Peter Gulia Posted May 1, 2018 Posted May 1, 2018 If a recordkeeper’s compensation includes “revenue sharing”, 12b-1 fees, shareholder-service fees, or other compensation from investment funds, a sponsor/fiduciary’s informed approval depends on complete and accurate information about the compensation the recordkeeper receives from the investment funds. Does anyone use a CPA firm or other means to test the accuracy of a recordkeeper’s reporting or disclosures about compensation from investment funds? Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com
Peter Gulia Posted May 2, 2018 Author Posted May 2, 2018 Any thoughts? Without some auditing, how would a plan's fiduciary discern whether a recordkeeper's disclosures about the compensation its receives from investment funds is accurate? Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com
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