There’s a fear that those rushing to promote their own PEPs are merely trying to return to the bundle service provider environment the industry evolved away from more than a decade ago. This makes due diligence all the more important.
Tag "Stefan Mihaylov"
More sophisticated plan participants who can afford to hire their own adviser. They don’t ask more from the plan. They ask for less, in hopes of gaining more control over their own destiny. For a variety of reasons, this isn’t as easy as some participants would like it to be.
Just as these changes come bearing down, so, too, does a need for greater hand holding. Pressures within the provider industry, however, appear to be reducing the number of available hands.
There’s a perverse incentive working here, however. The more aggressive a plan sponsor gets in terms of promoting “financial wellness,” the more likely that plan sponsor will accidentally cross some compliance line.
