The Department of Labor issued final guidance on the provision of investment advice by a fiduciary advisor to participants and beneficiaries in participant-directed plans, such as 401(k) plans. In general, such investment advice will be exempt from ERISA's prohibited transaction provisions, where such advice is provided by a "fiduciary advisor" under an "eligible investment advice arrangement" that is expressly authorized by a plan fiduciary.
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Comments for Final Regulations Issued on Participant Investment Advice