Monthly Archives: April 2017

TEDxPortland Donates Backpacks to Arnerich Massena’s I AM Learning Partnership

A huge dose of gratitude to TEDxPortland and David Rae, who are gifting the Poler backpacks left over from the TEDxPortland event to the children of Arnerich Massena’s I AM Learning Partnership. More than 30 of these fantastic backpacks will be handed out to students who attend the I AM Learning Partnership summer programs. (Read a description of a past summer camp here.) Read more »

What is the Fed’s next move?

The Federal Reserve has some plans for the coming year. In addition to the possibility of more rate hikes, The Fed is considering a start to unwinding the $4.5 trillion in bonds on the central bank’s balance sheet. In the March meeting of the Federal Open Market Committee, officials stated that the unwind is likely to begin this year, although no details about when or how were addressed. Read more »

Legislative Updates: First Quarter 2017

THE DEPARTMENT OF LABOR (DOL) DELAYS FIDUCIARY RULE FOR 60 DAYS

On April 4, 2017, the DOL issued a final rule delaying the Fiduciary Rule until June 9, 2017. The rule also delays transitional requirements of the Best Interest Contract Exemption and other prohibited transaction exemptions to June 9, 2017. This delay may provide some relief for institutions trying to meet the previous deadline of April 10, 2017. However, given the short length of the delay of only 60 days, institutions need to make a quick decision to finalize their compliance plans or delay their compliance efforts until the DOL releases its analysis. Read more »

Department of Labor Delays Applicability of the Fiduciary Rule

At Arnerich Massena, we are proud that we have always been ahead of the curve on this issue, acknowledging fiduciary status since our inception and offering independent, unbiased advice to retirement plans. Regardless of the outcome of the review, we will continue to acknowledge our fiduciary status and work in the best interest of plan participants.

The Department of Labor’s (DOL) fiduciary rule was set to go into effect on April 10, 2017, but the DOL has announced that the rule has been delayed by 60 days. A Presidential Memorandum issued on February 3 requested that the DOL complete a comprehensive analysis of the rule and its impacts. This delay is intended to allow enough time to evaluate the regulation before it goes into effect. The new applicability date is June 9, 2017. Read more »

Lessons on Trustee Selection, Live from the Staples Center!

Sports fans have recently seen the impact trust laws have firsthand, as the control of one of the NBA’s marquis franchises, the Los Angeles Lakers, has been determined by the trust which owns a majority share in the team. Most of the clients we work with own assets far less unique than an NBA franchise; however, the end result is the same no matter the asset – a properly drafted trust with appropriately designated trustees is one vehicle that may allow for the smooth transition of property from one generation to the next. Read more »