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To Be, or Not To Be (a Fiduciary)

As advisers weigh how the newly proposed definition of a fiduciary is going to affect their business, many are considering outsourcing certain functions that clearly place them in the role of a fiduciary.  One function in particular that seems to have advisers talking is the role of participant-level investment adviser.  Here is a decision tree to help you decide whether you want to offer participant advice yourself or outsource that function to a third party provider. 

 

Scott Swezy
Vice President, Smart401k