October 26, 2016

Fred Reish Quoted in Media Regarding Adviser Compensation Under Best Interest Contract Exemption

Los Angeles partner Fred Reish was quoted in an InvestmentNews article titled, “Adviser compensation, rollovers most complex factors under DOL fiduciary rule” and a Barron’s article titled, “Headaches Loom in Rollovers, Compensation.” Both articles cover the particularly sticky situation of adviser compensation under the DOL’s best-interest contract exemption (BICE).

Fred notes adviser compensation under BICE is “probably the single most complicated thing in the whole rule,” and that the compensation calculation under BICE has to occur at both the broker-dealer and adviser level. “Any differences in compensation between investment categories at the adviser level must be justified by “neutral factors, such as time, complexity, effort and value,” Fred said.

“If there’s one area I think you need to be the most highly attentive to under the new rule, this is it.”

Read “Adviser compensation, rollovers most complex factors under DOL fiduciary rule.”

Read “Headaches Loom in Rollovers, Compensation.” 

The Faegre Drinker Biddle & Reath LLP website uses cookies to make your browsing experience as useful as possible. In order to have the full site experience, keep cookies enabled on your web browser. By browsing our site with cookies enabled, you are agreeing to their use. Review Faegre Drinker Biddle & Reath LLP's cookies information for more details.