Aron Szapiro discusses the Secure Act and its potential to plug some of the holes in U.S. retirement planning.
The data do not support a causal story.
New Morningstar research examines the impact of high-rebate arrangements on investor returns and the positive impact the proposed fiduciary rule has had.
ETFs are privileged by happy accident, and it's poor public policy to favor them over mutual funds.
Maybe, but "tax-deferred account" starts with "tax" for a reason.
The partial government shutdowns could affect investors soon, because if the debt limit isn't raised we could see an increase in rates and a decline in liquidity.
The proposal leaves several questions unanswered.
Not much on its own, but it's a canary in the coal mine.
Aron Szapiro says we may see bipartisan legislation around the retirement system, but investors shouldn't overreact to House investigations of the president.
We take a look at the implications of a new Congress and how either political party's agenda could affect investors.
New rules package aims to raise standards.
With the DOL's fiduciary rule dead, we're calling for more clarity on the best interest proposal.
The proposed Regulation Best Interest rule could prove to be quite strong and maintain momentum toward best interest advice, but there are some areas that still need work.
As new share classes evolve, we untangle their meaning.
Watch Morningstar director of policy research Aron Szapiro discuss how effective the government's tools are.
The SEC's proposal will accelerate the trend of advisors moving from a sales to a relationship model.
We take a closer look at the tools the government deploys and how they’ve worked.
Making it easier for unrelated businesses to band together in multiple employer plans could help create higher quality options for investors.
An appellate court's ruling to strike down the Department of Labor's fiduciary rule doesn't change our view that in the long-run advisors are moving to a fiduciary standard of care.
The new tax law adjusts how provisions are, or aren't, indexed--meaning higher real rates are ahead.
Giving advisors reliable data-aggregation capabilities is a start.
Harder to access deductions, changes to inflation adjustments, and challenges to small retirement plans are on Morningstar Director of Policy Research Aron Szapiro's radar.
Concentrated ownership debate has found a receptive audience among politicians.
There are some important differences that need to be ironed out between the House and Senate bills, but Morningstar's Aron Szapiro thinks it is likely to be done by the end of the year.
A provision in the Senate’s bill limits fund managers’ ability to use specific share identification, which could lead to higher distributions.
Morningstar's director of policy research, Aron Szapiro, gives his first take on the impact of the proposed tax bill.
Clean shares have the potential to benefit investors, but regulators have to get the details right.
In a comment letter to the SEC, Morningstar’s Aron Szapiro explores what changes the fiduciary rule has had on the asset management industry and what the SEC can do to help investors.
The rule has gone through several developments since President Trump took office, but we expect its fundamental principles to survive.
Americans need better access to retirement plans, help with drawdown phase.
As the secretary of labor confirms that the fiduciary rule will begin to phase in early next month, keep these key points in mind.
How an obscure proposal could help investors judge their 401(k)s.
The Department of Labor's new rules will go into effect later than planned, but the momentum toward offering holistic advice is inescapable, writes Morningstar's Aron Szapiro.
Budget-scoring rules could mean that tax reform is likely to include incentives or mandates toward post-tax contributions, writes Morningstar's Director of Policy Research Aron Szapiro.
Major reforms may be unlikely, but through appointments and executive actions the next administration can still have an impact on investors.
None of the proposals to expand retirement plan coverage is a perfect fit.
Savings vehicles for private-sector workers are better than nothing, but they aren't a substitute for employer plans.
Morningstar research reveals several retirement drawdown lessons that could help improve the U.S. system.
Tax refunds seem to reduce workers’ financial security by encouraging them to spend money rapidly instead of building their savings.
Pension plan participants are giving up their lifetime benefits to take lump sums. Why?