This video is an interview with Jerry Schlichter, discussing the impact of the Tibble v. Edison case on 401(k) plans and fiduciary duties. Schlichter argues that fears about the “sky falling” due to increased duties to monitor plans are unfounded, pointing out that similar predictions have been made in the past without materializing. He believes that the new fiduciary rules will ultimately benefit both advisors and plan participants, as they will lead to better advice and more serious consideration of participants’ interests.
Schlichter also discusses his personal motivations for pursuing these cases, noting his blue-collar background and his desire to protect individuals who may not fully understand their retirement plans. He emphasizes that his work aligns with his values, aiming to make a meaningful difference in people’s lives, beyond just financial gain.
The video was published on March 28, 2016, and has a duration of 3 minutes and 35 seconds.
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