The Department of Labor has issued a new regulation designed to improve access to expert investment advice for workers with 401(k) and individual retirement accounts.
The rule makes it easier for providers of 401(k) plans such as Charles Schwab, Vanguard, and Principal Financial to offer their own advice and bundle it with their other services.
Currently an employer offering a 401(k) from a provider like Vanguard has to contract with a separate independent adviser to comply with regulations against conflicts of interest. Investment advice cannot be offered by anyone who might benefit financially from the advice.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
