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Articles Illuminating the "Broad Range" Requirements of ERISA Section 404(c) With the Language of Modern Portfolio Theory Found in the Uniform Prudent Investor Act Journal of Pension Benefits, Autumn 2005. Copyright © 2005 by W. Scott Simon This column helps illuminate the "broad range" requirement of ERISA Section 404(c) with the language of modern portfolio theory and other nations of financial economics that is found in the Uniform Prudent Investor act and the Restatement 3rd of Trusts (Prudent Investor Rule). View
the Article: [pdf format] A Step Beyond ERISA Section 404 (c): Improving on the Participant-Directed 401(k) Investment Model Journal of Pension Benefits, Summer 2005. Copyright © 2005 by Jeffery C. Chang, W. Scott Simon, and Gary K. Allen. This article proposed an alternative to the participant-directed 401(k) model. The proposal, the non-participant-directed 401(k) plan, helps satisfy two important objectives at once: (1) increase the odds that the retirement investment and saving needs of plan participants will be met; and (2) reduce the fiduciary responsibility of fiduciaries.
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[pdf format] Public Employee Pension Plan Trusts The Prudent Investor Act: A Guide to Understanding, by W. Scott Simon. Copyright © 2006 by W. Scott Simon. All rights reserved worldwide. This excerpt from Chapter 15 compares the text of the 1994 Uniform Prudent Investor Act (UPIA) to that of the 1997 Uniform Management of Public Employee Retirement Systems Act (UMPERSA). The heavy influence of UPIA on UMPERSA, which governs the conduct of fiduciaries of public employee pension plans, is readily apparent from the way in which text from UPIA has been incorporated extensively into UMPERSA. Wyoming and Maryland enacted UMPERSA into law in 2005, and South Carolina enacted the fiduciary portions of UMPERSA into law in 1998. View
the excerpt: [pdf format] The Fiduciary Duties of a Registered Investment Advisor Observations, ComplianceMAX Monthly Advisers Newsletter, May 2006. Copyright © 2006 by W. Scott Simon This article, which discusses the fiduciary duties of a registered investment advisor (RIA) subject to the Investment Advisers Act of 1940, also includes a brief outline of the duties required of an investment broker-dealer subject to the 1934 Securities Exchange Act.
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[pdf format] In Indexing We Trust: Passive Investing Appears to be the Standard for Investing and Managing Trust Portfolios Journal of Indexes, August/September 2004. Copyright © 2004 by W. Scott Simon. This article, excerpted from the book, The Prudent Investor Act: A Guide to Understanding, which was authored by one of our advisors, comprehensively reviews the effects that the Uniform Prudent Investor Act and the Restatement 3rd of Trusts (Prudent Investor Rule) have on choosing active or passively-managed investments. The excerpt also takes an in-depth look at the arguments, assumptions and facts relating to the active/passive investment decision.
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[pdf format] Index Mutual Funds: The Best Investment Strategy for Complying with the California Uniform Prudent Investor Act CEB Estate Planning & California Probate Reporter, June 1998. Copyright © 1998 by The Regents of The University of California and W. Scott Simon. This article explores the reasons why the Uniform Prudent Investor Act, viewed in light of its Restatement antecedents, will generally lead trustees to favor index mutual funds when selecting investments for long-term trusts. Trustees that select “active” investment strategies may find it difficult to justify such choices. View the Article: [pdf format] Managing Risk vs. Picking Investment Winners Oklahoma Society of CPAs Biweekly e-Newsletter, Issue 20, September 2004. Copyright © 2004 by W. Scott Simon. This article explains how advisors can enhance portfolio wealth more effectively by consciously managing investment risk instead of trying to score big in the random game of identifying investment winners. View the Article: [pdf format] Diversifying Risk is the More Dependable Way to Increase Return Prudent Investor Advisors, LLC, Copyright © 2005 by W. Scott Simon and Guerdon T. Ely. This article identifies the problem that all investors face and how best to solve it. View the Article: [pdf format] The Critical Difference Between a Stockbroker and Registered Investment Advisor Prudent Investor Advisors, LLC, Copyright © 2005 by W. Scott Simon. This article explains the critical difference between the legal investment standard required of a stockbroker and that of a Registered Investment Advisor, and how that can impact investors. | |||||||
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