Smart401k Releases Webinar on Participant Investment Advice
OVERLAND PARK, KS, August 24, 2010 -- Smart401k released a new continuing education webinar in August aimed at 401k and defined contribution plan advisers. The course provides an overview of participant investment advice options with consideration for pending legislation and how it may affect current arrangements, as well as an explanation of fiduciary oversight requirements for plan sponsors under each model.
"Many people think that with the passage of PPA all advice solutions have to be PPA compliant. There seems to be a general lack of understanding about how advice can be offered within an ERISA plan," said Scott Swezy, Smart401k Vice President of Institutional Sales.
The Pension Protection Act (PPA) gives parties with a potential conflict of interest a means to provide investment advice to participants within their retirement plan account. In order to receive an exemption to a prohibited transaction, the advice model used must meet certain criteria set forth by PPA. However, PPA does not overturn the previous guidance that allows for investment advice provided by an independent third party.
PPA is just the latest of four ways to provide investment advice to participants in retirement plans. Plan sponsors have the same level of fiduciary protection with the options outside of PPA as long as oversight requirements are followed.
"Understanding the participant advice regulations and available advice delivery methods will allow plan advisers to expand the services they offer and deepen relationships with plan sponsors," said Smart401k President and CEO Scott Holsopple.
This course is intended to comply with professional designations Continuing Education requirements including PRP. This event may qualify for up to two hours of non-fi360 produced CE for AIF Designees. This event may qualify for up to four hours of non-fi360 produced CE for AIFA Designees.
About Smart401k
Smart401k is a Web-based investment adviser providing unbiased advice to help employees invest in their employer-sponsored retirement plans. Smart401k provides service to almost 11,000 clients who collectively have more than $1.5 billion in assets. Individuals receive personalized investment recommendations based on the funds in their plan and support of professional investment advisers available to answer all investment questions. Based in Overland Park, KS, Smart401k can be found at Smart401k.com.
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