Fiduciary requirements

[Belgarath]

A question came up which I thought might be familiar to some of you who deal with Fiduciary requirements.

Say I am the fiduciary to profit sharing plan A. The company sponsoring Plan A happens to be an auditing firm that does ERISA audits. As fiduciary to this plan, I am receiving compensation.

I'm also fiduciary to a new profit sharing plan B, for a completely unrelated business. The Plan Administrator is looking for an auditor for their plan. I happen to think that the auditing company (A) for whose plan I am a fiduciary, is a highly competent and reputable company.

Am I allowed to recommend them to Employer B? Is it ok if I recommend them as long as I disclose that I am a fiduciary to their plan? Or am I not permitted, either by law or ethics, to recommend this firm?

My uninformed guess is that I could recommend them as long as I disclose that I'm a fiduciary to their planl, and thus receive compensation from them?