be sure to avoid these 10 common errors when planning for retirement benefits[.]

Financial Advisors, Trolling for 401(k) Treasure, Can Look to Congress

Excerpt: Sometime early next year, or perhaps even by year-end, Congress is expected to enact new pension legislation that would make it easier for financial advisors to work with participants in company retirement programs. That advisory relationship, say reps who have worked the 401(k) circuit under today's rules, can lead to IRA rollovers, referrals and the capture of boomer assets.

Brokers Fighting Their Former Employers Over Money Held in Deferred-Compensation Plans

Excerpt: A group of former Smith Barney advisors recently won a judgment that would return over $8 million in forfeited wages held in the company's Capital Appreciation Plan (CAP). Meanwhile, a former rep from the former Prudential Securities is challenging that firm's deferred-comp vehicle, MasterShare, on the grounds that it violates his rights under the Employee Retirement Income Security Act (ERISA).

Insure Against Longevity Risk With Immediate Annuities

The insurance industry's pitch: While retirees shouldn't annuitize all of their assets, income annuities offer unique qualities as an asset class when mixed into a broader portfolio of stocks and bonds. Those include high cash flow uncorrelated with equities or bonds, and alpha in the form of mortality credits, which are unique to insurance products.

New DOL Regulation Will Ratchet Up the Scrutiny of Bundled 401(k) Plan Fees

Excerpt: The reality is bundled services have the potential for conflicts of interest with proprietary funds, soft dollars, and undisclosed fees. This makes it difficult for plan sponsors to fulfill their fiduciary duty in verifying participant costs are reasonable. As a result of these drawbacks, plan participants could suffer and plan fiduciaries might be exposed to unnecessary liability.

For 401(k) Advisors, Compensation Models Must Change Under DOL Regs

"One key consequence of these regulations is level pricing for financial advisers (FAs) who provide services to 401(k) plans. This will be a big challenge for FAs who are accustomed to receiving fees that vary by asset class, investment provider and other factors."

How One 401(k) Advisor Gathered $10 Million in Two Months

Excerpt: The president and founder of Private Wealth Consultants, an RIA in Toledo, Ohio, [Gary] Rathbun has been on a tear for the last 2 months. His firm has brought in $10 million in 401(k) assets since July, and he is so confident about his approach that he's set his sights on $100 million within 12 months. His secret? Low-cost plans using ETFs instead of mutual funds, and an emphasis on the trust and accountability that comes with a fiduciary relationship.

The Cost of Retirement and How to Pay for It

Excerpt: [Ibbotson] Associates released its own savings guidelines for typical investors with different ages, income levels and initial accumulated wealth.

Fido Attacks! Fidelity vs. Schwab

Excerpt: Long a distant second to Charles Schwab in the lucrative business of serving financial advisors, Fidelity is making an aggressive push to close that gap. And some advisors are taking notice.