"[R]ecordkeepers will probably be less likely to refer sponsors to financial advisors when asked for fear their referral will be considered investment advice. That would be unfortunate.... [One recordkeeper is] concerned with the impact of the proposal on ... web based planning tools. Under current DOL rules advice that is not individualized to a person is not considered fiduciary. Under the proposal any communication that is specifically directed to a person can be considered fiduciary, which would include these targeted communications on the web as well as any phone call, e-mail, letter, or other communication directed to a specific person."  MORE >>