Concern about plan providers and the risks of conflicted service models continues to gain visibility as RetireAware leadership takes this message to two national audiences.

One of the great challenges facing plans is how to deal with plan providers who have dual loyalties. Conflicted providers represent a significant challenge--and risk--to plan fiduciaries by capitalizing on participant confusion over the role of the financial “advisors” who work for these providers. The most common response is to rely in legal notices and disclosures to “address” concerns over conflicted providers. However, this reliance on legal notices and disclosures needs more careful examination -- especially since the disclosures are prepared by these (conflicted) providers.

Listen to Dan Otter of 403bWise interview Dan Alexander (Founder, CEO and Managing Director of Principal Review) to discuss how conflicts of interest and undisclosed compensation structures pose risks to plan sponsors and plan participants - and what can be done.