Insights from the experts in investment fiduciary responsibility.

Fiduciary Links: Comments related to the SEC’s Fiduciary Rulemaking have arrived

Posted by Rich Lynch on July 08, 2013

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>>>>Comments related to the SEC’s request for information on “Duties of Brokers, Dealers, and Investment Advisers,” i.e., the much-awaited, potentially harmonized fiduciary standard for brokers and advisers, are the big story of the week as the SEC’s comment period came to a close on Friday.  As expected, there is a divergence of opinions and long response list that has continued to grow throughout the day, but most responses are light on data to support their point of view.  The SEC was particularly interested in data that could be used to support their cost benefit analysis.  Coverage of comments are linked below. Stay tuned for a post later this week summarizing fi360’s response. 

>>>>A Planadviser article from last week alerted us to a behavioral finance paper, “Mitigating Behavioral Risk,” by Alison Salka, corporate vice president of retirement research at LIMRA.  Salka submits that behavioral finance can help reduce retirement risk and suggests that behavioral risk should be added to and regularly addressed along with the three commonly referenced risks of retirement – longevity, inflation, and marketplace risk.  As evidence, she points out that behavioral finance has already been used effectively with the addition of auto retirement plan features designed to overcome participant inertia; with target date funds to address risk-adverse investors; and in reducing the number of investment choices because people get overwhelmed when the numbers of choices is too large.

Now on to the rest of the best links from last week:

News and columns from the leading trade, consumer, and mainstream media:

From the organizations/associations/government/academia: 

From the blogs:

Articles your clients are reading (or should be):

Have a link we missed? Leave them in the comments section or email us at For more of the best links during the week, make sure you follow us on Twitter.  

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