Why Private Equity Doesn't Belong in Defined-Contribution Plans
Contributor Scott Simon argues that private equity isn’t in any way a good thing for plan participants.
W Scott Simon
W. Scott Simon is an expert on the Uniform Prudent Investor Act, the Restatement (Third) of Trusts and Title I of ERISA. He is the author of two books, The Prudent Investor Act: A Guide to Understanding and Index Mutual Funds: Profiting From an Investment Revolution (foreword by John C. Bogle). Simon is the recipient of the 2012 Tamar Frankel Fiduciary of the Year Award.
Simon is a retirement plan advisor at Retirement Wellness Group specializing as a discretionary investment fiduciary pursuant to ERISA section 3(38). This approach can be adapted to non-ERISA plans such as 457(b) plans 401(a) plans as well as to non-profits including foundations and endowments.
Simon also provides expert witness and consulting services as described at https://www.fiduciary-experts.com. These include pre-litigation case evaluation, assistance in litigation support consulting including trial preparation, written opinions, legal arguments as well as testimony at depositions, arbitrations, mediations and trials. Subject matter areas include standards of modern prudent fiduciary investing, prudent fiduciary investment conduct, breaches of fiduciary duties and principles of investing.
Simon is a member of the State Bar of California, a Certified Financial Planner® and an Accredited Investment Fiduciary Analyst®. For more information, please contact him at wssimon@rwg-retirement.com or wssimon@fiduciary-experts.com.
Latest
Even More on the Troubling Framework of the Retirement Plan Industry
Contributor Scott Simon wraps up his series on the ways insurance company recordkeepers can undermine a plan sponsor’s best intentions.
Jun 4, 2020
More on the Troubling Framework of the Retirement Plan Industry
Contributor Scott Simon takes a deep dive into the ways plan sponsors may unwittingly expose plan participants to conflicts of interest.
May 20, 2020
The Retirement Plan Industry's Troubling Framework
Fiduciary buyers bear virtually all the legal responsibility, but it's the nonfiduciary sellers that largely control them, argues contributor Scott Simon.
Apr 23, 2020
Creating a Superior ERISA 3(38) Appointment Framework
Contributor Scott Simon provides a blueprint for the best way to legally protect a plan sponsor when appointing a 3(38).
Mar 4, 2020
A Marketing Idea for Advisors
Contributor Scott Simon offers a way for professionals to effectively promote their 401(k) practices.
Feb 6, 2020
Answering Another Key Question in a Request for Proposal
Contributor Scott Simon argues why he doesn’t think alternative investments are good choices for retirement plans.
Jan 22, 2020
Answering a Key Question in a Request for Proposal
Contributor Scott Simon argues that investment managers have clearly articulated investment philosophies. Here’s why.
Dec 5, 2019
Final Thoughts on the SEC’s Regulation Best Interest
Contributor Scott Simon examines one of the two lawsuits filed in September that could topple the new rule.
Nov 6, 2019
Litigation Against the SEC’s Regulation Best Interest? Not Surprised
Contributor Scott Simon details two recent lawsuits filed against the SEC related to regulation best interest.
Oct 3, 2019
Why Regulation Best Interest Should Be Jettisoned
No amount of disclosures in Regulation Best Interest can change the central reality that the nonfiduciary business model puts employers ahead of investors, argues contributor Scott Simon.
Sep 4, 2019
Further Observations on Regulation Best Interest
Contributor Scott Simon argues that nothing has changed for the better as a result of Regulation Best Interest.
Jul 31, 2019
Observations on Regulation Best Interest and the Continuing Fiduciary Wars
Regulation Best Interest is a gift to the brokerage industry, says contributor Scott Simon.
Jul 3, 2019
How to Minimize Uncompensated Risk
Contributor Scott Simon illustrates how reducing this risk can damp portfolio volatility and improve investor outcomes.
Jun 5, 2019
The Law of Trusts Is the Foundation for Prudent Fiduciary Investing
Contributor Scott Simon argues virtually every investment fiduciary is governed by the principles laid down in the law of trusts.
May 1, 2019
The Risk/Return Trade-Off and Modern Prudent Fiduciary Investing
Contributor Scott Simon explores the origins of the "central consideration" required of fiduciaries.
Apr 3, 2019
An Introduction to Modern Prudent Fiduciary Investing
Contributor Scott Simon outlines the three critical duties of fiduciaries.
Mar 6, 2019
403(b) Plans Not Adding Up
Contributor Scott Simon discusses what upgrades 403(b) plans should make, with lowering costs being the first improvement.
Feb 6, 2019
On Bernie Madoff and Working Longer
Contributor Scott Simon addresses two unrelated--albeit important--subjects for advisors.
Jan 10, 2019
Why Target-Date Funds Miss the Boat
These vehicles fail to meet the challenge of creating a relatively stable, sustainable, and inflation-adjusted income stream throughout retirement, says contributor Scott Simon.
Dec 6, 2018