DOL fiduciary rule fails by only focusing on fees and expenses
Fees and expenses matter, but in a procedurally prudent investment process, their management should account for less than 10% of a fiduciary's total efforts
About 10 years ago, one of the law firms involved with some of the first class-action lawsuits against 401(k) plan sponsors and service providers met with me to see if I would consider serving as an expert witness. I asked the legal team, why are you only focusing on fees and expenses? One of the at
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