Come April, when the Labor Department's fiduciary rule is scheduled for the first of two implementation dates, what recordkeepers allow call center representatives to say to 401(k) participants will be subject to vast new regulations and potential legal and competitive liability.
Related: Hundreds of thousands of 401(k) plans up for grabs after fiduciary rule
|401(k) call center role crucial
The events of last November serve as a reminder of how valuable call centers are for millions of retirement investors.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
