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Best Interest Standard of Care for Advisors, Part 67: Compliance with PTE 2020-02 -- Factors to Evaluate for a Rollover Recommendation (Part 3)
FredReish.com Link to more items from this source
[Guidance Overview]
Sept. 22, 2021

"[It's] not clear how the investment professional should consider and weigh the investments in the plan that are not being used by the participant.... [T]he FAQs [send] a clear message that the DOL considers the increase in cost (that typically occurs with a plan-to-IRA rollover) needs to be justified. As a result, financial institutions should consider structuring their rollover processes to justify 'why the rollover is appropriate notwithstanding any additional costs'."

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