18 Dec
2020

Let’s hope the regulation is worth it

first_imgI’m sure that “the regulation” needs little, if any, further definition. Just as “the drive” in Super Bowl annals will always be associated with John Elway and the Denver Broncos, “the regulation” is a good candidate to forever be associated with the Department of Labor and its fiduciary definition package of final regulations and exemptions.  This guidance has been that big.Big, of course, can mean a couple of things.  In terms of length in its Federal Register-published version – or any version, for that matter – the guidance is certainly big.  It fills more printed pages than any other in my 31 years in the retirement industry.  In terms of its potential impact on the way advisors do business with retirement investors, it is certainly big.  While notably improved over the proposed regulations, the final regulations are likely to be just as demanding in terms of the analysis required to comprehend what it all means, and configure operations and administration in order to comply.These DOL regulations contain a Regulatory Impact Analysis that attempts to quantify in dollars-and-cents terms the effort – translated into cost – that will be required to comply.  Notably, the costs being accounted for – whether or not they are reasonably accurate – measure chiefly those costs incurred by individuals and organizations involved in the advising relationship.  The brokerage, the mutual fund company, insurance company, street corner bank or credit union, and their employees or affiliates, are theoretically taken into account in this assessment of effort and cost. continue reading » 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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16 Sep
2020

Football: Here’s Wisconsin’s only highlight from the Big Ten Championship game

first_imgIt’s a day that will go down in infamy for the Wisconsin football team, but thanks to a caring Ohio State fan, Badgers supporters now can reflect on that fateful December Saturday in a slightly positive light.It must have taken a lot of digging to find Wisconsin’s best moments from the 2014 Big Ten Championship, but someone who loves rubbing it in had enough time on his or her hands to put together this short reel of Wisconsin’s finest minute from Ohio State’s 59-0 thumping of the Badgers.The term highlights is a bit of a misnomer because there was really only one highlight.Here it is:In case that brought back bad memories, here is the missed field goal that helped Wisconsin defeat Auburn in the Outback Bowl and salvage some dignity.Almost makes you want to dance now.last_img

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