"The DOL indicates in the preamble that the ongoing receipt of a 'level fee' typically would not raise prohibited transaction concerns because the compensation is not tied to investment recommendations, but that there is a 'clear and substantial' conflict of interest when advisers recommend investments in a level fee account if the adviser would not otherwise receive fees absent the investment. The DOL also emphasizes that it would be a non-exempt prohibited transaction to move a customer into a fee-based model that is not in the customer's best interest."  MORE >>