- Will savers with small balances lose access to financial advice or investment products as a result of this rule? Will small savers still have access to actual advisers or will they only be able to get robo-advice?
- What is the Best Interest Contract Exemption?
- What is a BIC exemption?
- Why would an adviser or intermediary need to use the BIC exemption?
- Can a fiduciary adviser receive differential compensation?
- What does the grandfather provision cover?
- Does the rule eliminate commission compensation entirely?
- What about existing clients who are invested in A and C shares? Would an adviser or intermediary need to use the BIC exemption to continue receiving 12b-1 fees?
- What is a typical plan governance structure for a plan sponsor?
- Are all the new protections and responsibilities in effect immediately?
- What does ERISA say about retirement plan advisers’ fiduciary standard of conduct?