"The outsourced fiduciary market is growing in the United States and elsewhere. When an outside party is hired by a plan sponsor, it is critical to specify responsibilities and contract accordingly. When an 'expectations gap' exists, some critical tasks may be left wanting or not addressed at all. When multiple fiduciaries are in place, a plan sponsor must ensure that a central person or team is adequately coordinating the efforts of all fiduciaries. The newly proposed Conflict of Interest rule is predicted to materially change the landscape of fiduciary relationships between plan participants and retirement advisers."

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