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FSI

White House Memo: A Moment of Opportunity for Fiduciaries to Retirement Plans

February 5, 2015 by admin

Famous showdown between "Fast Eddie" Felson and “Minnesota Fats” in the iconic American film, The Hustler
Showdown between “Fast Eddie” Felson and “Minnesota Fats” in the iconic American film, The Hustler

If you think we’re letting go of the “fumbling children” reference made by FSI chairman Adam Antoniades, you have another thing coming. He reminds me of the proud “Minnesota Fats” character in the classic film The Hustler— he doesn’t want to recognize the truth and talent of the situation he’s faced with by “Fast Eddie” Felson (Paul Newman), because it means that his reign as best player has ended.

Mr Antoniades goes so far to call the leaked White House Memo from January 13 simplistic, though it refers to more PhD studies than his fumbling response could even spell, so he’ll have to try and respond again.

[Read more…] about White House Memo: A Moment of Opportunity for Fiduciaries to Retirement Plans

Filed Under: Blog, Castle Rock Investment Company, Fiduciary, Industry News, Michele Suriano, Retirement Plans, Uncategorized Tagged With: #SaveOurRetirement, Castle Rock Investment Company, Conflicted Investment Advice, Department of Labor, Discussions, Fiduciary, FSI, Google Scholar, Investment Advisor, January 13 2015, Michele Suriano, Opinion, Phyllis Borzi, Registered Investment Advisor, retirement, retirement advice loophole, Retirement Industry, Save Our Retirement, White House Memo, workplace retirement plans

Not that Complicated

February 2, 2015 by admin

FSI Chairman Adam Antoniades, from Think Advisor
FSI Chairman Adam Antoniades, from ThinkAdvisor

In any fight, there are two sides waving their arms around.

The Financial Services Institute, or FSI, states in response to a recent White House memo that changing the way the delicate fiduciary system is run will ruin everything. The Financial Services Institute, or FSI, is in opposition to redefining the Fiduciary Standard as it is proposed because of various reasons, some more partisan than others. In general, the FSI puts investor advisors first, and the DOL puts workers and clients first.

How could increased or maintained responsibility of advisors lead to greater abuse of power? Among the first things said by the FSI is the atypical “hrrumph, well people outside the industry just don’t understand the complexities of how we deal with these things.” When in reality, it’s not that complicated: you protect the interest of your clients retirement if you are forced to put their interests first under the law, so why not stop dancing around this and just execute the priority anyway?

Demand protection for your retirement you deserve. Sign the petition to here at SaveOurRetirement.org: http://saveourretirement.com/take-action.html

 

Michele L. Suriano, Accredited Investment Fiduciary™, is president of Castle Rock Investment Company, a woman-owned SEC registered investment advisory firm serving qualified retirement plans. www.CastleRockInvesting.com

Filed Under: 401K, Advice, Blog, Castle Rock Investment Company, Department of Labor, ERISA, Fiduciary, Industry News, Michele Suriano, Plan Administrator, Uncategorized Tagged With: Adam Antoniades, Castle Rock, Castle Rock Investment Company, Department of Labor, Discussions, DOL, ERISA, Fiduciary, Financial Services Institute, FSI, hidden fees, Michele Suriano, Phyllis Borzi, Plan Sponsor, retirement, retirement advice loophole, ThinkAdvisor, workplace retirement plans

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Castle Rock Investment Company, formed in 2006, is an independent woman-owned SEC-registered investment adviser located in Castle Rock, Colorado. We specialize in individual financial plans and qualified service plans.

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