"Like its predecessor, the new carve-out would likely have a substantial impact on platform providers that deliver advisory services regarding the selection of plan investment alternatives. This activity would prevent them from relying on the carve-out, even if the required disclaimers were made. This would be especially true for those platform providers delivering such services in exchange for any type of direct or indirect compensation. These providers could provide nonconflicted advice by adopting an asset-based fee, although this change would require the provider to become registered as an investment adviser. The alternative would be to restrict the advice rendered in accordance with the proposed carve-out and continue to receive variable compensation."  MORE >>