Fiduciary and prohibited transaction

[Guest WantsToLearn]

Ok.So I know that I would be considered a fiduciary if I am an investment advice, and provide investment advice to the plan.

But what if I do not hold the assets, they are at another financial institution, and the plan hires me to provide investment advice to participants? I cannot be considered an interested party – right? If so, that would mean that the exceptions under the Pension protection act would not really apply to me, as it seems that it applies only when you want to sell the plan assets at your broker-dealer or owned by your broker-dealer – right?

[QDROphile]

See ERISA regulation section 2510.3-21.