401(k) Fridays Podcast

This episode is a follow on conversation to an episode a few months ago where we talked about the operational aspects of self-directed brokerage accounts in workplace retirement plans.  While you don’t have to listen to the prior episode first, it is definitely worth checking out if you are interested in the topic.  Today, Tom Clark, a Partner and ERISA Attorney with the Wagner Law Group and I jump into the sometimes scary and confusing fiduciary territory of offering self-directed brokerage accounts.  Tom shares great input on the general fiduciary concepts around self-directed brokerage, fee equity issues, discrimination issues, prohibited investments, the DOL’s attitude towards them and much more. Tom also talks about a few left turns employers can take off a cliff when offering self-directed brokerage accounts, a few great responses to participant questions about self-directed brokerage, thoughts on beanie babies  and his take on whether Ralphie will shoot his eye out.   Quick reminder, this will be our l