"The DOL's proposed regulation on selecting investments, including alternative assets, identifies six factors that need to be considered in the process of selecting any investments for participant-directed plans ... Many of the examples in the proposal (including this one) include, as relevant considerations, the use of non-discretionary 3(21) advisors and/or discretionary 3(38) investment managers. In totality, that suggests that the DOL views the use of qualified advisors as indicative of a prudent process. That is consistent with the holdings of some courts."  MORE >>