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Ted Godbout

By Ted Godbout | 6/24/2019
Marking the one-year anniversary of the 5th Circuit Court of Appeals’ Order vacating the Department of Labor’s fiduciary rule, key Democratic members of Congress have asked the Government Accountability Office to examine how the financial services industry has responded since then.   In their... READ MORE
By Ted Godbout | 6/21/2019
A new report warns that with uncertainty on the rise, investors and advisors apparently are recalibrating their financial outlook. Two-thirds of investors (66%) and more than half of RIAs and fee-based advisors (56%) anticipate market volatility will increase over the next 12 months. This is... READ MORE
By Ted Godbout | 6/21/2019
The House Ways & Means Committee has voted to extend a vast array of individual and corporate tax provisions, including special disaster-related rules for use of retirement funds. Disaster Relief Assistance The Committee late June 20 approved the Taxpayer Certainty and Disaster Tax Relief Act... READ MORE
By Ted Godbout | 6/21/2019
Allison H. Lee of Colorado has been confirmed by the U.S. Senate to fill the open Democratic slot for commissioner of the Securities and Exchange Commission. Lee will serve out the remainder of a five-year term expiring June 5, 2022, for the seat that was vacated by former Commissioner Kara Stein... READ MORE
By Ted Godbout | 6/19/2019
Not wasting any time, the Garden State has announced that it will hold a July 17 hearing in connection with its proposed new fiduciary standards. According to an announcement in the New Jersey Register, the Bureau of Securities also simultaneously announced that it is extending the comment period... READ MORE
By Ted Godbout | 6/17/2019
Ever wonder what would happen in a world without defined contribution plans? Or a world in which everyone had one? A new study by the Employee Benefit Research Institute examines what impact these scenarios would have on retirement income adequacy. In recent years, various policy proposals have... READ MORE
By Ted Godbout | 6/17/2019
Consistent with prior input from the American Retirement Association, New Jersey correctly excluded ERISA plan fiduciaries from the application of its proposed new fiduciary standards. In a June 14th comment letter, the ARA – parent organization of the National Association of Plan Advisors –... READ MORE
By Ted Godbout | 6/16/2019
Contending that the SEC’s new Regulation Best Interest falls short, the Massachusetts’ Secretary of the Commonwealth plans to enter the fiduciary rulemaking fray. William Galvin announced June 14 that his Securities Division is seeking preliminary comments on a proposed regulation that would apply... READ MORE
By Ted Godbout | 6/14/2019
Consumers remain impacted by a stigma over annuities, but the appeal of guaranteed lifetime income products climbs sharply when framed as part of a clear retirement income strategy, new research shows.  According to the 5th annual Guaranteed Lifetime Income Study by Greenwald & Associates and... READ MORE
By Ted Godbout | 6/14/2019
A new study suggests that employers that focus on the financial well-being of their workers have a significant opportunity to improve employees’ financial health, while also benefiting their business.   Conducted by the Financial Health Network on behalf of Morgan Stanley at Work, the survey of 1,... READ MORE
By Ted Godbout | 6/12/2019
An annual bellwether report on corporate retirement plans finds that the retirement readiness for participants in those plans is brighter due to plan design enhancements and adoption of prudent investing practices.  In fact, the usage of automatic enrollment has tripled since year-end 2007 and has... READ MORE
By Ted Godbout | 6/12/2019
Following a contentious markup session, a key House Committee approved legislation on June 11 that would address the funding problems facing multiemployer pension plans.  The House Education & Labor Committee’s approval of an amended version of the Rehabilitation for Multiemployer Pensions Act... READ MORE
By Ted Godbout | 6/12/2019
Participant trading activity among 401(k) investors edged up last month, with May seeing the highest monthly net trades so far this year.   Amid a declining month on Wall Street, the Alight Solutions 401(k) Index shows that net trades in May amounted to 0.21% of balances. Additionally, there were... READ MORE
By Ted Godbout | 6/11/2019
Registered investment advisors appear to be missing a key business opportunity by not offering health savings accounts to their clients, according to the results of a new survey. Nearly 60% of RIAs polled by HSA provider HealthSavings Administrators are not offering HSAs to their clients, and... READ MORE
By Ted Godbout | 6/10/2019
The ink is not yet dry on the SEC’s new investment advice package, but the prospects of a looming legal battle have already surfaced.  The SEC voted 3-1 on June 5 to put in place a new “best interest” standard of conduct for broker-dealers – the Regulation Best Interest – along with a new Form CRS... READ MORE
By Ted Godbout | 6/10/2019
New research shows that large, top-performing RIA firms are outperforming their peers by investing in people, technology and acquisitions as part of a long-term strategic plan.  According to the data gathered for TD Ameritrade Institutional’s annual FA Insight Study of Advisory Firms, the top-tier... READ MORE
By Ted Godbout | 6/7/2019
Following House passage of the bipartisan SECURE Act last month, it looked like the legislation was headed for quick enactment. Since then, however, the realities of the Senate’s legislative process appear to have taken over.    A quick recap from where we last left off: On May 23, the House... READ MORE
By Ted Godbout | 6/6/2019
As the SEC was voting on its final investment advice rulemaking package, a Capitol Hill hearing was taking place to consider President Trump’s nominee to fill the open Democratic commissioner's seat.  The June 5 hearing to consider Allison Lee’s nomination to fill the vacant seat on the Commission... READ MORE
By Ted Godbout | 6/6/2019
On June 5, the Securities and Exchange Commission voted 3-1 along party lines to put in place new standards for broker-dealers and investment advisers – including some new considerations regarding retirement plan rollover recommendations. The lone “no” vote (on all four issues before the SEC) came... READ MORE
By Ted Godbout | 6/5/2019
A large majority of individuals say they are comfortable financially, but many also report that they are struggling to save for retirement, according to the Federal Reserve Board. It its latest “Report on the Economic Well-Being of U.S. Households,” the Fed found that most measures of economic... READ MORE

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