“Understanding a Smidgen of the DOL’s Definition of the Term ‘‘Fiduciary’’; Conflict of Interest Rule - Retirement Investment Advice.”

Date: Wednesday, September 21, 2016
Time: 5:15pm - 7:30pm
Location: Arizona Inn, 2200 E. Elm Street
Speaker: Scott Simon, JD, CFP®, AIFA

*HANDOUT - Presenter will make an outline available no later than the morning of the 21st. It will be available for download here.


In April 2016, the U.S. Department of Labor promulgated its final conflict of interest rule concerning the rendering of retirement investment advice by fiduciary advisors to ERISA plans as well as to IRAs and non-ERISA plans such as Keogh plans. The program will review how the DOL, through issuance of the Rule, has significantly broadened the definitions of “fiduciary,” “investment advice” and “compensation” under ERSA. Barring any legal or regulatory impediments, it will be shown how the Rule will cover virtually all advisors given the significant impact of bringing IRA assets under its purview. This will affect even RIAs offering IRA rollover advice.


Registration and cocktails

5:15pm – 5:45pm


5:45pm – 6:30pm


6:30pm – 7:30pm


W. Scott Simon, J.D., CFP®, AIFA®, is a principal with Prudent Investor Advisors, a registered investment advisory firm. He is the recipient of the 2012 Tamar Frankel Fiduciary of the Year Award.

Scott has written a monthly column for Morningstar on fiduciary investment issues called Fiduciary Focus since 2003. He is the author of two books. His first, Index Mutual Funds: Profiting from an Investment Revolution (1997), includes a foreword by John Bogle. Scott’s other book, The Prudent Investor Act: A Guide to Understanding (2002), features dust jacket testimonials from a wide range of leading academic, investment and legal authorities including Harry M. Markowitz, Nobel laureate in Economics and the father of Modern Portfolio Theory, John C. Bogle, founder and former chairman of Vanguard as well as Edward C. Halbach, Jr., the Reporter for the Restatement (Third) of Trusts.

Scott is an expert on the Uniform Prudent Investor Act and the Restatement (Third) of Trusts, including standards of fiduciary investment conduct and modern prudent fiduciary investing, violations of fiduciary duties and principles of investing. 

He is a member of the State Bar of California, a Certified Financial Planner® and an Accredited Investment Fiduciary Analyst™. Scott graduated from UCLA with departmental honors in political science, earned his law degree and was awarded a Rotary Foundation post-graduate law fellowship. In addition to his membership in the State Bar of California, Scott is admitted to practice before the U.S. District Court, Central District of California as well as the U.S. Tax Court. He practiced business, corporate, tax and real estate law prior to entering the investment advisory profession.

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