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ERISA Self-Dealing Lawsuit Calls SEI Plan 'Captive Customer'
PLANSPONSOR; registration may be required 
Oct. 9, 2018
"According to the lead plaintiff, the DC plan in question offers only investment options that generate fees for SEI and its affiliates and treat the plan as a captive customer.... The complaint makes a variety of claims about widespread conflicts of interest in the DC plan industry, suggesting that financial services companies such as SEI deserve extra scrutiny.... [T]he lead plaintiff says defendants did not meet their fiduciary obligations to regularly evaluate each investment option within the plan on its merits relative to alternative available options."
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