Wealth managers provide discretionary asset management services or investment advice to plans covered by the Employee Retirement Income Security Act or to individual retirement accounts covered by the Internal Revenue Code. Increasingly, these firms are noting an interest in supplying such services not just to the plans but also, separately, to the plans’ participants regarding both their plan investments and outside investments. To do so, the firm and its representatives would have to avoid conflicts of interest that arise due to their receipt of compensation for such services.  

In the PLANADVISER article, “How to Avoid Fee Conflicts,” principal David Kaleda delves into the relationship between wealth managers and plans, as well as plan participants, focusing on potential conflicts, compliance concerns, and wealth managers’ fiduciary duty under ERISA.

To read the article, click here.


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July 31, 2023

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