Labor Secretary Marty Walsh confirmed expectations that he will leave the Biden Administration for the private sector. Walsh will join the NHL Players Association (NHLPA) as its executive director. In a sign of the times, he took to Twitter on Thursday to elaborate on his decision.  “Earlier this... READ MORE

Top ERISA attorneys agreed on the best course of action for advisors and home office personnel in the wake of this week’s seismic fiduciary ruling in Florida. In a lawsuit brought by the American Securities Association (ASA), a district court judge vacated parts of the Department of Labor’s (DOL)... READ MORE

A financial services trade group prevailed Monday in a key portion of its suit against the Department of Labor's fiduciary guidance involving rollovers. The United States District Court’s Middle District of Florida sided with the American Securities Association. It ruled that the DOL overstepped... READ MORE

The hyper-partisan polarization over environmental, social, and governance (ESG) investing strategies continued Monday with news of a growing “war” between GOP House leadership and the U.S. Chamber of Commerce. While the Chamber’s endorsement of Democrats in the midterms was primarily to blame, its... READ MORE

Labor Secretary Marty Walsh is said to be leaving the Biden Administration for the private sector as part of a broader cabinet shakeup in preparation for a possible 2024 Biden reelection run. Politico, citing hockey website The Daily Faceoff, said Walsh would leave to run the NHL Players... READ MORE

Worry over retirement is seeing an uptick, with 52% of respondents to a new survey indicating concern about saving enough for retirement compared with 45% in June. Similarly, 50% fear running out of money in retirement versus 46% in June. However, an “overwhelming majority” of investors who work... READ MORE

The possibilities (and controversy) surrounding artificial intelligence (AI)—specifically ChatGPT—continue. Supposedly on track to eventually replace writers, artists, and pretty much everyone, the most recent dustup involves students using it to cheat.  “We’ve trained a model called ChatGPT,... READ MORE

Inflation and higher prices overall are causing more Americans to take 401(k) hardship withdrawals.  The Wall Street Journal, citing Vanguard research, reported that a record 2.8% of the five million people in 401(k) plans run by the investment behemoth tapped their retirement savings in 2022 for... READ MORE

An interesting (scary) new report from Forbes Advisor details young Americans’ social media use in financial decision-making. Specifically, 79% of Millennials or Gen Zers have gotten financial advice from social media, 62% feel empowered by their access to financial advice on social media, and 50... READ MORE