As referenced in the episode \u201cThe Foundation\u201d from Seinfeld, Dr. McCoy did say at the end of Star Trek II after the death of Spock: \u201cHe\u2019s really not dead, as long as remember him.\u201d<\/p>\n
I feel the same way about the Department of Labor\u2019s new fiduciary rule that was cut down before it was fully implemented, gutted by the Trump administration and the courts. I believe that the rule still has an effect in the marketplace as plan sponsors understand their fiduciary responsibility a little more thanks to the media attention to the new rule. In addition, there are many broker-dealers who realize that after spending millions to comply with the new rule, they can\u2019t simply turn back the clock and act if the new rule never happened.<\/p>\n
I believe that the new rule acted as a wakeup call to plan sponsors and the industry that fiduciary responsibility for the plan sponsor is a lot more important than who gets paid for what investment they pick and that the plan sponsor\u2019s clients needs outweigh any trail. In the end, I also believe just because the latest attempt to replace a 40+-year-old fiduciary rule doesn\u2019t mean the DOL won\u2019t try again because they will.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" As referenced in the episode \u201cThe Foundation\u201d from Seinfeld, Dr. McCoy did say at the end of Star Trek II after the death of Spock: \u201cHe\u2019s really not dead, as long as remember him.\u201d I feel the same way about … Continue reading