Sentences with phrase «hire fiduciary advisors»
But those sponsors were not required to hire fiduciary advisors prior to finalization of the Labor Department's rule.
https://www.thinkadvisor.com/ Not exact matches
Following several high - profile excessive fee lawsuits, more 401 (k) plan sponsors than ever are hiring fiduciary - grade financial advisors to lower their liability.
Cetera Financial Group says it has hired more executives and updated its platforms in order to helps its advisors sell and service retirement plans in accordance with the expected new Department of Labor fiduciary standard.
When hiring a financial advisor, 401k plan sponsors have a fiduciary duty to assess «the reasonableness of the compensation (direct and indirect), and determine any conflicts of interest that may impact the service provider's performance.»
In an attempt to reduce their investment - related liability, many 401 (k) fiduciaries hire a professional financial advisor to make fund recommendations.
Further, the final rule defines a variety of investment education activities that fall short of fiduciary conduct, and makes clear that advisors do not act as fiduciaries merely by recommending that a customer hire them to render advisory or asset management services.
More plan sponsors than ever are not taking this risk - they're hiring fiduciary - grade advisors instead.
They recommend that investors hire independent, fee - only advisors who will act as fiduciaries to their clients.
If the plan documents under which the group health plan was established and is maintained permit, the named fiduciary may delegate certain responsibilities to trustees and may hire advisors to assist it in carrying out its functions.