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Advisor Insights

The Retirement Plan Industry's Troubling Framework

Fiduciary buyers bear virtually all the legal responsibility, but it's the nonfiduciary sellers that largely control them, argues contributor Scott Simon.

 "You mean I won't get on-site access?"

My questioner and I were attending a meeting with a plan sponsor's working group. We were planning how the new recordkeeper--an insurance company that employed the questioner--and my Registered Investment Advisory firm were going to take control from the previous bundled recordkeeper.