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Retirement Advisor Council Comment Letter to DOL on Proposed Fiduciary Definition (PDF)
Retirement Advisor Council
[Opinion] July 21, 2015 7 pages. "[The] final regulation needs to be enhanced from the current proposal in nine areas [including]: ... Acknowledge that the evaluation of investment options involves more than price comparison; Overcome the preconceived notion that advisors are necessarily conflicted; Acknowledge that fiduciary investment advice is a process delivered over time, not a one-time transaction.... Expand on the distinctive practices for small plans and large plans.... Expand on the situation of plan sponsors who do not use the services of a fiduciary plan advisor and rely exclusively on the services of their recordkeeping service provider for investment advice, investment array construction, participant education or participant advice." MORE >> |
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