Blogging About Fee Disclosure

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Sep24Excessive Compensation Prohibition
by Louis S. Harvey, CEO Dalbar, Inc. on Sep 24, 2016

No Exceptions The DoL Fiduciary Rule (“Rule”) prohibits advisors from receiving excessive compensation from any IRA or ERISA Plan for both existing and new business! While there are many exemptions and exceptions built into the Rule, there i...
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Nov22BICE Compensation Limits are not Benchmarks
by Louis S. Harvey, CEO Dalbar, Inc. on Nov 22, 2016

 The Best Interest Contract Exemption requires that advisor compensation from every Retirement Investor be less than a reasonable level. This is not a benchmark or goal to be achieved. It is quite the opposite, it is a cap on prices. It is a com...
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Sep11The Backbone of Excessive Fees
by Louis S. Harvey, CEO Dalbar, Inc. on Sep 11, 2016

Regulations call for reasonableness of fees but while the term may seem vague, there is a very specific standard that has been affirmed by the Supreme Court. Reliance on this standard is the best possible compliance and protection from excessive fee...
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Apr14Death by Benchmarking
by Louis S. Harvey, CEO Dalbar, Inc. on Apr 14, 2016

While far less torturous than the Imperial Chinese method of execution known as “Death by 1000 Cuts” (Ling Chi), the use of calculated benchmarks to comply with the compensation restrictions in the new fiduciary rule is just as devastating to the ad...
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Sep20Assessing Compensation Reasonableness of Retirement Investment Advisers
by Louis S. Harvey, CEO Dalbar, Inc. on Sep 20, 2016

 The 21st century has seen an escalation in the focus on retirement adviser compensation coming from a plethora of lawsuits, new laws from Congress, Regulatory action and even the President promising to cut $17 billion from adviser’s pay.
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Louis S. Harvey
President & CEO



Founder and leader of Dalbar, Lou Harvey is relentless in the search for the forces that are shaping the world of financial services today, tomorrow and for years hence. Using Dalbar’s research capabilities, Lou Harvey seeks insights from inside and outside the industry to understand and anticipate changes in customers’ needs and the ways products are distributed.


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