More Lawsuits Mean Even More Problems for Stubborn Plan Sponsors
Excessive fee lawsuits now are a common occurrence throughout the financial industry. Every week you can hear about a major university or company pension plan being sued by the participants. However, the one thing that keeps on surprising us is the stubbornness of the plan sponsors to understand during the committee meetings that their duty of loyalty is to the employees, not to the company.
How advisors can avoid excessive fees lawsuits and become better fiduciaries at the same time
As we can see from the news excessive fee lawsuits are not going away. It makes a lot of sense that it continues to happen because people smell money. The...Read More
3 Updates on Current Fiduciary Lawsuits
We often talk about living in a “fiduciary era”, and new lawsuits are still a big part of it. Plan sponsors are facing lawsuits for excessive fees, poor performing funds,...Read More
What are the Best Ways to Avoid a 401K Fiduciary Lawsuit?
There are general guidelines provided by ERISA to follow by plan fiduciaries to avoid any unpleasant surprises in their practice when working with retirement plans. To successfully avoid any litigation...Read More
Avoiding lawsuits through fiduciary best practices
Within the course of the past few years from time to time we would hear about a case where a university, a hospital or a firm would be taken to...Read More
Excessive Fees Lawsuits Never Go Away
Not only professionals who work in the financial industry constantly hear about various lawsuits where participant-plaintiffs are suing plan administrators for breaching their fiduciary duty in the administration of the plan,...Read More
More Lawsuits: Ripple Effects from Tibble v. Edison
Late last summer, the U.S. District Court judge in the landmark 401(k) fee case, Tibble v. Edison, brought 10 years of legal wrangling to an end when he ruled in...Read More
A Financial Advisor’s Guide to Engaging Bullet Points
In the world of financial advising, differentiating your services and engaging your audience is paramount. The assumption that all plan advisors offer identical services and funds is widespread but incorrect....Read More
Turnabout Is Fair Play
Our team has written a lot about successful excessive lawsuit cases. Given the proliferation of these lawsuits, you would be forgiven for thinking that some of them may not have a whole lot of merit to them.
8 steps for Defined Contribution plans to consider in 2022
n the United States, defined contribution (DC) plans are facing unprecedented problems.According to Groom Law Group, the number of litigations under the Employee Retirement Income Security Act of 1974 (ERISA) reached a new high in 2020, with more than 200 new class action claims filed, and an increase of 80% in 2019.