Jan
06
2010

New 401(k) regulations could prompt more advisers to move toward flat fees

datePosted on 16:52, January 6th, 2010 by lee

The article states:

“Industry experts expect that regulations on 401(k) plan fee disclosure and investment advice will be finalized this year and that their implementation will prompt a wave of financial advisers to exit the market.”

I am not sure I buy the part about advisors exiting the market at least not voluntarily. Advisors that inform their clients that as plan sponsors it is their fiduciary duty to know what they are paying in fees and to take steps to insure it is reasonable will thrive. The advisor’s that fail to inform their clients of their fiduciary duties as plan sponsors will lose both credibility and business. Market share will shift to the former.

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20100103/REG/301039987&ht=401%20(k)

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