The risk of lawsuits against retirement plan advisers and aggregators
Lawsuits increasingly draw in other plan service providers, ranging from record keepers to product solutions providers, plan advisers and others.
Over the past decade, one focus of 401(k) fee lawsuits has been to include service providers as named defendants – a shift from simply suing plan sponsors and fiduciaries working at plan sponsors. This shift began with the rise of “proprietary fund” lawsuits involving plans that use investment
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