Some six months after the implementation of the first round of plan sponsor-level fee disclosure regulations, many in the retirement industry are feeling a little like we all did after Y2K – a massive build-up to nothing in particular.
But according to a panel of experts gathered at the FRA's DCIO Market conference in Boston, retirement advisors and plan sponsors may start to see more tangible results to the regulations in the coming year.
"Act 1 of fee disclosure was 'Much Ado About Nothing,'" noted Phyllis Klein, senior director of Captrust Financial Advisors' consulting research group. "Acts 2 and 3 may be 'Kill All the Lawyers.' We're just in a bit of a honeymoon period for now, but the legal community will start peeling away that onion soon enough."
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