Many financial advisers are still grappling with how the Pension Protection Act permits them to give advice to 401(k) plans, Investment News reports. And a good majority doesn’t want to move to fee-based accounts from commissions.
Some advisers mistakenly believe the law allows them to still accept trailing commissions and revenue-sharing, and it does not, said Jason Roberts, an attorney with
Likewise,
Besides not being comfortable with the idea of providing advice, many advisers are unclear about how they will be paid, said Louis S. Harvey, president of
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