"The employer and employees have a one in a million shot to successfully sue the advisor if XYZ tanks and ABC soars. But the employees have a much greater shot to successfully sue the employer that thought it did its homework and relied upon the advisor who gets off scot-free. The DOL proposal makes certain advisors in certain conditions 'fiduciaries' under ERISA. It also extends that fiduciary definition to advisors, brokers, etc. of IRAs.... The DOL is targeting the advisor who provides advice and gets paid for it, requiring a common sense degree of honesty currently not required. If you are an employer, employee, or IRA owner, ... you should be thrilled if the regulation becomes law."