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|Subject: Yale Law Professor exposing 401k fees||Date: 7/27/2013 1:19 PM|
|Author: intercst||Number: 72685 of 74464|
Wall Street charges 'harrassment'.
A Yale researcher has the the retirement industry up in arms over his plan to publish apples-to-apples fund fees comparisons of thousands of 401k plans across the country.
No mere exercise in academia, he wants action, sending letters to plan sponsors warning that they’ll be exposed as “high cost” unless they add low-fee products.
Besides the paper, Ayres is promising to take his results to social media via Twitter as early as this coming spring. Considering the entrenched relationships between plan administrators and investment funds, that’s almost no time act. Expect investor lawsuits and Congressional hearings, reports RIABiz.
Plan advisers call the professor’s tactics “harassment.” Another way to look at it is that it’s the natural result of doing business “in the sunshine.”
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