Carpenter Morse Group |
Retirement Plan Legal Specialist Pentegra |
Retirement Plan Administrator (TPA) Retirement Plan Consultants |
Nova 401(k) Associates |
Retirement Plan Documents Specialist Loren D. Stark Company |
United 401(k) Plans, Inc. |
Compass Retirement Consulting Group, Inc. |
Retirement Plan Relationship Manager ERISA Services, Inc. |
Trucker Huss, A Professional Corporation |
Bates & Company |
Central Pension Fund of the IUOE |
Pentegra |
Jr Retirement Plan Administrator/ Administrative Assistant Hochheiser Deutsch & Co, Inc. |
Defined Benefit Calculation Specialist/Actuary The Angell Pension Group, Inc. |
Central Pension Fund of the IUOE |
Retirement, LLC |
Nicholas Pension Consultants |
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Dear 'Financial Consultant': Do You Really Act in My 'Best Interests'? Ron A. Rhoades, JD, CFP ![]() [Opinion] June 18, 2015 ['Conflict of interest' questions, in the form of a letter to a financial consultant.] "Can you answer these questions for me? Also, can you put your answers in writing? ... [1] Do you possess the legal obligation to act in my 'best interests'? ... [2] With respect to each conflict of interest you may possess ... please explain to me how you have, in the past, ensured that you have observed [listed] procedures to properly manage each conflict of interest in order to ensure that no harm comes to me: ... [3] With respect to each conflict of interest you may possess ... is each transaction you recommended that I undertake ... also 'substantively fair' to me, as is required under a true fiduciary 'best interests' standard? ... [4] What are the total fees and costs associated with each investment product I have purchased as a result of your recommendations.... [5] Please set forth the compensation received by your firm as a result of any recommendation from you which I have implemented.... [6] Please also set forth whether you received any material compensation as a result of your recommendations to me." |
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