In the article, “Ken Fisher Fallout: Which Pension Plans Have Pulled Out and Which Have Stayed,” CNBC turned to Washington, D.C., partner Brad Campbell for insight into the process and responsibilities of fiduciaries when hiring and firing money managers.

The publication reports on the four public pensions that have quickly ended their relationship with Fisher Investments, following the founder’s controversial comments at a conference. CNBC reports that the speed with which pensions moved assets from the money manager has surprised many industry professionals.

Campbell told the publication that plan fiduciaries are responsible for considering whether a move could hurt beneficiaries either in the form of higher costs or a reduction in service.

Source: CNBC
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