As I was researching for this week's exclusive interview with 401k Averages Book co-editor David Huntley (see it here: "Exclusive Interview: David Huntley Explains Fees Just One Component of Value," FiduciaryNews.com, May 19, 2015), I stumbled upon something I wrote when I first reviewed the book in 2011:
"Over the next year or so, fee disclosures will become the trending topic among 401(k) plan sponsors and fiduciaries. It will be tempting to overweight this parameter, but proper fiduciary due diligence requires one to focus on what really matters to the beneficiary. Fees may matter (and, in certain circumstances like index fund expense ratios, they will matter). However, in some cases – like overall investment returns – fees may be of lesser concern."
What strikes me is how this so clearly marries the DOL proposed Conflict-of-Interest Rule and the impact of Tibble v. Edison.
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
