Monday, August 20, 2007
Financial advisers likely to increase role as fiduciaries for 401(k)s, study finds
More financial advisers will specialize in becoming fiduciary advisers who work with 401(k) plans in coming years, according to a retirement executive who worked on a white paper on the issue.
The Pension Protection Act of 2006 reduces the liability for employers providing investment advice for employees in their 401(k) plans.
“It will lead to a degree of specialization,” predicted Dennis Long, vice president of retirement and investor services at The Principal Financial Group of Des Moines, Iowa, which manages $282.1 billion.
Financial advisers likely to increase role as fiduciaries for 401(k)s, study finds
Source: Investment News (subscription required)
The Pension Protection Act of 2006 reduces the liability for employers providing investment advice for employees in their 401(k) plans.
“It will lead to a degree of specialization,” predicted Dennis Long, vice president of retirement and investor services at The Principal Financial Group of Des Moines, Iowa, which manages $282.1 billion.
Financial advisers likely to increase role as fiduciaries for 401(k)s, study finds
Source: Investment News (subscription required)
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