As the sands of time slowly dissolve into the bottomless pit of eternity's hourglass, it helps to use important mileposts like the advent of a new year to measure how far we've moved since the last milepost. 2013 was supposed to bring the issue of the fiduciary standard to a head. Instead, delays have moved that into 2014. But 2013 proved that time eventually erodes all myths.

Morningstar Star Ratings: Do They or Don't They Predict?” (FiduciaryNews.com, Jan. 29, 2013) The idea that mutual fund rating agencies might have lost their magic stems from the trend of moving to single portfolios, which called into question the relevance of those rating agencies. But, upon closer analysis, we began to wonder if the ratings really meant anything in the first place. Early Morningstar studies indicated their ratings weren't meant to be predictive. After conflicting subsequent studies, most seem to agree it's best to use Morningstar for its data aggregation value and not its ratings system.

Anticipating the Bond Bubble Burst: Protecting Your 401k Plan,” (FiduciaryNews.com, March 19, 2013) This article in itself merely repeated the warnings of the last three years. This time, however, the real danger would show up sooner. When the feds began to hint about quantitative easing, bond funds and certain balanced funds felt the pinch of a sudden rise in interest rates. So, while the equity markets teased all-time highs, bond funds lost money.

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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).