"The trial court determined that [Edison's] investment selection process did not properly investigate the alternative of offering lower-fee institutional-class funds available from the same investment firm. Edison argued that it had acted prudently because it based its decision on advice received from Hewitt, which had been retained to provide advisory services to the plan. The Ninth Circuit rejected this argument, stating that expert advice does not absolve a fiduciary of responsibility: 'Just as fiduciaries cannot blindly rely on counsel ... or on credit rating agencies[,] a firm in Edison's position cannot reflexively and uncritically adopt investment recommendations.'"  MORE >>