Fiduciary standard

Amid high-profile, class-action lawsuits over inflated prescription drug prices, advisers are urged to cement a fiduciary process for employer clients.

Nearly 84% of U.S.-based plans have an ERISA violation, spotlighting a need for independent benchmarking audits.

Contributing to these accounts makes sense for clients who anticipate higher tax rates in the future.

The difference in returns is huge for investors working with a fiduciary.

James Sotell, managing director of Comperio Retirement Consulting, shares his perspective on advising small plans and their fiduciaries.

James Sotell, managing director of Comperio Retirement Consulting, shares his perspective on advising small plans and their fiduciaries.

This does not mean that plan sponsors and committee members cannot insist on getting non-conflicted fiduciary advice; it just makes their job harder.

Plan sponsors and advisers: “It is important to realize that three or four years from now, what is done today will be examined, and it needs to be done with a good standard of care and mitigation of conflicts of interest.”

Plan sponsors and advisers: “It is important to realize that three or four years from now, what is done today will be examined, and it needs to be done with a good standard of care and mitigation of conflicts of interest.”

This does not mean that plan sponsors and committee members cannot insist on getting non-conflicted fiduciary advice; it just makes their job harder.