One of the great things about being a reporter is meeting all kinds of really smart people for all different walks of life. Fortunately, these people are kind enough to share their thoughts and opinions. This allows readers to gain the benefits of their insights and perspectives. Such was the case recently (see "What Will 2013 Bring to the World of 401k?" FiduciaryNews.com, January 8, 2013).
What amazed about that story was this: Of the four thought leaders interviewed, two agreed with the consensus that the DOL will finally issue its new Fiduciary Rule this year and two agreed the DOL would not issue a final rule on the subject. All four are close to Washington decision makers. Not one or two of them have any special "inside" knowledge. Yet, they're evenly split on the issue.
Here's what makes the matter even more interesting: The DOL has already come out and promised it would deliver a new Fiduciary Rule this year. (Contrast that to the SEC, which, although it promises to continue to look into the matter of the fiduciary standard, makes not such assurance it will actually decide on the issue anytime soon.)
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
