Fi360 Fiduciary Talk fi360, Inc.

While the direction of health care is nearly impossible to predict, the rise in health savings accounts appears to be inevitable. And under the DOL fiduciary rule, advice on these accounts will be considered a fiduciary act. In this episode, Blaine and Duane discuss HSAs and what advisors need to know when considering these accounts for their clients.

As new guaranteed income solutions crop up in the market, regulators appear to be on board with making them more accessible via 401(k) plans. In this episode, Blaine and Duane discuss the trends driving the guaranteed income market and what regulators have said in terms of making them available to participants, including as QDIAs.

When the government engages in rulemaking, as in the case of the DOL’s “fiduciary” rule, their duty is to develop policies that are in the bests interests of the public. Does that equate to a fiduciary duty akin to the one expected for investment advisors? In this episode, Blaine makes the argument that it does and discusses with Duane the sources of those fiduciary duties.

Even with a delay possibly forthcoming via the President’s executive order, the DOL’s “Fiduciary” Rule won an important victory when it was upheld in a Texas court decision. In this episode, Blaine and Duane discuss the latest developments in the ongoing battle over the DOL Conflict of Interest rule, what happens next, and what advisors should do now.

In this episode, Blaine and Duane discuss the release of a second set of FAQs from the DOL on its Conflicts of Interest Rule. The new FAQs cover a number of scenarios, with a particular focus on activities that would not be considered fiduciary recommendations under the new definition.

An overlooked aspect of the DOL’s fiduciary rule is that it introduces a “holding out” fiduciary status, where titles that imply fiduciary status will hold the advisor to that standard. Even with the uncertainty around the fiduciary rule, this trend appears likely to continue, as even opponents of the rule have demonstrated support for regulating titles that cause confusion with the investing public.