Scott Revare was quoted in Sara Hansard’s article Congress to Tackle Rule on Retirement Advice about pending legislation that would require that advice given to 401(k) participants be provided by independent advisors (rather than by brokers affiliated with financial services firms as was proposed by the Bush administration.) According to Revare, many 401(k) plan providers offer a full range of services, including providing fund options, assisting companies in selecting funds in the plan, and participant education. “While in some cases that can be very convenient for the employer, it can also limit their choice,” said Revare. This decision “will force the availability of more choices for different vendors to provide different services within the plan.” Read more.
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