Fiduciary Links: More on the Johnson amendment

The news of Sen. Tim Johnson's proposed amendment for a study on regulatory standards for investment advice, rather than actually enacting a standard, has predictably led to strong reactions. I don't typically like to lead off the Fiduciary Links with the same subject two weeks in a row, but with this being the dominant story from the past week, it seemed like it deserved its own category:

• Advisor, financial-planning and consumer groups quickly lined up in opposition [InvestmentNews]
• If the Johnson amendment stays, does it open the door to adviser regulation from FINRA? [RIABiz]
• Is the Johnson bill a negotiating tactic? [Registered Rep]
• Bob Clarke says that the bright side to the amendment is that it shows the brokerage and insurance industries are legitimately worried that a fiduciary standard is coming. [Investment Advisor]
• Looking at the Johnson amendment and the difficult fight over a fiduciary standard [New York Times]
• Kate McBride laments the fact that putting investors' best interests first needs to be studied [Wealth Manager Web]

And, if you missed Kristina's post from last week, you can see why we think the amendment is bad for investors. We would encourage you to let Johnson and the rest of the Senate Banking Committee know what you think as well.

Now on to the rest of the best links from the last week.

In the news/commentary:

• Despite the guarantee, annuities aren't always a bargain [Wall Street Journal]
• A new financial reform bill is due from Dodd this week [Wall Street Journal]
• Target date fund transparency on the SEC and DOL's to-do list [Financial Advisor]
• A look at how fees impact 401(k) plan results [Financial Advisor]

From the organizations/associations/government/academia:

• The SEC's Investor Advisory Committee is meeting today, and their agenda includes a discussion of the fiduciary standard [SEC]

From the blogs:

• The Curious Capitalist thinks proactive measures are needed on top of a fiduciary standard in regulatory reform. [Time]
• The Bucks Blog presents a fiduciary pledge investors should ask their advisors to sign [New York Times]
• The Committee for the Fiduciary Standard's Knut Rostad talks about how most brokers want a fiduciary standard and already conducts themselves as if there was one. [Wall Street Journal]
• The number one hope for upcoming DOL 401(k) advice regulations: conflict-free advice [The 401(k) Fiduciary Advice Blog]
• A look at a 401(k) plan that exemplifies the need for regulatory reform [Huffington Post]
• A blogger suggests tying compensation to performance to address concerns about broker motives. However, he seems to miss the point that a fiduciary duty is about process. [The Atlantic]

Have a link we missed? Leave them in the comments section or email us at blog@fi360.com. For more of the best links during the week, make sure you follow us on Twitter.